chanel
Silver Member
On Jan. 1, 2013, the estate tax is set to climb to as high as 55 percent among the highest in the world economy with the exclusion rate dropping to just $1 million, making 2013 a bad year to die for small businesses owners and the wealthy.
The estate tax often called the death tax had been on the decline due to the Bush tax cuts, even reaching zero in 2010. Since then, it has risen back to 35 percent, with an $5 million exclusion, where it remains today.
Read more: 'Death tax' increase makes 2013 a very bad year to die | The Daily Caller
Many people believe that Congress will compromise on a $3.5 million exclusion, however who knows what will happen if the Dems win? How many different ways have they concocted to "screw the rich"?
Estate planners must be quite busy these days.