Estate Tax-Federal Estate Tax

Sarah C asked:


A tax lien has been filed against our home for taxes my husband owes (we file seperatly). Once his 08 return is filed and a refund due will he receive that? Tax lien filed against our property last summer…??

Ismael Schmeichel

Rank Enrolled Agent asked:


No one like taxes since we should choose what we do with our money but I am wondering about what were the estate tax rates and exemptions during the Ronald Reagan Administration. If you can do a quick COLA to today (3.5 Million) that would help. Thanks

Ping Balding

steve20423 asked:


I own a building and the basis is $50k. Can I sell it for $75K to my brother who intends to sell it for $200k along with other assets this year resulting in little or no tax for me to pay and smaller tax bill for him to pay?
Is it legal and where can I find supporting information on transactions like this?

Andy

3D Farms asked:


A tax paid by less than 1/2 of 1% of Americans , while keeping their own wage increase of , a $ 3300 raise ?

Jeanna Bandley

Jack P asked:


New York taxes are the second highest in the U>S> second to Hawaii!! My property is assessed at 138,000 and the rate is 47 per thousand. I live in Nowheresville between Rochester and Syracuse. What could the tax rate be on a $5,000,000. condo in Manhattan? Or what was Jackie Kennedy’s paying for real estate taxes on her Park Avenue penthouse condo that was valued at $50,000,000 years ago when she died?!! What are the taxes on that condo now?

Pearlie Tinin

N e asked:


I have put the estate in a trust within leagle guidlines and dispurse the interest to myself and brother, we are the only beneficaries and I use a CPA each year to keep it all straight. I send my brother a K-1 form each year so he can claim the interest on his taxes.
I just found out that he has not filed taxes in years!
My question is–If my brother gets in trouble wit the IRS can the IRS come back on the trust I set up?

Carlota Wommack

reydelindy asked:


a year of my real estate taxes were sold. what does this mean? were do i find out more about this, i haven’t gotten any letters from my city since.

Caryl Lasaint

Lilah asked:


I was raised in Thibodaux, LA and am currently reside in CA. I would like to go back to Louisiana and invest commercial/office real estate in the French Quarter area of New Orleans. Can someone from that area give me some helpful advice? Would Baton Rouge be a better investment area?

Antoinette Viana

amazed asked:


how do the individual states in the United States tax a persons estate when they die?? is the estate always the one responsible for paying the death tax or is the liability for such tax transfered to the heirs in some states?? what are the differences and types of death taxes (US only) i am referring to a decendents after tax assets such as a bank account,. i am NOT referring to tax advantaged or tax deferred monies such as 401k, 403b, 457plan or a traditional ira

Kerry Peiffer

skycat asked:


Which political party protects people from the above for estates valued at less then 750,000 and capital gains at less then 500,000 for a couple. Are we better with the policies in place now or if the Dem’s get in?

It seems Obama and Hillary are sidestepping this when they talk about not taxing the middle class..

Jutta Train