A: For 2023, the annual gift-tax exclusion will increase from $16,000 to $17,000. The lifetime estate exclusion will be $12.12 million for individuals and $24.24 million for couples. A: The standard deduction for 2022 is $12,950 and $25,900.
Nov. 30— ROCHESTER— A Wisconsin real estate investor, who often buys and sells multi-million dollar properties in the Rochester area, is facing three federal charges of bank fraud. On Nov. 17, Matthew Thomas Onofrio, 31, was indicted by a grand jury and charged by the U.S. Attorney's Office with three counts of bank fraud involving Minnesota properties in St. Cloud,…Read more