PG Calc released Planned Giving Manager 7.5 (PGM) on January 30, 2018. This update features tax tables updated to reflect changes under the 2017 Tax Act, including the new $11.18 million* estate, gift, and generation skipping tax exemption and new income tax rates and brackets for trusts. PGM also includes references to the new 60% of AGI limit on gifts of cash to public charities, and options regarding the deductibility of state taxes from federal income tax and the scheduled expiration of the increased transfer tax exemption after 2025.
Please contact PG Calc Client Services at firstname.lastname@example.org or 888-474-2252 if you have any questions about these updates.
* This amount has not yet been confirmed by the IRS. If the IRS announces a transfer tax exemption that is higher or lower than $11.18 million, PG Calc will update PGM with the correct rate.