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Friday, July 20, 2012

Potential ‘Death Tax’ Increase Makes 2013 a Very Bad Year to Die

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.

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2 comments:

Anonymous said...

if ur dead why do we still have to pay taxes????

Anonymous said...

families have to pay the tax before they receive the money