0
What else can I help you with?
How can I figure out my estate tax rates?
Some states have their own estate or inheritance tax along with the federal estate tax. You will have to check with your tax professional to determine your tax liability. The best way to calculate your estate tax is to use an online calculator, such as one found at http://www.dinkytown.net/java/EstatePlan.html which lets you input all of the different tax variables and supplies you with your tax rate.
If one heir owes a small debt to an estate should the debt be paid before the estate is divided or should the debt be deducted from that beneficiary's share?
You should ask the attorney who is handling the estate. If it is a small estate there may not be any tax consequences either way.
What was nys state estate tax threshhold in 1989?
The threshold is at the 1 million level. It has remained that way since 1989 when mansion tax was added by governor Mario Cuomo.
What does estate tax software do?
Its a software for preparing taxes like any other. It has the needed forms and regulations and step by step help in case a person needs it to improve their tax preparation experience in a less time consuming way.
Is there tax on a pre-death estate dispersement to a child?
A "pre-death estate dispersement"?!?! That's just a fancy way of saying a "gift." It would be treated the same way as any other gift given to any undead person. The child would pay no tax, but the pre-deceased person (the gift giver) would be subject to the usual gifts taxes and possibly the generation-skipping transfer tax and the usual annual and lifetime gift tax exclusions would be available to the pre-deceased person. An "estate" does not come into existence until such time as a person has died. A pre-deceased person cannot make a dispersement from his/her estate because it does not yet exist, although they can direct that a dispersement be made from their estate once they have died by including their instructions in a "will" or equivalent legal instrument.
What are antonyms and synonyms for estate tax?
Those on the more conservative side (particularly those on the Republican side) sometimes refer to the estate tax (in a derogatory way) as a death tax implying that the government should not tax estates when a person dies and that the estate tax should be repealed. As a practical matter, the federal estate tax does not apply unless a person has an estate that is of very substantial value - Congress keeps increasing it over the years, but at this time I believe it is well over a million dollars. In other words, it could be said that if you are not a fairly wealthy person, the federal estate tax is nothing to worry about anyway because it does not apply.Synonyms:inheritance taxdeath taxdeath dutyAntonyms:collectively- taxes paid on income and property while living
Estate received 1099-C for deceased individual is this reportable on a fiduciary return?
Talking to a tax expert is the best way to determine this. They will be able to answer this and any other questions that you may have about your taxes.
Is there any way for me to avoid this situation, to let this cup pass from me"?
Yes, is there any way for me to avoid this situation, to let this cup pass from me?
Is there any way to avoid paying sales tax on a lower priced new vehicle when the old higher priced vehicle was surrendered during bankruptcy?
No. Bankruptcy has no impact on your duty to pay sales tax are purchases made after you file for bankruptcy.
How can I avoid a federal tax lien?
The best way to avoid a federal tax lien is to pay your federal taxes on time. However if you are unable to pay, contact the IRS and they will negotiate a payment plan with you for a small fee.
How do you save my parents money from estate tax after they die?
Federal estate tax doesn't kick in until the estate is worth $3.5 million. State taxes vary by state, of course.The key to avoiding estate taxes is careful planning before they die.One way to avoid estate taxes is by setting up irrevocable life insurance trust (this has to be done at least three years in advance).Another method is for parents to make gifts to children (each parent can give up to $13,000 a year to each child) in advance.A third method is to set up an elaborate scheme called a "Crummey Trust". This requires lawyers and accountants who specialize in this sort of thing.
If you live in new-jersey and buy a used car from a dealer in NY do you have to pay sales tax?
Yes, you still will have to pay sales tax on the vehicle in the state in which you bought it. There is no way to avoid sales tax.
