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re: I don't understand inheritance tax

Posted on 1/18/16 at 8:56 pm to
Posted by achenator
Member since Oct 2014
2957 posts
Posted on 1/18/16 at 8:56 pm to
quote:

The income cap?

Why?

because I am self employed and make substantially more than the current cap
Posted by yellowfin
Coastal Bar
Member since May 2006
97717 posts
Posted on 1/18/16 at 9:00 pm to
Then you should want to keep it. Unless you want to pay more SS
Posted by PygmalionEffect
Member since Jul 2012
4834 posts
Posted on 1/18/16 at 10:31 pm to
The current estate tax exemption for a married couple is $10.8 Million and it is automatically adjusted for inflation every year.

A couple can also give $28,000 every year to anybody they want to tax free; sons, daughters, grandchildren, hired help, friends, etc etc.

If you're super wealthy then you're smarter than I am or have hired someone smarter than I am and have set up a myriad of estate tax loopholes like a grantor retained annuity trust to shield the income above $11 million.

Kind of a silly thread but it was entertaining to see the uninformed Trump voters chiming in with their strong completely baseless comments though.
This post was edited on 1/18/16 at 10:33 pm
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