How could we reform the estate tax? Q.How could we reform the estate tax? A.Possible reforms run the gamut from repeal to modest fixes that would make the estate tax more difficult to avoid. Read more about How could we reform the estate tax?
Who pays the estate tax? Q.Who pays the estate tax? A.The top 10 percent of income earners pays more than 90 percent of the tax, with nearly 40 percent paid by the richest 0.1 percent. Few farms or family businesses pay the tax. Read more about Who pays the estate tax?
What is the difference between carryover basis and a step-up in basis? Q.What is the difference between carryover basis and a step-up in basis? A.The difference is whether heirs who sell an inherited asset will pay tax on the capital gains from the time the asset was originally purchased or from the time it was inherited. The difference in tax liability could be quite large. Read more about What is the difference between carryover basis and a step-up in basis?