Posts

WFY Welcomes Two New Hires in March
In March, Wright Ford Young & Co. had two new hires join our team in our audit and estate and trust departments. Andre Nielsen joined our audit department as Audit Staff and Jason Gonzalez joined our estate and trust department as Diligence…

Why Gifting During an Economic Downturn May Be Right for You
Janelle Tokunaga, CPA, MST
Tax Supervisor
While it may seem like there has been a shortage of good news lately, we wanted to bring your attention to a few bright spots that have come about during our current economic downturn. …

Making Large Gifts Now Won’t Harm Estates After 2025
On November 20th, the IRS announced individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to levels…

Extraordinary Estate Tax Opportunity with the Tax Cuts and Jobs Act
You may recall that President Trump promised to repeal the Estate and Gift Tax and their cousin, the Generation Skipping Tax. However, the enacted version of the Tax Cuts and Jobs Act signed just before Christmas 2017, left these three taxes…

Estate and Gift Tax 2018 Inflation Adjustments
On October 19th, the IRS issued Revenue Procedure 2017-58, the annual inflation adjustments for 2018 for many tax provisions, including exemptions for estate, gift and generation-skipping transfer (GST) taxes as well as the annual exclusion…