The Tax Cuts and Jobs Act, which was passed in December of 2017, brought large scale changes across the board. It significantly changed the landscape for taxes in general and in the realm of estate planning. It moved the estate exemption from $5,490,000 in 2017 to $11,200,000 per individual, meaning for federal estate tax purposes up to $11,200,000 of assets can pass to a non-spouse upon passing, free of Federal Estate Tax.
Fitzpatrick, Johnson & Associates CPAs is a full service accounting firm based in McMinnville, Oregon and servicing clients throughout Oregon’s Willamette Valley. Our team of Certified Public Accountants and accountants is dedicated to providing our clients with professional, personalized services, and guidance in a wide range of financial and business capacities.
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