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Next year had been shaping up as a great year to get a big inheritance 151; no federal taxes on it. Congress, however, has other plans for the few wealthy heirs expecting a big boon. Uncle Sam may take a 45 percent cut after all.Under current law, the federal estate tax is scheduled to temporarily disappear next year before returning in 2011 at an even higher rate. But the House is expected to vote as early as T
stanley tumblers hursday on a bill that would permanently extend the current top rate of 45 percent on estates larger than $3.5 million.Estates smaller than $3.5 million would continue to be exempt from the tax, and married couples, with a little estate planning, could exempt a total of $7 million from the tax. That leaves less than 1 percent of all estates subject to the tax this year.The Senate is considering similar legislation, though senators are busy trying to overhaul health care, meaning they will probably have to scramble to address the estate tax by the end of the year.House Majority Leader Steny Hoyer, D-Md., said it is important to set a permanent estate tax so rich families and small business owners can plan accordingly. He said exempting
stanley cup estates as large as $3.5 million from the tax will protect all but the wealthiest Americans. The quirk in the law, in which the estate tax would disappear for only a year, came out of a series of tax cuts enacted in 2001. Many Republicans, who controlled Cong
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We ;ve all received that email at least once before. A kind prince/princess/spambot in Nigeria has millions of dollars, and better yet, they want to split it with you. Just hand over your social security code and wait for them to arrive on American soil. As the above newspaper clipping shows, these types of scams were going on even before email came around鈥攊n this case, as early as 1876. You see, newspapers are what your forefathers used to read Tweets. This particular one, The Alamance Gleaner, came with a warning on Tuesday, March 7 about a recent scam meant in which wealthy New York grocers would snag money from unsuspecting country farmers. The entry reads: Here is one of the latest swindles. A Country grocer receives a letter stating that, from his name, he may possibly be a cousin of the writer, who, should such be the case, is willing to ma
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stanley taza e-third of the amount and forward the balance, the relative in the country to pay all expenses of the sale. In case the offer is accepted, there are a quantity of storage and cartage fees to be paid, it turns out, afterwards of course. The money is perhaps sent and then all the merchant has to do is to await the receipt of the goods. He must not get impatient if
