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Posts Tagged ‘estate tax’
3 Reasons to Fund a 529 College Savings Plan
1) College is Expensive
According to the College Board the average tuition for a 4 year private education is $39,518 per year. The average cost of a 4 year in- state public education is $17,860. Either way, it’s a lot of money.
6 Proven Reasons to Make a Charitable Donation from Your IRA to Save Money
The American Taxpayer Relief Act of 2012 has temporarily extended the ability of certain taxpayers to make charitable donations from their IRA.
The Basics
Charitably inclined taxpayers over age 70 1/2 can donate up to $100,000 per year from their IRA to a qualified charity. This is known as a Qualified Charitable Distribution. The donation must be made directly from the … Continue reading »
A Summary of the American Taxpayer Relief Act of 2012
The Federal Government avoided the Fiscal Cliff...Well, for now any way.
At the very last minute they passed the American Taxpayer Relief Act of 2012. Here are some of the highlights:
Income, Capital Gains and Qualifying Dividends Tax
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 »
The Last (Really BIG) Tax-Free Gift
Under current federal estate tax law there is an exclusion up to $5.12 million in 2012. Taxable estates above this amount are taxed at 35%. This exclusion is scheduled to decrease to $1 million beginning in 2013. The tax rate will also increase to 55%. This exclusion can be used either at death or during life. In other words, the federal estate tax and the federal gift tax are unified.
