Megan McArdle makes an argument for a 100% estate tax rate. The first time I heard this argument was from my estate planning professor in 1986. I thought it was ludicrous then and I find it even more troublesome now.
Megan McArdle makes an argument for a 100% estate tax rate. The first time I heard this argument was from my estate planning professor in 1986. I thought it was ludicrous then and I find it even more troublesome now.
If couples do not have proper financial planning, the woman is most often hurt the most and her lifestyle will be reduced permanently.
The Cincinnati Enquirer has a nice article about the Ohio Estate Tax. The tax applies only to taxpayers with assets valued at more than $338K. Proponents of the tax claim repeal would only benefit the “wealthy.” How they consider a $338K net worth as wealthy is laughable. A house and a retirement plan should put most taxpayers over the threshold.
The IRS released its list of Dirty Dozen Tax Scams.
Some wealthy individuals are hesitant to use the new $5 million gift tax exemption because they fear damaging the initiative and ambition of their children.