Category Archives: Estate Tax

The last proposed budget of Barack Obama's presidency contains several changes to the tax codes important to estate planning. President Obama has submitted his last budget proposal to Congress. It contains many of the same changes to the tax code he has previously attempted to implement. While there appears to be little chance the Republican […]

In an effort to reduce their estate tax burdens, many wealthy families are tempted to undervalue their prized collections, such as art. The IRS, however, makes its own valuations. As with other taxes, most people seek ways to pay as little in estate taxes as possible. However, there is only so much wiggle room available […]

If your spouse passed away in the last three years, the IRS is offering a potential estate tax break for your estate. However, you need to act quickly if you want to take advantage of it. One of the newer and better provisions in tax law is that you can take advantage of any portion […]

When your beneficiary inherits your tax-deferred retirement plan (whether it’s a 401(k), IRA, 403(b), or SEP) after you pass away, they are required to pay taxes on all the money they receive. These taxes, which could include Income Taxes, Estate Taxes, and IRD Taxes (Income in Respect of a Decedent Taxes), can cost the beneficiary […]