Estate Tax-Federal Estate Tax

sonu asked:


In new york nasdau county.

I signed the contract and just realized that the seller has in the contract that i pay the transfer tax

Darrick Liedberg

Rahm asked:


or maybe low tax , in US it is 2 % but local governments use millage rate to increase that amount sometimes to 50% or more , it is insane .

Are there places in the world where taxes are reasonable or non existent besides Bahamas ?

Maisie Jolivette

TJ asked:


can someone give me a summary of what it is? does it have to do with property value?

Eleonora Farlow

Noey asked:


Just curious. i live in the chicagoland area and my husband is from Middlesbrough. want to know, in case we ever move to England.

Oliva Gibbins

stklotto asked:


My family has 18 acres of pasture land in Louisiana. My Dad who will be 80 this year and is in poor health is thinking of selling it. We have been renting it out a few weeks every year for a municipal event. It has been in my deceased mother’s family since before 1920 so the question is if we were to sell it now would we have to pay capital gains based on the price it sold for back before 1920 or should we wait and let it become part of the estate and pay estate taxes based on the appraised value or would it be the same? He doesn’t need the money; we just won’t be going back down there since my relatives have all passed away in the last 10 years.

Dale Palazola

parkave527 asked:


I’m thinking of Purchasing a home in Oakland, CA and I’m told the transfer tax will cost me $7000. Does anyone know if I can write this off on my tax return this year? Thanks in advance

Lynne Mccrosky

loulouthefirst39 asked:


Just curious! I have been tossed what I thought was a lot of bs — the tax records of my mom’s rental property say the house is in my sister’s name. She says the deed has mom’s name, the lawyer arranged something so in the event of my mom’s death/commitment to a senior/healthcare facility the property will not go to the state or the hospital, but (I guess) to my sister, although they didn’t say her specifically. I would think there’d be a will for all the kids, but I have been told there is no will & by others there is. I lived there many years & did so much for the property I feel I have been kept in the dark needlessly. Maybe this is none of my business, but when I have to deal with inspectors & tenants I feel like a moron not even knowing who in my family owns the building. I just bought my first home & I don’t see how this is possible.
That’s what I thought, if the tax records have her listed on the document with a sale on a certain date, duh! She swears there are papers to back this all up. She lives in another time zone, and there’s another sister here who won’t set foot in it (her husband has helped). I’m the sucker, and now she feels I am accusing them of lying (didn’t hey?). Thanks! This has gone on for YEARS.

Spencer Utzig

D D asked:


If i buy a house for $30k and sell it for $70k within a year, i know i have to pay capital gains taxes already but how is it calculated if im taxed at (ie 15%)? 15% from profits or what? Please give a simple break down, thanks

Rod Fabeck

rob asked:


We have until March 31st to pay them. What is the process if I cannot pay by then? Thanks

Angel

clinton f asked:


i want to start investing but dont have alot of cash

Jacquelyn Piker