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What No More Estate Taxes?

By Kristina R Haymes

We spend time and effort creating plans to find legal ways to avoid paying taxes. We all pay taxes everyday… from property tax, to sales tax, to gasoline tax, to Mello Roos  (a nice little tax on newer homes here in Carmel Valley to fund new schools)… Taxes are everywhere. So, when a tax is set to disappear… people take notice. The Federal Estate Tax is scheduled to disappear next year.  However, according to the Wall Street Journal, “Washington insiders are betting lawmakers won’t let that happen.”  Currently, an individual can pass on $3.5 million at death without paying any tax (the amount has gradually been increasing since the law was passed in 2000).  After going to zero in 2010, the exemption is set to go back down to $1 million in 2011...continue to full post

Full post as published by Mediation Marketing Tips on October 31, 2009 (boomark / email).