Posts Tagged ‘ Step up in Basis ’

Obama Signs New Tax Law: How It Affects You

300px-MarginalIncomeTax.svg

The House and Senate have passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, also known as the 2010 Tax Relief Act, and President Obama signed the bill today.  Let’s take a brief first look at how the new law will affect all of us.  Read more...

Read more »

Senate Tax Bill Introduced: Impact on Estate Taxes and Revenues

300px-Harry_Reid_official_portrait

Yesterday, Senate Majority Leader Harry Reid introduced the first Congressional bill that reflects the Obama-Republican compromises on estate taxes from earlier this week. Hani Sarji at forbes.com has closely monitored the estate tax debate all week and provided an excellent summary of Reid’s bill early this morning.  Here, I summarize his summary by briefly explaining…

Read more »

The Estate Tax Debate: Some Behind-the-Scenes Concerns

300px-US_Congressional_Seal.svg

A $5 million estate tax exemption with a lower estate tax rate?  Executive Branch vs. Legislative Branch?  Democrats vs. Republicans?  These are exciting times for estate planning enthusiasts.  I have always wondered why there was never a “Law and Order” or “L.A. Law” type of show featuring estate planning lawyers.  “No, Ms. Senior Partner, a…

Read more »