The last proposed budget of Barack Obama’s presidency contains several changes to the tax code that could affect your estate plan.
Posts Tagged: estate tax
Cost Basis Planning
Now that only 0.2% of us have to worry about the estate tax (for the time being, anyway), it is appropriate to focus on the capital gains tax as the primary threat to our ability to pass assets to our loved ones.
What is the deal with the estate tax?
What you don’t know can take a nasty bite out of your estate.
Shutting Down a Trust
Trusts are powerful tools that can give rise to important benefits. But not everybody needs one.
Be Aware Of State Death Taxes
Most of us don’t have to worry about the federal estate tax, but remember that your state, or any state where you own real property, could still hit your heirs with a hefty death tax.
WHERE NOT TO DIE IN 2013
State estate and inheritance taxes have been in constant flux over the last decade. And it’s not just the list of states that has been changing, but in some states, the level at which the tax kicks in has been changing (both up and down). So it’s important to stay on top of this to avoid a surprise tax bill.
When Environmental Laws and Tax Laws Collide
How do you deal with a valuable asset that cannot legally be sold when the IRS says that you owe $29.2 million in estate taxes on it? This is a real live case involving a piece of art that includes a stuffed bald eagle.
Ongoing Estate Tax Uncertainty
The future of the federal estate tax is in the hands of the voters this November. A lot depends on the makeup of Congress come 2013. Here are some probable scenarios of how the current uncertainty will play out.
Fourth Quarter 2011 Tax Developments
There were a number of important tax developments in the fourth quarter of 2011. Be sure to consult your trusted tax advisors if any of these apply to you.
Al Davis, RIP
Oakland Raiders owner and former head coach Al Davis is famous for a lot of things, including his quote, “We don’t take what the defense gives us; we take whatever the hell we want.” Mr. Davis has gone on to his eternal rewards, leaving his family to face an adversary that is more intimidating than the Raiders in their glory years. But there is good news for the rest of us. Even when you are up against the IRS, there are ways to, in Mr. Davis’ immortal words, “Just win, Baby!”