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First $10.9 million of an estate is tax exempt for a couple


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The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs.

Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.45 million per person (effectively $10.9 million per married couple) in 2016.[2]

The estate tax thus limits, to a modest degree, the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise go untaxed.

 

The estate tax has been an important source of federal revenue for a century, yet a number of misconceptions continue to surround it. This report briefly describes ten facts about the federal estate tax.

 

(While this paper focuses on the federal estate tax, taxes on inherited wealth are also a traditional and common revenue source for states.)

http://www.cbpp.org/research/federal-tax/ten-facts-you-should-know-about-the-federal-estate-tax

 

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The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs.

Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.45 million per person (effectively $10.9 million per married couple) in 2016.[2]

 

The estate tax thus limits, to a modest degree, the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise go untaxed.

 

The estate tax has been an important source of federal revenue for a century, yet a number of misconceptions continue to surround it. This report briefly describes ten facts about the federal estate tax.

 

(While this paper focuses on the federal estate tax, taxes on inherited wealth are also a traditional and common revenue source for states.)

http://www.cbpp.org/research/federal-tax/ten-facts-you-should-know-about-the-federal-estate-tax

 

 

All ten are based on the ends justifying the means.

 

If someone inherits a piece of art and has to sell it to pay a tax on it, then that's fucked up. If you want government to be an inheritor, become rich and bequeath what you have to government.

 

The thing you hate, is liberty.

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The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs.

Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.45 million per person (effectively $10.9 million per married couple) in 2016.[2]

 

The estate tax thus limits, to a modest degree, the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise go untaxed.

 

The estate tax has been an important source of federal revenue for a century, yet a number of misconceptions continue to surround it. This report briefly describes ten facts about the federal estate tax.

 

(While this paper focuses on the federal estate tax, taxes on inherited wealth are also a traditional and common revenue source for states.)

http://www.cbpp.org/research/federal-tax/ten-facts-you-should-know-about-the-federal-estate-tax

 

 

 

bump thank you ....

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The only thing I would concede, out of fairness, when an estate is being settled is a capital gains tax on the step up in basis for investments. However, I think that capital gain should be at a lower rate as the "gain" is really on paper and any gain should be offset by any "loss" that may exist. Other than that one thing, death should not be a taxable event. Taxes were paid on the money used to purchase the assets, taxes were paid on interest and/or dividends from the investments, in some cases taxes were paid while the asset was owned based on its appraised value.

 

As a rule, I am against double taxation by the same entity.

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The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs.

Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.45 million per person (effectively $10.9 million per married couple) in 2016.[2]

 

The estate tax thus limits, to a modest degree, the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise go untaxed.

 

The estate tax has been an important source of federal revenue for a century, yet a number of misconceptions continue to surround it. This report briefly describes ten facts about the federal estate tax.

 

(While this paper focuses on the federal estate tax, taxes on inherited wealth are also a traditional and common revenue source for states.)

http://www.cbpp.org/research/federal-tax/ten-facts-you-should-know-about-the-federal-estate-tax

 

 

 

Sorry Merrill. You don't get a voice in this argument anymore. You lost.

Now shut up, sit down, and watch the economy grow.

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All ten are based on the ends justifying the means.

 

If someone inherits a piece of art and has to sell it to pay a tax on it, then that's fucked up. If you want government to be an inheritor, become rich and bequeath what you have to government.

 

The thing you hate, is liberty.

 

BEEN THERE, Goober!!!

http://www.liberalforum.org/index.php?/topic/204211-donald-trump-wants-to-get-rid-of-the-estate-tax/

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Sorry Merrill. You don't get a voice in this argument anymore. You lost.

Now shut up, sit down, and watch the economy grow.

 

big-thumbs-up-smiley-emoticon.gif

gop-cry-baby.jpg . No-Fair1.jpg . gop-cry-baby.jpg

December 2, 2016

 

"U.S. employers boosted hiring in November and the unemployment rate dropped to a more than nine-year low of 4.6 percent, making it almost certain that the Federal Reserve will raise interest rates later this month.

 

Nonfarm payrolls increased by 178,000 jobs last month after increasing by 142,000 in October, the Labor Department said on Friday. The solid employment gains likely reflect growing confidence in the economy, which has been marked by rising consumer spending and inflation.

 

The unemployment rate fell three-tenths of a percentage point last month, hitting its lowest level since August 2007, because more people found work as well as dropped out of the labor force. The decline in unemployment was concentrated among men.

 

The employment report joined reports on consumer spending, the housing market and manufacturing in suggesting the economy continued to gain momentum in the fourth quarter after output increased at its fastest pace in two years in the July-September period."

http://www.reuters.c...y-idUSKBN13R0D9

GOPcrybabies.jpg

 

 

Been where?

 

 

groan.gif

Another hypertext-challenged Trumpoid.....

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Sorry Merrill. You don't get a voice in this argument anymore. You lost.

Now shut up, sit down, and watch the economy grow.

yeah you assholes said the same thing under Bush

 

 

then you lied us to a war that still harms us over a decade later and crashed the entire world economy

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The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs.

Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.45 million per person (effectively $10.9 million per married couple) in 2016.[2]

 

The estate tax thus limits, to a modest degree, the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise go untaxed.

 

The estate tax has been an important source of federal revenue for a century, yet a number of misconceptions continue to surround it. This report briefly describes ten facts about the federal estate tax.

 

(While this paper focuses on the federal estate tax, taxes on inherited wealth are also a traditional and common revenue source for states.)

http://www.cbpp.org/research/federal-tax/ten-facts-you-should-know-about-the-federal-estate-tax

 

 

I don't favor an estate tax on anybody. Taxes have already been paid on the Re-Taxed items, just because the owner died. We should all be supporting ending the estate tax, which can be avoided by anyone with a living trust passing the wealth to a family member. The people who suffer are the poor, as usual.

The only thing I would concede, out of fairness, when an estate is being settled is a capital gains tax on the step up in basis for investments. However, I think that capital gain should be at a lower rate as the "gain" is really on paper and any gain should be offset by any "loss" that may exist. Other than that one thing, death should not be a taxable event. Taxes were paid on the money used to purchase the assets, taxes were paid on interest and/or dividends from the investments, in some cases taxes were paid while the asset was owned based on its appraised value.

 

As a rule, I am against double taxation by the same entity.

I think a one-tax by any source is enough. Gov. needs to find honest ways to raise revenue.

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I don't favor an estate tax on anybody. Taxes have already been paid on the Re-Taxed items, just because the owner died. We should all be supporting ending the estate tax, which can be avoided by anyone with a living trust passing the wealth to a family member. The people who suffer are the poor, as usual.

I think a one-tax by any source is enough. Gov. needs to find honest ways to raise revenue.

Why would the poor suffer? Doesn't your living will give everything you have to the poor? I don't get it.

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I thought cons were all about starting from scratch, pulling themselves up by the bootstraps, and working hard to achieve success (instead of creating aristocratic leisure class dynasties)?

 

Oops, another con hypocrisy exposed like a giant, diseased cock. :)

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