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…
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…
1) Increase in Ordinary Income Tax Rates The highest ordinary income tax rate is 35%. This is scheduled to go up to 39.6%
Have you made a loan to a child or grandchild? When making a loan, you have an expectation of getting paid back. When a family loan turns into a grant, you’re not going to get paid back. Here are 3…
Do your children or grandchildren need some financial assistance? Here are 3 Easy Ways to help them: 1) Make a Loan Parents and grandparents can loan to their child or grandchild. If this is the approach taken, a formal…
Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following: