Making sense of illness, death and taxes through the eyes of Attorney and Author, Melinda Gustafson Gervasi
Monday, December 6, 2010
Movement on the Federal Estate Tax
Word out of Washington, D.C. tonight points to a deal on the Bush Era tax cuts, and finally resolution on the federal estate tax. If the proposed plan is signed into law, were are looking at a federal exemption of $5 million per person ( of $10 million per couple). Any amount in excess of the exemption would be taxed at 35%. This is a proposal and not yet law...keep monitoring for more information.