{"id":294234,"date":"2010-02-08T17:41:16","date_gmt":"2010-02-08T22:41:16","guid":{"rendered":"http:\/\/davidkirkpatrick.wordpress.com\/?p=6666"},"modified":"2010-02-08T17:41:16","modified_gmt":"2010-02-08T22:41:16","slug":"no-estate-tax-this-year","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/294234","title":{"rendered":"No estate tax this year"},"content":{"rendered":"<p><\/p>\n<p>Well, so far at least. <a href=\"http:\/\/www.businessweek.com\/smallbiz\/content\/feb2010\/sb2010025_791431.htm\" >Congress let the estate tax lapse for 2010<\/a> meaning anyone lucky (unlucky? since you&#8217;re dead) enough to leave an estate this year will leave a larger estate since the Federal government isn&#8217;t taking its cut. Of course that might change in the future with some sort of retroactive tax. All in all it&#8217;s a confusing situation all around.<\/p>\n<p>From the link:<\/p>\n<blockquote>\n<p>More than a month into 2010, the Internal Revenue Service is not collecting estate tax on the money that wealthy people, including small business owners, leave to their heirs after they die. The\u00a0<a href=\"http:\/\/www.businessweek.com\/bwdaily\/dnflash\/content\/dec2009\/db20091221_242207.htm\">unusual situation<\/a> results because the U.S.Senate did not pass legislation late last year to remedy the scheduled expiration of the estate tax.The situation is confusing and unfair, and particularly hurts entrepreneurs doing\u00a0<a rel=\"topic\" href=\"http:\/\/bx.businessweek.com\/succession-planning\/\">succession planning<\/a>, says Jonathan M.Bergman, a certified financial planner and vice-president of\u00a0<a href=\"http:\/\/palisadeshudson.com\/\">Palisades Hudson Financial Group<\/a>, a fee-only financial planning firm in Scarsdale, N.Y. He spoke recently to Smart Answers columnist Karen E. Klein. Edited excerpts of their conversation follow.<\/p>\n<\/blockquote>\n<p>Also from the link, here&#8217;s the bottom-line impact of this Congressional blunder:<\/p>\n<blockquote>\n<p><strong>How much tax revenue is lost when there&#8217;s no estate tax?<\/strong><\/p>\n<p>Around 1% of total Internal Revenue Service collections come from estate taxes.<\/p>\n<\/blockquote>\n<p>  <a rel=\"nofollow\" href=\"http:\/\/feeds.wordpress.com\/1.0\/gocomments\/davidkirkpatrick.wordpress.com\/6666\/\"><img decoding=\"async\" alt=\"\" border=\"0\" src=\"http:\/\/feeds.wordpress.com\/1.0\/comments\/davidkirkpatrick.wordpress.com\/6666\/\" \/><\/a> <a rel=\"nofollow\" href=\"http:\/\/feeds.wordpress.com\/1.0\/godelicious\/davidkirkpatrick.wordpress.com\/6666\/\"><img decoding=\"async\" alt=\"\" border=\"0\" src=\"http:\/\/feeds.wordpress.com\/1.0\/delicious\/davidkirkpatrick.wordpress.com\/6666\/\" \/><\/a> <a rel=\"nofollow\" href=\"http:\/\/feeds.wordpress.com\/1.0\/gostumble\/davidkirkpatrick.wordpress.com\/6666\/\"><img decoding=\"async\" alt=\"\" border=\"0\" src=\"http:\/\/feeds.wordpress.com\/1.0\/stumble\/davidkirkpatrick.wordpress.com\/6666\/\" \/><\/a> <a rel=\"nofollow\" href=\"http:\/\/feeds.wordpress.com\/1.0\/godigg\/davidkirkpatrick.wordpress.com\/6666\/\"><img decoding=\"async\" alt=\"\" border=\"0\" src=\"http:\/\/feeds.wordpress.com\/1.0\/digg\/davidkirkpatrick.wordpress.com\/6666\/\" \/><\/a> <a rel=\"nofollow\" href=\"http:\/\/feeds.wordpress.com\/1.0\/goreddit\/davidkirkpatrick.wordpress.com\/6666\/\"><img decoding=\"async\" alt=\"\" border=\"0\" src=\"http:\/\/feeds.wordpress.com\/1.0\/reddit\/davidkirkpatrick.wordpress.com\/6666\/\" \/><\/a> <img decoding=\"async\" alt=\"\" border=\"0\" src=\"http:\/\/stats.wordpress.com\/b.gif?host=davidkirkpatrick.wordpress.com&#038;blog=2464417&#038;post=6666&#038;subd=davidkirkpatrick&#038;ref=&#038;feed=1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, so far at least. Congress let the estate tax lapse for 2010 meaning anyone lucky (unlucky? since you&#8217;re dead) enough to leave an estate this year will leave a larger estate since the Federal government isn&#8217;t taking its cut. Of course that might change in the future with some sort of retroactive tax. All [&hellip;]<\/p>\n","protected":false},"author":4050,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-294234","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/294234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4050"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=294234"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/294234\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=294234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=294234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=294234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}