Godlike Productions - Conspiracy Forum
Users Online Now: 2,227 (Who's On?)Visitors Today: 1,476,521
Pageviews Today: 2,046,681Threads Today: 560Posts Today: 10,924
05:43 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

"Fiscal Cliff" & GWB , will his greedy family pull the plug before the 31st ?

 
Anonymous Coward
User ID: 18850702
United States
12/28/2012 11:47 PM
Report Abusive Post
Report Copyright Violation
"Fiscal Cliff" & GWB , will his greedy family pull the plug before the 31st ?
In 2010, after a year in which the estate tax was zeroed out altogether, Congress passed a law that set the estate tax at 35% and exempted all estates under $5 million, adjusted for inflation. That law expires in January 2013 when the exemption will fall to $1 million and the tax will rise to 55%.
Many families are faced with a stark proposition. If the life of an elderly wealthy family member extends into 2013, the tax bills will be substantially higher. An estate that could bequest $3 million this year will leave just $1.9 million after taxes next year. Shifting a death from January to December could produce $1.1 million in tax savings. 



[link to taxprof.typepad.com]

News