Estate Tax-Federal Estate Tax

John M asked: I will receive an inheritance from my parents and want to establish irrevocable trusts for my children with that money.
I would like to assign my interest in some of the estate assets to an irrevocable trust to avoid gift tax in creating these trust after I receive the money. ( I [...]

lady_bella asked: and there is no estate tax, or inheritance tax in the state of NM or AZ, unless the estate is worth over 600 thousand dollars, then do I have to claim that next year as an Income Received on my tax return?
If anyone knows, or if there is a professional out there who [...]

CHAD I asked: I am self employed and will not show much earned income. Is it always advisable to pay real estate taxes in the tax tear, even if you have maxed out allowable deductions?Lucio Chafin

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basketballfan asked: could the tax code be more complex? My girlfriends dad died in europe in 2002. he had set up stock funds in a major bank, 5 seperate jt ten accounts with each of 5 kids. The bank executive is executor of estate and recommends leaving the money in funds there [...]

Banker asked: I’m told that’s why there are antique wardrobes; real estate taxes were higher if you had closets in your house so the houses were built without closets and the people used furniture to store clothes instead of closets, the food pantry didn’t have a door so it couldn’t be called a closet.
Politicians pass [...]

Christian asked: do you think the real estate tax credit will get extendedChad Luinstra

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h asked: im filing chap 7 for a home which should end up foreclosing and… i got the county real estate bill due in jan. 7th. my bankruptcy lawyer told me on a phone that the bank or whoever buying through foreclosure will end up paying the tax, so don’t worry about it. is [...]

Flattruth asked: I need clarification regarding capital gains tax for a real estate transaction. I read generally 6% of selling price of the property or fair market value of the property received in an exchange transaction. Does this mean 6% of the difference between sell price and previous buy price (the profit) or [...]

n e asked: My friend inherited a house from her father’s estate. She is also going to be getting income from the estate on a quarterly basis… perhap $30,000 to $60,000 per year for about 10 years. Does my friend have to pay any tax on these proceeds (estate tax or income tax)?
The [...]

dreamy asked: I have no income for the last 10 years. But I got 100k in inheritence and bought a house with it in CA. Will i have to pay estate tax? Income tax? How much?Evan Navarre

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