Three Decades of College Cost Increases
College costs have risen steadily and significantly over the past 30 years.
Background
The Pension Protection Act of 2006 first allowed taxpayers age 701⁄2 or older to make tax-free charitable donations directly from their IRAs. Technically, these taxpayers were allowed to exclude from gross income otherwise taxable distributions from their IRA ("qualified charitable distributions," or QCDs), up to $100,000, that were paid directly to a qualified charity. These gifts are also known as "Charitable IRA rollovers." The law was originally scheduled to expire in 2007, but was extended periodically through 2014 by subsequent legislation, and finally made permanent by the Protect Americans from Tax Hikes (PATH) Act of 2015.
Here are some key numbers associated with estate planning, as well as the federal gift tax and estate tax rate schedules for 2021 and 2022.
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Harbour Trust welcomes new members of their Tax and Trust teams
Harbour Trust & Investment Management Company is pleased to announce the recent additions of Steven Skalka and Matthew Hollander. As…
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