In 2010 when a person died, there would have been no estate tax owed, according to a New York Probate Lawyer. He added that in 2010 the estate tax had been repealed. In 2011, estate taxes will be reinstated but a high amount of $5 million will be set. In…
A local Ohio town worries about the effects eliminating the estate tax will have on its overall revenue and future plans. The town’s financial director says here city receives a large chunk of revenue from estate taxes currently. For example an Estate that’s valued at over $500,000 is taxed at…
Think that Canadians are exempt from paying estate tax? One New York Estate Planning Lawyer says you could be wrong. Even Canadians who have never so much has set foot on US soil are on the hook for estate tax in many situations, if they don’t take the right precautions…