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The House Passes Estate Tax Bill to Freeze Current Levels and Rates

estatetaxes

In a vote closer than I expected the house passed, an Estate Tax Bill!  For all intents and purposes the bill freezes the Federal Estate Tax (Remember State Estate tax is different) so that every U.S. Citizen has a $3,500,000 exemption and anything above that amount is effectively taxed at 45%.

The Bill passed 225

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Forget the Federal Estate Tax, You May Need to Worry About State Estate Taxes!

DeathTaxes

Almost every single day, I have to explain the Federal Estate Tax. The people I have to explain the federal estate tax to are not tax professionals, they are either financial advisors, other attorneys, or successful business owners. So, needless to say, I better explain estate taxes from 30,000 feet above. The details do

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Where are Estate Taxes Going?

DeathTaxes

The question I hear the most when I am teaching classes are, where do you think the Estate Taxes are going?  I always respond, they aren’t disappearing. Period.   The current administration (along with the last one) is running through money like it was beer at a keg party!  So is it likely that we are

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Audit Worries - Your Surviving Family may be in for a Suprise

IRS

I was reading my fav. magazine today, Trusts and Estates and came across an amazing article.  Trusts and Estates Magazine has been around since the early 1900s and is read by most of the Trust and Estates world – it costs $35 an issue, but luckily work picks it up!   The article titled, “The

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Simple Explanation of the Federal Estate Tax

Napkin Math Uploaded by Zehran on Flickr

Napkin Math Uploaded by Zehran on Flickr

On a daily basis I have to turn complicated tax issues into a simple discussion.  A discussion that I have to discuss/teach very often is the Federal Estate Tax.  Before we discuss the easy way to determine your Federal Estate Tax bill some caveats:

The

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Advantages of Using a Prepaid Credit Card

There are many benefits to using a prepaid credit card.  A prepaid credit, also known as a secured credit card  is defined by bank rate as a credit card that, “…requires a cash collateral deposit that becomes the credit line for that account.”

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