Articles Posted in Estate Tax

By Phillip B. Rarick, Esq. and Gene C. Sulzberger, CFP®, J.D. In the United States there are multiple estate and gift tax traps if you are not a U.S. citizen or your spouse is not. If you are a non-resident, or a resident with a Green Card and own property in Florida or other parts…

On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, simply known as the “2010 Tax Relief Act” (TRA 2010). TRA 2010 includes significant changes for estate, gift and generation-skipping transfer (“GST”) tax relief in 2011 and 2012, as well as estate and GST…

Good news for taxpayers! The new tax bill was signed into law today. This law will extend for two additional years the Bush-era tax rates, including the 15 percent long-term capital gains and qualified dividends rate. It will provide substantial estate tax relief: the law will reintroduce the federal estate tax with higher exemption amounts,…

It “appears” the President will agree to a future estate tax with a $5 million exemption and a 35% tax rate, although he is getting tremendous resistance from his own party. We need to wait and see how this shakes out. Regardless of your political affiliation, note that this agreed exemption and rate are only…