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NEW YORK, NY -- The Internal Revenue Service announced today the official estate and gift tax limits for 2019: The estate and gift tax exemption is $11.4 million per individual, up from $11.18 million in 2018. That means an individual can leave $11.4 million to heirs and pay no federal estate or gift tax, while a married couple will be able to shield $22.8 million. The annual gift exclusion amount remains the same at $15,000. For the ultra rich, these numbers represent planning opportunities. For everybody else, they serve as a reminder: Even if you don’t have a taxable estate, you still need an estate plan.
HARTFORD, CT -- Hartford nonprofit Riverfront Recapture has been awarded a $200,000 grant from Bank of America for leadership training and to boost its innovation fund. Bank of America on Thursday named the nonprofit its 2018 Neighborhood Builder grant recipient, which includes a two-year grant worth $200,000.