Inheritance Tax Rates & Exemptions Advice
Estate Taxes Guide - Inheritance Tax Laws
The Federal Estate Tax or FET, for short, has been around for literally 100 years. Misinformation has spread rampantly about this tax, mostly by those who call for its repeal; the owners of large estates, you know, the wealthy. They give it the name "Death Tax" and the plebeians begin singing of its horrors in the streets.
April 15th, otherwise own as Tax Day, is ever nearing. If you're one of the millions of Americans that has decided to put off your filing to closer to deadline day and are trying to jog your memory back into tax filing gear, no worries. That's what this entry is for.
Being on the receiving line of an Internal Revenue Service agents phone call or mailing informing you that your tax returns are being audited is a nightmare that millions of Americans have undoubtedly had. A tax audit can turn an otherwise quiet life upside down and cause undue stress on an individual and their family.
Finding the right tax professional who is able to find you every deduction, credit, and write-offs can oftentimes seem like an impossible task, but it doesn't have to be.
Determining whether or not you have to pay taxes on your Social Security benefits really comes down to two factors: 1) your tax filing status, and 2) the amount of your "combined" income. Generally speaking though, you will not have to pay any taxes on your Social Security benefits at all, if that is your only source of income.
Have you ever made contributions to an IRA account, then wondered if you can deduct that investment from your taxes? The simple answer yes, you can, but only in some cases.It all depends on what kind of IRA you contribute to, and in some cases your income level, and if you are covered by an employer-run retirement account or not.
Every state figures out a way to collect revenue in the form of taxes, but not every state is equal in how they go about doing that. Some states have a high sales tax while others have no sales tax at all. This piece will focus on breaking down the best and worst states when it comes to their sales tax.
Most people's goal every tax season is to figure out how to owe as little in taxes as possible. The purpose of this entry is to help you with that. The goal here is to show you a handful of ways that you can potentially lower your tax bracket through various personal deductions, thereby lowering the percentage you are taxed at, and save you money.
The Child Tax Credit is one of the most straight forward tax credits that are available for Americans of all tax brackets. First enacted in 1997 and expanded in 2001, this credit has helped offset the cost of raising an eligible child under the age of seventeen.
Ever wonder what would happen if you just skipped out on filing your taxes? You get your paperwork back from your employer, either in the mail or through e-mail, and just think too yourself, ugh, not again. I don't want to go through this hassle again. So you just let the task fade back to a darker corner of your mind, and forget about it.
Estate Tax News & Opinion Articles
|Mon Jan 23, 2017 | wealthmanagement.com|
Despite the possible repeal, estate planning attorneys attending their biggest professional conference said they remain optimistic about the need for their services, and...
|Mon Mar 28, 2016 | chron.com|
Lifetime gifting can affect your individual income taxes, your individual estate and gift taxes, and the capital gains taxes that potentially are to be paid by the...
|Wed Apr 08, 2015 | chicagotribune.com|
For unmarried couples, making a will is paramount, especially if they are sharing a home owned by just one member of the couple. If the homeowner dies without an estate...
|Thu Mar 26, 2015 | thehill.com|
Sen. John Thune (R-S.D.) said "a death in the family should not be a taxable event."
|Wed Mar 25, 2015 | forbes.com|
Portability is still tripping up surviving spouses and their advisors, and the American Institute of CPAs is calling on the Treasury to help them.
Estate Tax Videos
|Fri Mar 20, 2015|
This video discusses the concept of the inheritance tax and explains how the inheritance tax differs from the...
|Fri Mar 20, 2015|
This video introduces the viewer to the estate tax. The video explains what the estate tax is and provides an...
|Fri Jul 10, 2009|
As attention turns from Michael Jackson's death to the complex estate he left behind, experts are sorting through...