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 Estate Taxes And The Cliff: Would You ‘Pull… The Plug On Grandma To Save Tax Dollars?

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PostSubject: Estate Taxes And The Cliff: Would You ‘Pull… The Plug On Grandma To Save Tax Dollars?   Sat Dec 29, 2012 12:26 pm

With all the talk of what will happen when the U.S. goes over the fiscal cliff, one particular detail has been left out of the national discussion: the estate tax (a.k.a. the “death tax”). Currently the estate tax is set at 35 percent, and exempts any estate worth up to 5 million dollars from having to pay. But when the nation goes off the cliff next week, the exemption will drop down to estates valued at up to a million dollars and the rate will jump from 35 to 55 percent. This all inspired CNBC’s John Carney to wonder: are rich people pulling the plug on granny en masse to avoid paying higher taxes?

read more: http://www.mediaite.com/online/estate-taxes-and-the-cliff-would-you-pull-the-plug-on-grandma-to-save-tax-dollars/
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