The $12,000 annual exclusion is on the way

It's not official yet, but Professor Gerry Beyer reports here that the annual exclusion is expected to rise to $12,000 next year. The last bump was in 2002, and with inflation relatively calm in recent years I'm surprised that we've accumulated the 10% needed for the boost already. But there you have it--it means your 2005 marketing materials will have to be discarded at year-end.