Gift Before It’s Too Late | Sheffield News

Starting next April, pensions left behind after you pass will be hit with inheritance tax — and with the threshold frozen at $325,000, many estates are suddenly at risk. That’s driving people to act now, using smart gifting strategies to shield wealth. You can give up to $3,000 annually tax-free per person — or $6,000 if you carry over from last year. Plus, there’s a “surplus income” loophole: if you can prove you’re earning more than you need to live, those extra funds can be gifted tax-free — but only if you keep meticulous records to prove it. It’s about protecting your legacy from the taxman, one thoughtful gift at a time. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8da80703432fb40d