Tag: Federal Estate Tax

Inheritance tax: Exemptions for Farms and Small Businesses: Fourth and Last in a Series

Effective for decedents dying after July 9, 2013, there is a new inheritance tax exemption for qualified family-owned businesses. The law provides: “A transfer of a qualified family-owned business interest to one or more transferees is exempt from inheritance tax, if the qualified family-owned business interest . . . .continues to be owned by a… Read More

Marital Deduction Portability

Senate Finance Committee Chair Max Baucus (D-MT) introduced the Taxpayer Certainty and Relief Act of 2009 on March 26, 2009. The tax bill includes a $2.3 trillion middle class tax cut package and also creates a freeze on estate tax rates and major estate planning modifications.  Read Greg Herman-Giddens blog post about it here. In… Read More