If you sell one of these assets – such as vehicles, stocks, bonds, collectibles, jewelry, precious metals, or real estate – and you sell it at a gain, you’ll pay a capital gain tax rate on some of the proceeds. Capital gain rates can be just as high as regular income taxes. Therefore, it’s worth exploring every possible strategy to keep these taxes at a minimum.
“Hillary Clinton Proposes 65% Top Rate for Estate Tax” blared a headline in The Wall Street Journal. Since the current top statutory tax rate on estates is 40 percent, Clinton’s proposal is nothing if not audacious. I can’t recall Barack Obama, our most left-leaning president, ever calling for a 65 percent increase in tax rates for the rich.
A Look at Trump's Claim About Clinton's Estate Tax Plan
Donald Trump suggested to an audience in Iowa Wednesday that family farmers will pay a 65 percent estate tax rate under Hillary Clinton's proposed tax plan, making it impossible for their children to "hold onto your farms." But how does that mesh with the facts? At the event, Trump said: “By the...
This Chart Shows How the Federal Estate Exemption Has Changed Since 1997
The exemption from federal estate taxes has gradually increased over the years while the estate tax rate has gradually decreased. Here you will find a chart that shows the increases in the exemption and decreases in the tax rate from 1997 through 2015.