Sunday May 19, 2013
News
Bypass the Estate Tax
The American Taxpayer Relief Act of 2012 created permanent rules for federal estate planning. These principles are helpful in creating estate plans, since there now is reasonable certainty.
Estate Exemption – There is an applicable exclusion amount of $5 million plus indexed increases. For 2013, the exclusion amount is $5.25 million. This amount also applies to gifts and to generation skipping transfer taxes.
Estate Tax Rate – Those estates over the exclusion amount will be taxed at 40%. Estate tax equals $345,800 on the first...MORE
Coalition Supports Charitable Tax Deduction
This week, Senate Finance Chair Max Baucus (D-MT) and House Ways and Means Committee Chair Dave Camp (R-MI) continued to move forward with tax reform. Sen. Baucus noted that last week he and Rep. Camp had launched a new TaxReform.gov website.
Baucus stated, "Since the launch of the site less than a week ago, we have received thousands of ideas directly from the American people on how to improve the tax code. I want to thank all those who shared their ideas and opinions, and I encourage more people to logon to TaxReform.gov to let us know what you think the nation's tax system should look like."
Chairman Camp led a two-hour strategy meeting for House Republicans. They considered multiple ideas with...MORE
Assistive Technologies That Help Elderly Seniors Stay at Home
What types of new home technologies can you recommend to help me keep tabs on my elderly mother? She lives alone, about a one-hour drive from me and I worry about her safety.
Helping an aging parent...MORE
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