Apr 292013

After 12 years of uncertainty, the estate and gift tax laws were revised and made permanent.  However, before we get too comfortable with these new provisions, let’s take a look at President Obama’s proposed 2014 budget.  It looks like the newly-enacted estate and gift tax laws may be on the chopping block.  The proposed budget set forth by the White House includes reducing the personal estate tax exemption amount to $3.5 million, without inflation adjustments, beginning in 2018.  Gift tax exclusions would likewise be reduced, as well as some other inheritance-based taxes.

Coming soon: More estate-tax battles – Encore – MarketWatch.

 April 29, 2013  Posted by at 4:32 pm  Add comments

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