Estate Tax-Federal Estate Tax

Tax Sale Auction in Houston, Texas 2009

Fiona Prato

Estate planning lawyer R. Michael Walters explains the Death Tax. The Death Tax will take effect In 2011 and will require you to pay as much as 55% when you die. You can avoid the death tax or reduce taxes by seeking advice from a trusted estate planning attorney.

Georgianne Greenhalge

This is a special edition of the Accounting Update! Greg exposes the idiocy of the estate tax. Angrier and more profane than he generally allows himself to be, this rant was definitely a crowd pleaser for the dumbasses that showed up for the Wiseguys open mic on August 24, 2011.

Jame Barclay

US Rep. Ed Perlmutter, D-Colo., answers a question Aug. 27, 2010, at The Denver Forum luncheon about what Congress may do about expiration of the Bush tax cuts; and discusses the estate tax.

Winston Demauri

The UltraTrust® is the best irrevocable trust asset protection plan to prevent estate taxes. The estate is everything you own after you die and assessed at fair market value. The estate tax is the only voluntary tax within the IRS. Without good estate planning and without an asset protection strategy (the UltraTrust® irrevocable trust) the estate tax of the IRS will force you to sell your estate at the worst of times. However, you must be able to separate yourself from your assets. The UltraTrust® irrevocable trust asset protection plan will not allow you to own the assets any longer. If you cannot separate yourself from your assets then somebody has to pay the estate taxes, the lawyers, the accountants, the government and the legal system. Each state has its own taxation with regards to your estate that resides in those states. Estate planning with the UltraTrust ® irrevocable trust will help protect your assets from the estate taxes.

Avelina Littles

Highlights of a discussion regarding the federal and Massachusetts Estate Tax with Attorney Ramsey Bahrawry

Morton Perko

On June 30, Ohio Governor John Kaisch signed into law a $56 billion, two-year budget that includes painful cuts to many public services including education. That didn’t stop the governor and legislators from finding room to give tax breaks to the wealthy. Ohio’s biggest revenue drop and boon for the state’s wealthiest taxpayers will come from the repeal of the state’s estate tax. Ohio law held that estates worth more than $338333 would be taxed before it was distributed to heirs or beneficiaries. That’s less than 10 percent of all decedents’ estates in the state. Unfortunately, the loss of this highly progressive tax in Ohio will probably be made up through increases in regressive local taxes. A recent CTJ article highlighted the need for an estate tax. Eighty percent of the tax revenue from estates goes to local governments, which amounted to $230.8 million in FY 2011. Coupled with other cuts in public services including education, local governments will really be feeling the pain this fiscal year. A last minute addition to the budget is a new tax break for investors of Ohio small businesses worth up to $100 million a year, dubbed “InvestOhio.” While supporters of the law claim it will spur job creation, there a few important details that suggest Ohio may just be wasting badly needed revenue. Qualified investors will receive a tax credit, but nothing in the law requires that investment to contribute to job creation. Furthermore, the law may be subsidizing investing …

Reyes Rokus

www.producersweb.com The November spotlight on estate planning discusses A group of small businesses speaking out in favor of estate tax; high-net-worth charitable giving drops in 2009; and uncertainty over federal tax rates puts states in budget limbo

Elizabeth

Nonresident aliens often have family in the United States. Chapter Six of Brian Dooley, CPA’s book, International Taxation in America, exposes little known American estate tax laws that are traps to the multinational family. Irrevocable offshore discretionary trusts are great for the nonresident but terrible for their children or grandchildren living in America. Chapter Six advises nonresidents to avoid investment in the American stock markets since their death tax rate is 55% of investment. Chapter Six explains why a foreign corporation does not avoid estate tax; and why an Irrevocable Nevada Trust does. Chapter Six is easy to read and is a must for the multinational family. Attorneys and CPA’s will be fascinated by the section 2036 and 2038 estate planning IRS private letter rulings.

Refugio Bonaparte

Michael Gray interviews James Quillinan, Esq. of Hopkins & Carley about the one-year federal estate tax repeal for Financial Insider Weekly. How will it affect your estate plan? Part 1 of 3 talks about carry-over basis and generation skipping tax.

Jarrett Nierer