Manchester, CT 860.646.2465 • Niantic, CT 860.739.5459 • Storrs, CT 860.429.7885
Posts Tagged ‘Credit Shelter Trust’
Happy New (Tax) Year…Unlucky ’13?
The New Year’s celebrations are over.
It’s on to 2013.
Will this be unlucky 2013 for taxpayers?
We wrote earlier how there are 8 Reasons You Will Pay More Taxes in 2013…Guaranteed.
We also pointed out Why the Fiscal Cliff is Fiscally Irresponsible.
The reality is there will be tax increases. … Continue reading »
How to Double Your Estate Tax Exclusion by Using a Credit Shelter Trust
For 2011 and 2012, the federal estate tax exclusion is $5 million. For taxable estates in excess of $5 million, the highest federal tax rate is 35%. If there are no changes to the law, the federal estate tax exclusion will decline back to $1 million in 2013 and the highest federal estate tax bracket will be 55%.
Don't Look Now…Tax Rates are Headed Up!
The Bush era tax cuts are expiring. Here are some of the key tax rates for 2010 and 2011:
2010 2011
Ordinary Income 35% 39.6% Long Term Capital Gains 15% 20% Qualifying Dividends 15% 39.6% Estate Tax 0% 55%
Unless Congress decides to do something different, we are stuck with these tax rates. The numbers may need a little explanation.
