The State of Estate Planning After the Election: Obama’s Proposed Estate Tax Plan
Posted on | November 6, 2008 |
The dust has begun to settle after the election - and both the legislative and executive branches are controlled by the Democratic Party. If Obama’s estate tax plan becomes law, the $3.5 million exemption of 2009 would be retained, but amounts in excess of that would be taxed at 45%. The top tax rates of prior years (for dual earners over $250,000 or one earner of over $200,000) would be reinstated 26% or more. Additionally, investors who make more than $250,000 per year would see an increase in the capital gains tax to up to 20%.
Tags: attorney > avoiding tax > capital gains > election > estate attorneys san diego > lawyer > tax law > tax plan
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