From the category archives:

estate & gift

Guest Post: PAYGO, the estate tax and the Bush Tax Cuts

1 September 2010

This week, I’ve asked readers to chime in on the Bush tax cuts. This guest post is courtesy of Stuart C. Wardlaw, CPA (for more on the topic, see the original post): On January 20, 2009, the Bush Administration handed over not only the keys to the White House; but also a box full of [...]

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Guest Post: Death to the Estate Tax

31 August 2010

This week, I’ve asked readers to chime in on the Bush tax cuts. This guest post is courtesy of Vinny Kochetta (for more on the topic, see the original post): I do not see an ethical basis for the estate/death tax. If a bazillionaire chooses to be frugal and pass his fortune to a child, [...]

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What the Heck is Basis, Anyway?

20 July 2010

Last week, I committed a terrible tax blogging sin: I used jargon. I try not to use jargon on my blog. I find it annoying, for one, because who wants to actually sound like a tax attorney (no offense to my esteemed colleagues). But more importantly, what’s the point of reading a blog that you [...]

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Are Taxpayers Moving to Avoid More Taxes?

19 July 2010

It’s funny, my line of work. I practice tax law alongside my husband who practices international and corporate law. A significant portion of his practice involves business immigration work for companies who are interested in setting up shop here in the US. It’s always interesting to me, then, to read about taxpayers who are interested [...]

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Fix the Tax Code Friday: Federal Estate Tax

16 July 2010

This week, the death of George Steinbrenner rekindled discussions about the federal estate tax. As you may be aware, there is no federal estate tax for 2010. However, assuming that Congress doesn’t take action, next year the federal estate tax returns with a personal exemption of $1 million and a flat rate of 55%. Under [...]

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Federal Estate Tax Gets Some Interest

15 July 2010

On July 14, US Senators Blanche Lincoln (D-AR) and Jon Kyl (R-AZ) released a press release with a proposal to “permanently reform the federal estate tax.” Under the current scheme, there is no federal estate tax for 2010 but decedents’ estates for this year are subject to a set of complicated capital gains rules. Beginning [...]

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Steinbrenner’s final win — over estate taxes

14 July 2010

In case you missed my piece about Steinbrenner over at Walletpop: Steinbrenner’s final win — over estate taxes (Yes, even a Phillies fan can respect Steinbrenner’s legacy.)

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Trying to Sort Out 2010: Estate Planning

6 July 2010

One of my special interests has always been estate planning and the associated tax consequences (if you follow the blog, you may recall that I clerked at the IRS in the estates division). What you may not realize is that you don’t have to be rich to be subject to taxes at death – there [...]

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Ask the taxgirl: Gifts and Income

3 April 2010

Taxpayer asks: If I received $500 or say $5,000 in anonymous donations for brain surgery because I have no insurance, do I need to report that anywhere or as income? thank you for any help tax girl. Taxgirl says: So long as these are pure gifts – and you didn’t make any representations as to [...]

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Federal Estate Tax Update

28 December 2009

Um, there is none. Seriously. And just three more days left in the year. The discussions about the constitutionality of a retroactive tax have already started flying. My two cents: it’s a stupid idea but it will likely pass muster.

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