A Slick Estate Planning Trick And Intimations Of Mortality
Although they are figured on the same cumulative unified tax table gift taxes are actually lower than estate taxes. Quite a bit lower. Let’s talk large estates where the unified credit is not that significant and likely was used up with gifts in the past. $100 million passing through an estate at the current top marginal rate of 40% leaves $60 million for the heirs. Prior to death that same $100 million could support a gift of over $71 million and the resulting gift tax of nearly $29 million.
Noted Catholic Historian Not Surprised By Dorothy Day Reference In Pope Francis Speech
The other day I included in a tax post on the IRS and church endorsements of political candidates, the fantasy that Pope Francis might endorse his biggest fan among the...
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.