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Started By
Message
re: Burial insurance/plot
Posted on 5/2/13 at 11:05 am to Broke
Posted on 5/2/13 at 11:05 am to Broke
quote:
The only problem is that often that money has already been taxed.
So what? When I pay sales tax, I pay using money that's been subject to income tax. And whatever I buy may have been subject to an income tax/tariff on importation. And the retailer will have to pay tax on that money if it turns a profit. And the retailer's shareholders will have to pay taxes on any distribution from those profits.
I don't know why this "already been taxed" argument has gained so much traction with respect to the estate tax specifically, when it literally applies to every single tax on the planet.
It also oddly treats money like it isn't fungible, like there's something unique about a particular dollar where, once that dollar is taxed, it should not be subject to tax again. But the government doesn't tax dollars, it taxes transactions. And inheritance is, in its way, a transaction.
Posted on 5/2/13 at 11:29 am to Cold Cous Cous
My hate is self serving. If I have to fork over 40% of my clients assets to the government, I'm pissed.
And it rarely happens. I know the right estate attorneys.
And it rarely happens. I know the right estate attorneys.
Posted on 5/2/13 at 11:33 am to Broke
I happen to agree with you. Passing along money to heirs that has already been taxed should be a tax free transaction IMO.
Posted on 5/2/13 at 11:44 am to VABuckeye
It's a money grab from the rich imo
Posted on 5/2/13 at 3:14 pm to 756
quote:
Yep when you occupy the plot you no longer pay taxes
This reminds me of a client I had whose SO died.
Bill collectors started calling her so she told them he moved
and gave them the address of the cemetery.
True story.
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