Any use of the unified credit to reduce gift taxes reduces the remaining unified credit available to offset the estate tax. So that the IRS can keep track of the amount of gifts given that exceed the annual exclusion amount, the donor of the gift must file Form 709, United States Gift (...
Before an individual passes away, they will have a last testament or will featuring specific instructions on what to do with any estates in their name. When that person dies, the executor of the the will, uses Form 706 to figure out the estate tax specified in Chapter 11 of the IRC. Me...
Do you live in a state that imposes an income, sales, real estate or personal property tax? If you make payments for any of these taxes, you should know that the IRS may let you deduct them on your federal tax return. Watch this tax tips video from Turbo
When it comes to the private sector, Abuja’s economy is dominated by financial services, hospitality, retail, and real estate sectors, with some manufacturing [50]. Given all these employment opportunities, it is unsurprising that Abuja has one of the fastest growing populations in the world;...