Posted by Administrator Account on 3/15/2012 2:35 PM
The current law that allows $5 million in tax-free gift is scheduled to expire at the end of 2012. Anyone interested in making large lifetime gifts needs to act quickly.

Because the gift and estate tax exemptions are schedule to decrease to $1 million in 2013 and, in any event, may fluctuate over time, nobody can rely on a $5 million exemption at his or her death (or at any time in the future).

Call your DWC tax advisor for more information.

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Dalby, Wendland & Co., P.C. is a Certified Public Accounting and Consulting firm in Western Colorado that provides professional accounting, audit, tax and business services to individuals and businesses of all sizes.  Dalby, Wendland & Co., P.C. has established offices in Grand Junction, Glenwood Springs, Montrose, Aspen, Rifle, and Telluride that allows us the flexibility to serve thousands of clients all over Western Colorado.  As Western Colorado's oldest and largest accounting firm headquartered in Colorado, we have had the opportunity to build strong relationships with our people, our clients, and our communities.

The information provided on this website is for informational purposes and does not constitute an accountant-client relationship. We assume no liability or responsibility for any errors or omissions in the content of this website. Any U.S. federal tax advice contained in this website is not intended to be used for the purpose of avoiding penalties under U.S. federal tax law. We recommend you call our firm before implementing any tax techniques discussed in this letter, or if further accounting, tax, or financial advice from a professional accounting firm is required.

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