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1) Increase in Ordinary Income Tax Rates The highest ordinary income tax rate is 35%. This is scheduled to go up to 39.6%
Donors should give appreciated property to their favorite charity. Appreciated property is property whose Fair Market Value exceeds the cost basis. Cost basis is generally what was paid for an item.
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…
With the Federal Estate Tax Exclusion of $5 million, many commentators have suggested estate planning is dead. I think this deserves a closer look.
When was the last time you checked your beneficiary designations for your retirement accounts that were established years ago? Beneficiaries are the individuals or entities (such as a charity) that you name to receive these assets upon your death. You…
