Estate Tax-Federal Estate Tax

djt asked:


Are there ways to complain about your real estate taxes and get them decreased? How do I do this?
I’m just wondering how my taxes can go up when the value of my house keeps going down??!!

Doyle Bruegman

Ed M asked:


My corporation sold its building located in NYC. I am taking those funds and investing in a1031 exchange. Most likely a NNN property. I need to form a new company and move it out of NYC to avoid the city tax on the income of my new investment. It’s my understanding I can tranfer assets from one company to another and avoid the transfer tax provided I follow certain criteria. Is anyone aware of the ins & outs of this process?

Suanne Morgenroth

nodoubt2002002 asked:


My father signed over his interest in a building to me in 2002. He passed away early 2003. A tax lien in his name for taxes on another building was placed on the house I took control of in late 2003. Now I’m trying to sell and after first being told by a lawyer friend (about 8 months ago) that I wouldn’t be liable because the liability was attached to my father, my realtor is telling me that I am liable. I would be eternally grateful for any advice. I’m selling in Los Angeles.

Shiela Abston

snapper63 asked:


I share a piece of real estate in another state with my siblings. How do I declare the taxes that I paid last year on my portion of the real estate taxes that we paid on the residence?

Martina Pixler

dylanand asked:


Hi, I am hoping someone can give me an answer to a complicated question.

My grandparents have 3 trusts (2 individuals and 1 supplemental which was the value of their jointly owned residence). Grandpa passed away three years ago and the trust paid out under the $1M exemption estate tax rule. Now the question is, would the supplemental trust which goes to both families, follow the $1M exemption for estate taxes or is it based on the date that grandma may pass away which could be $2M to $3.5M or nothing? which date applies? tricky question I know..

Verline Clearman

gym asked:


Are IRAs (retirement accounts) subject to estate tax? (inheritence tax, death tax, whatever you want to call it…)
ie upon death is the amount in an IRA account considered part of someone’s estate and included in the estate value which is to be taxed??
Im confused, i thought there was only estate tax on the sum in the IRA if the ESTATE is named as the beneficiary, not individuals (ie Do not name the estate the beneficiary, this is because the IRA then becomes taxable to the estate and therefore is reduced by taxes. ) otherwise i understand it is not considered part of the estate and is NOT dispersed according to your will and it is NOT considered part of your estate, but rather through naming beneficiaries through bank forms…

Teresita Holbein

Stacey M asked:


I am the sole heir, executrix and power of attorney of my uncle’s estate and would like to know if there is anything I can do now to avoid paying estate or inheritance taxes when he dies. He lives in NJ and I live in FL and because of his medical condition he is unable to perform any physical or mental tasks at this time.

Elin Prock

TANNO33 asked:


i heard you dont need your own money or credit so how is it done i have no idea i heard you can become a millionaire i really want to start doing it anybody please explain me all the details thanks alot ppl.

Dante Droesch

Kathleen S asked:


The death was March of 09 in the state of Michigan.

The estate value is over/around 5 million dollars (Farm land, homes, business etc).
One spouse and one child (adult) and NO will.

Everything was going to be left to the child, but does it make a difference who it’s left to. Would they both have to pay inheritance or estate tax? And how much?
They are hoping to sell the land and the business,put it in an account and split the interest, until the spouse passes and the child get the remaining. (This is a step parent situation with the living spouse having other children from and different marriage that are not entitled to anything).

What would be the best option and is there any other alternatives to benefit both parties?

Thank you

Jolyn Kil

oscar b asked:


I do not plan on selling it. Should I or am I required to have it appraised?
My Mother passed in 2005 and the property was only recently signed over.

Ammie Carolla