“Nothing can be said to be certain, except death and taxes” – Benjamin Franklin
Just because they’re inevitable, doesn’t mean you shouldn’t live a healthy life for longevity, and position yourself to pay the least amount in ta
At least the final estate or death taxes.
The link below has the 10 worst states to die in, at least from a tax point of view.
Colorado — not on the list.
10 States with Scariest Death Taxes
Next year, barring congressional action, the exemption level falls to $1 million and the top rate rises to 55%
In an election year, this is a hot potato.
For years the exemption amount was unchanged at $600,000 but in the past 12 years or so it has continually gone up and down without much thought to the long term strategy.
How can we, as investors and tax payers, properly plan our estates when the rules keep changing?
Read the following article for more information.
Well, now is the chance for you to do something different with your estate.
This article is a pretty good list of things you can start today
1. Physical Items Inventory
2. Non-Physical items Inventory
3. Credit Cards and Debts List
4. ………..
Click for the Full Article
In addition to the Federal Estate Tax, some states (and DC) impose additional estate and/or inheritance taxes.
Fortunately, here in Colorado we don’t have estate or inheritance taxes and in comparison to many other states, our probate is relatively easy and simple.
That does not mean you shouldn’t do proper estate planning though! I work with a lot of great attorneys, so let me know how I can help.
What a disaster!
The Estate Tax exemption is about to revert to $1,000,000 again in just a few months.