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2017 Estate, Gift and GST Tax Update

Posted by Michael S. Selvaggi | Feb 14, 2017 | 0 Comments

As of January 1st, the federal estate tax exemption increased from $5.45 million to $5.49 million with the highest federal estate tax rate remaining at 40%.  The federal lifetime gift tax exemption and generation-skipping transfer (“GST”) exemption also increased from $5.45 million to $5.49 milli...

Selvaggi recognized for years of service

Posted by Michael S. Selvaggi | Nov 08, 2016 | 0 Comments

October 1, 2016, Abilities of Northwest Jersey, Inc. recognized Michael S. Selvaggi for his 25 years of service as a member on its Board of Directors. Abilities is a not-for-profit organization dedicated to improving the employability and quality of life for people with developmental disabilities...

New Jersey Repeals Estate Tax

Posted by Michael S. Selvaggi | Oct 26, 2016 | 0 Comments

On October 14, 2016, Governor Chris Christie signed into law the bill repealing the New Jersey Estate Tax as of January 1, 2018.  It was part of the deal which included the 23-cents-a-gallon tax hike to renew the state Transportation Fund.  The New Jersey Estate Tax exemption will remain at $675,...

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