IRS Announces Higher Estate And Gift Tax Limits For 2021

November 9, 2020 "Time Saver & Helpful Hint" eNewsletter

Weekly News Update

Synopsis: The Internal Revenue Service announced the official estate and gift tax limits for 2021: The estate and gift tax exemption is $11.7 million per individual, up from $11.58 million in 2020. That means an individual could leave $11.7 million to heirs and pay no federal estate or gift tax, while a married couple could shield $23.4 million.

Weekly Time Saver & Helpful Hint

"What is a CUSIP number?"

CUSIP refers to the Committee on Uniform Securities Identification Procedures which oversees the entire CUSIP system. The CUSIP number is a unique identification number assigned to all stocks and registered bonds in the United States and Canada. It is used to create a concrete distinction between securities that are traded on public markets. Foreign securities have a similar number called the CINS number.

Last week's topic was:

"What is a SEDOL Number?"

You can access last week's eNewsletter by clicking HERE.

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APPRAISE in the Cloud provides historical stock and bond valuations in a web-based environment. You can access this service from your phone, tablet, laptop, or desktop computer, and your data follows you wherever you go.

Appraise in the Cloud generates date of death / alternate date, gift tax, market value, & closing price reporting. All you need is a credit card or account number, CUSIP or Ticker, and the shares/par value. You can email completed valuations in PDF format without leaving the application.

Though the product is easy to use, we have a tutorial video if you are interested.

Which valuations can I get from ESI-APPRAISE?

We give you access to all the tools, information, and professional support you need to increase your profits and serve your customers better:

IRS Form 706 Estate Tax
IRS Form 709 Gift Tax
Charitable Remainder Unitrust
Grantor Retained Annuity Trust
Domestic & Global Historical Pricing
Capital Changes
Cost Basis for Dividend Reinvestment Plans & Equities
1040/1041 Income Allocation for Calendar or Fiscal Year

How can I get a valuation from ESI-APPRAISE?

1. Secure online solutions (You do the work to save money.)

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· APPRAISE.Windows: Software on your computer; internet connection to access data

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Software on our computer, data on your computer for security
Always running the current version eliminating the need to install updates
Easy to add and remove users
More reports and features than traditional desktop installed software

· ESI-Direct: ONESOURCE Trust & Estate securities without valuation software

2. Outsourcing solution (We do the work and save you time.)

Valuations can be submitted/delivered via email, fax, overnight courier, or mail.

Upcoming ESI-APPRAISE Events

Nov 19: System Maintenance (5:00p ET)
Nov 25: (2:00p ET) close for day before Thanksgiving holiday
Nov 26: Thanksgiving Holiday
Nov 27: (2:00p ET) close for day after Thanksgiving holiday.

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