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How to Double Your Estate Tax Exclusion by Using a Credit Shelter Trust

Posted in Tax News on July 8, 2011

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…

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The Last Tax Cut

Posted in Tax News on June 30, 2011

The Obama administration is exploring a temporary tax cut for employers on their payroll tax obligations.

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How (And When) to File a Federal Gift Tax Return

Posted in Tax News on June 23, 2011

Form 709, is required to be filed if a gift is made to someone for more than $13,000 in one year.  Gifts between spouses are not required to file.  Gifts can be made to an unlimited number of people in…

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Is Estate Planning Dead?

Posted in Tax News on June 16, 2011

With the Federal Estate Tax Exclusion of $5 million, many commentators have suggested estate planning is dead.  I think this deserves a closer look.

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8 Ways to Withdraw From Your IRA Before Age 59½ Without Penalty

Posted in Tax News on June 9, 2011

Traditional IRAs were designed to provide an opportunity for people to save for retirement on a pre-tax, tax-deferred basis.  In other words, the money grows without having to pay any taxes currently on the gains.

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