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#1 |
Canyon Carver
Join Date: Nov 2008
Posts: 429
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So if your father leaves you a $100,000 it will cost you $45,000 for you to own it even though he already did!
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#2 |
Moto GP Star
Join Date: Feb 2008
Posts: 12,156
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Double taxation is nothing new.
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#3 |
TWFix Legend
Join Date: Feb 2008
Location: Denver CO
Moto: 01 BMW F650GS Dakar
Posts: 15,677
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Move him to canada before he dies
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#4 |
Follower
Join Date: Nov 2008
Posts: 5,549
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#5 |
yellow don't corner well
Join Date: Feb 2009
Location: Kansas City, KS
Moto: 06 ZX10R
Posts: 1,243
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I am obviously behind on this, thought they were getting rid of the death tax.
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#6 |
WERA White Plate
Join Date: Nov 2008
Posts: 1,059
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Change you can believe in!
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#7 |
Letzroll
Join Date: Feb 2008
Location: Lake Norman area, NC
Moto: 07 Red R1 & 07 Blue R6
Posts: 5,265
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#8 |
AMA Supersport
Join Date: Feb 2009
Posts: 4,756
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I would double check your source. The 45% estate tax carries over from 2009, along with the first $3.5 million being exempt from the tax.
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#9 |
Moto GP Star
Join Date: Feb 2008
Posts: 12,156
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#10 |
AMA Supersport
Join Date: Feb 2009
Posts: 4,756
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In 03 I believe it was the first million that was exempt, but after that it was taxed at 49%. Part of Bush's 2001 tax bill dealt with this tax by lowering the rate by 1% each year and steadily raising the exemption until next year when it was supposed to go away entirely. Obama's budget would keep it in effect.
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