Estate Tax

Do I Have To Pay Taxes On An Inheritance From A
Foreign Relative?

July 25, 2011

In the United States, those who receive gifts are not required to pay any gift taxes. The burden of paying the gift tax falls on the gift-giver. The same is true for those who receive testamentary gifts. The fact that the gift is from a foreign person is irrelevant. Although gifts or inheritances from foreign [...]

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Estate Planning for Couples

April 11, 2011

Under the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 into law on December 17 of last year, individuals can pass up to $5 million free of any estate tax liability. Additionally, can pass up to $10 million free of estate tax because a deceased spouse can transfer any unused tax exemption [...]

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Does Texas Have an Inheritance Tax?

March 1, 2011

The short answer to the question is no. Before 1995, Texas collected a separate inheritance tax, called a “pick-up tax.” The tax did not increase the total amount of estate tax paid upon death. Rather, a portion of the federal estate tax, equal to the allowable state death tax credit on the federal estate tax [...]

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A Temporary Fix: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

January 10, 2011
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It’s a Done Deal!

December 17, 2010

Last night, members of the House of Representatives approved the agreement reached between Republicans and President Obama, which temporarily extends Bush-era tax cuts for all Americans and sets the estate tax exemption amount at $5 million and the tax rate at 35 percent for individuals passing more than that to their heirs. The bill now [...]

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Deal or No Deal: The Estate Tax Debate Continues

December 13, 2010

If you’ve been keeping up with the estate tax debate, you’ve probably already heard that President Obama reached a tax cut agreement with Republicans last week. Part of the deal set the estate tax exemption amount at $5 million and the tax rate at 35 percent for individuals passing more than that to their heirs. [...]

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