08-11-2016, 11:07 AM
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#10202
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Franchise Player
Join Date: Feb 2013
Location: Boca Raton, FL
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Quote:
Originally Posted by puffnstuff
Doesnt the 'death tax' start for an estate somewhere above 5 million dollars?
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I know it's only wikipedia but:
Quote:
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If an asset is left to a spouse or a federally recognized charity, the tax usually does not apply. In addition, up to a certain amount varying year by year can be given by an individual, before and/or upon their death, without incurring federal gift or estate taxes: [2] $5,340,000 for estates of persons dying in 2014,[3] $5,430,000 for estates of persons dying in 2015,[4] and $5,450,000 (effectively $10.90 million per married couple) for estates of persons dying in 2016.[5] Because of these exemptions, only the largest 0.2% of estates in the US will have to pay any estate tax.[6]
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https://en.wikipedia.org/wiki/Estate..._United_States
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"You know, that's kinda why I came here, to show that I don't suck that much" ~ Devin Cooley, Professional Goaltender
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