Estate Tax Exemption Rate on the Rise in New Jersey

If you follow this blog, you know that New Jersey is the most expensive state to die in . In an effort aimed at changing that distinction, Governor Christie in his budget proposal has recommended increasing the New Jersey Estate Tax Exemption Amount from $675,000 per person to $1 million per person....

Obama Suggests that $3.5 Million Estate Tax Exemption with Spousal Portability Acceptable

On his bus tour in Illinois last week, Obama responded to a question about the future of the estate tax from a local farmer. The President stated that a compromise between the current $5 million exemption ($10 million per married couple) and the $1 million exemption that will return in 2013 had...

Obama's 2013 Revenue Proposals

The White House has issued its 2013 fiscal year revenue proposals , with estate and gift tax changes consistent with administration's earlier stance on those rules. Beginning next year, the estate tax exemption would decrease to $3.5 million and the rate would increase to 45%. Spousal portability...

Another Tax Law Patch May Provide Permanent Estate Tax Laws

I have often lamented that the lack of permanency of tax laws is doing a huge disservice to the American population. We all have to pay our "fair share" of taxes. However, we don't need to pay more. These constant temporary tax laws make it near impossible to determine what "fair"...

Legislative Action

Congressional activity is heating up regarding the estate tax. As Republican and Democratic members of Congress wrestle with prospective changes to the Bush income tax cuts, the debate over federal estate tax also is on the legislative agenda. Although the estate tax is not directly related to whether...