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.
One of the primary estate planning concerns for most clients is estate taxes. Indeed, for most people, the main goal of their estate plan is to reduce or eliminate Texas estate tax, if at all possible. The federal estate tax rate is 40%, however, there is an estate tax exemption available. While Texas no longer [ ] The post Answers to Your Questions about the Estate Tax appeared first on Vermillion Law Firm LLC.
Updated: 2013 Federal Income Tax Brackets And Marginal Rates
Now that Congress has passed a new law to avoid the fiscal cliff, the American Taxpayer Relief Act of we have a better picture of the marginal tax rates for 2013 ahead of the official announcement from the IRS.
In addition to the federal estate tax of 40 percent (which is fourth highest in the OECD), many U.S. states levy their own estate and inheritance taxes. Estate taxes are charged against the estate regardless of who inherits the assets, while inheritance taxes are levied on the transfer of assets to heirs, based on the relationship of the inheritor to the deceased.
Federal Estate and Gift Tax Rates, Exemptions, and Exclusions, 1916-2014 - Tax Foundation - Tax Foundation
What You Need to Know About the Federal Estate Tax
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Here's What Your Taxes Will Look Like In Obama's Second Term