Firm Updates
Friday, 22 January 2010 13:35
Dear Client,What a mess Congress has created! We are now in a year where there is no federal estate tax - but hold the cheers. Congress has substituted another method of taxation that will collect more taxes from many of our clients and families than the estate tax. Additionally, as has been reported in the local and national press, [1] these changes will, for some, greatly alter the planned for and anticipated distributions among family members and heirs.A brief review of the law will...
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Monday, 07 December 2009 17:32
Dear Clients:President Obama has begun to address the economy, the budget deficit, healthcare, taxes, and many other challenging issues, among them the uncertainty in the federal estate tax law.
For 2009, the estate tax exclusion amount is at a historic high of $3.5 million, up from $2 million in 2008, with a flat tax of 45% on the excess. (Washington State's estate tax exclusion remains at $2 million with rates up to 19%.) As part of the tax reductions passed in 2001, however, the estate...
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