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Last Minute Tax Strategies for 2012

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Tick Tock. Tick Tock.  

Summer is almost over and the 2010 Tax Act is scheduled to sunset at the end of this year.   The result is the end of the extremely favorable estate, gift and generation skipping (GST) lifetime tax exemption (currently at $5,120,000 per individual or $10,240,000 per couple).  As it currently stands, the rates will drop …