Jan 042013
 

Now that the Senate and House have done some work to address the fiscal cliff, we know the future for the estate and gift tax.  The 2012 exclusion amount of $5.12 million is now set to remain in place.  The tax rate on estates in excess of that amount is now 40% (up from 35%).  The article linked below explains the revised statutes in detail.

http://www.forbes.com/sites/deborahljacobs/2013/01/02/after-the-fiscal-cliff-deal-estate-and-gift-tax-explained/

 January 4, 2013  Posted by at 12:53 pm No Responses »