Articles Tagged with Death Tax

New Tax Bill Signed Today

Published on: December 17, 2010 | by Rarick & Bowden Gold

Good news for taxpayers! The new tax bill was signed into law today. This law will extend for two additional years the Bush-era tax rates, including the 15 percent long-term capital gains and qualified dividends rate. It will provide substantial estate tax relief: the law will reintroduce the federal estate tax with higher exemption amounts, $5 million per person, $10 million per couple, and lower rates (35% maximum vs. 45% in past years), among other noteworthy provisions. The bill was approved by the House of Representatives late last night; it was signed by President Obama this afternoon.

Please contact estate planning attorney Phil Rarick at (305) 556-5209 to discuss the potential impact of the bill on you, your family and your business. This bill may open up important planning opportunities for you.

Estate or “Death Tax”: What’s the Latest News?

Published on: December 12, 2010 | by Rarick & Bowden Gold

It “appears” the President will agree to a future estate tax with a $5 million exemption and a 35% tax rate, although he is getting tremendous resistance from his own party. We need to wait and see how this shakes out. Regardless of your political affiliation, note that this agreed exemption and rate are only for two years.

As usual, Congress and the President are waiting until the last minute to compromise.

It they don’t, most people are in for a big tax hike. For example, without an agreement, the estate tax exemption is scheduled to reset with a $1 million exemption and a 55% maximum tax rate on January 1, 2011.