Estate Tax-Federal Estate Tax

HelpfulGuy208646 asked:


I live in Fairfax VA, and I recently bought some property for cheap, and it was below its assessed tax value. My taxes are pretty high right now, so I was wondering if there is a way to have my real estate taxes re-evaluated so my taxes will decrease?

Mason Keding

Andrew asked:


My mother-in-law is a UK citizen who has lived most of her life in the US. We’re worried that if my father-in-law dies she may be heavily taxed on the assets that she inherits. We know that non-U.S. citizen spouses are liable for different estate taxes than citizen spouses, but we’re not sure if this would apply to her. It is unlikely that the total estate is more than $1 million, but there is some real estate involved. We’ve been trying to urge her to get her citizenship, but she’s dragging her feet. Are there any good reasons we can give her for becoming a citizen at age 62?

Marilyn Worchester

onlinestuff3 asked:


I am trying to figure out how much state estate tax would be due for a maryland couple with a 7,500,000 estate. The federal side is easy but I cannot seem to find a Maryland table.
In case anyone is wondering they already have an A/B trust

Robby Figurski

Nancy L asked:


Liberals want to raise the minimum wage from $5.15 to $6.75 (over 3 years). The 1st raise in a decade. This would effect roughly about 5.8% of the workforce. Mostly women. A raise would still keep most of them below the poverty level.

The conservatives want to make this law contingent on whether they can make the Estate Tax permanent. The Estate Tax will exempt $5 million of an individual’s estate ($10 million per couple) from any taxes at all. This would effect about 7,500 of the wealthiest families in America. Roughly 6%.

Some theorize the minimum raise hike will hurt the economy. I think millionaires already have enough loopholes & tax shelters to prevent them from paying their fair share of taxes now. Many of them pay no taxes at all, or very little. It has passed in the House. It now goes to the Senate. What do you think and why?

Mervin Kribs

Tim N asked:


From my understanding if I make 100k as a single person, I pay 28% federal tax, plus state, plus medicare etc with a W2. What about if I make 100k in passive income from several real estate properties. How much taxes will I pay? What is the difference?
Thank you! Basically, what is the percentage difference between the two?
Thank you for your answers.
WHAT IS THE DIFFERENCE IN % BETWEEN TWO INCOMES AT $100,000 per year?

Barney Micalizzi