Interesting kids down the block. Their chalk drawings inspired this haiku: Hopscotch? Much too tame. / These kids are C.S.I. fans / or quite macabre. And their art got me thinking about death and taxes and impending changes to the federal estate tax.
What You Need to Know About the Federal Estate Tax
1. Federal Estate Tax exemption now permanently increased so no tax for Estates under $5,340,000., and will be adjusted annually for inflation. However, New Jersey taxes estates over $675,000. 2. Gifts permitted without Federal Estate & Gift tax was increased to $14,000 per person. 3. We recommend Self- Proving Wills since witnesses often move or pass away
One of the primary estate planning concerns for most clients is estate taxes. Indeed, for most people, the main goal of their estate plan is to reduce or eliminate Texas estate tax, if at all possible. The federal estate tax rate is 40%, however, there is an estate tax exemption available. While Texas no longer [ ] The post Answers to Your Questions about the Estate Tax appeared first on Vermillion Law Firm LLC.
Only 2 Out of Every 1,000 Estates Will Owe Federal Estate Tax in 2016
Taxes on inheritance are imposed on property received from someone else’s estate after their death. The federal government does not impose an inheritance tax. Instead, inheritance taxes are imposed at the state level only. But, not all states impose an inheritance tax. In fact, only a few states have continued to impose the tax. With the... Read more