If you are in a position to give, making annual gifts can be an excellent strategy for reducing both your estate and income tax liability. Doing your gift-giving during midyear rather than late in the year is especially smart if you are gifting income-producing real estate. By doing so, you may further reduce your 2017 tax liability.
If you are in a position to give, making annual gifts can be an excellent strategy for reducing both your estate and income tax liability. Doing your gift-giving during midyear rather than late in the year is especially smart if you are gifting income-producing real estate. By doing so, you may further reduce your 2017 tax liability.