Estate Taxes & Gift Taxes. Legal news and articles for November 29 - 30, 2011

The Coming Flood Of Estate Tax ReturnsNational Review Backs the Payroll Tax CutTax Alert: 2nd Homes Overseas VulnerableGreenberg Traurig Hosts Annual Employee Benefits Conference in Palm Beach CountyToomey tells why the supercommittee went bustEC Opposes Dutch Rules On Inheritance And Gift DutiesCuomo Eyes Tax RatesGiving Thanks for a Meritocracy Instead of AristocracyRevenue Neutral 2012 Fixes to Social Security Tax and AMTBiscuit and gravy: Lawmakers dodge calls to unshroud millionsCommentary: New estate-tax battle may be brewing for coming yearBipartisan bill aims to amend estate tax code to conserve America's farms and ...Ernst & Young Tax Guide 2012 Now AvailableErnst & Young Tax Guide 2012 Now AvailableTax Moves to Make Today

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Winners Equal Losers in Perry Optional Flat Tax Plan, Group Says
BusinessWeekNovember 1, 2011

Perry also proposes to eliminate the estate tax and repeal the tax increases contained in the 2010 health-care law. The corporate tax rate would drop to 20 percent and business tax breaks would be eliminated. Perry also would adopt a territorial tax ...more »

You Can't Fix a Burst Bubble With More Hot Air: Caroline Baum
BusinessWeekNovember 3, 2011

Housing is still the most tax-advantaged asset, which contributes to its appeal. Mortgage interest and real-estate taxes are tax-deductible. In 1997, the tax laws on capital gains were relaxed. Instead of a one-time exclusion of $125000, ...more »

Estate Taxes & Gift Taxes. News and Stories

The Coming Flood Of Estate Tax Returns
ForbesNovember 30, 2011

Fewer than 3300 estates will owe federal estate tax this year, the smallest number in more than 75 years (other than 2010 when the tax disappeared for the year). But, paradoxically, even as Congress shrinks the number of taxable estates, the law also ...more »

National Review Backs the Payroll Tax Cut
Mother JonesNovember 30, 2011

(Republicans, as you'll recall, got the extension of the Bush tax cuts for the rich and a more generous deal on the estate tax; Democrats got the payroll tax cut, unemployment insurance, a college-tuition tax credit, and expanded business tax credits, ...more »

Tax Alert: 2nd Homes Overseas Vulnerable
Barron's (blog)November 30, 2011

All that changes February 1, 2012, but appears to be so confusing accountants and estate agents catering to foreigners that they are all interpeting the new law slightly differently. The capital gains rate for the first five years of ownership is the ...more »

Greenberg Traurig Hosts Annual Employee Benefits Conference in Palm Beach County
MarketWatch (press release)November 30, 2011

"Business owners and executives need guidance in planning for business succession in a tax efficient manner and securing their longevity in a competitive marketplace," said Kahn. "We host this conference annually to advise our clients about the latest ...more »

Toomey tells why the supercommittee went bust
Washington Post (blog)November 30, 2011

So let's insist as one of the features of this proposal that the capital gains, dividend rates, and estate tax rates that are currently in force become permanent. Secondly, let's insist that we have a revenue neutral corporate tax reform that would ...more »

EC Opposes Dutch Rules On Inheritance And Gift Duties
Tax-news.comNovember 30, 2011

Country estates which are opened to the public are fully exempted from tax. The rules, however, require that the country estate is located in the Netherlands, and there is no tax reduction for country estates located elsewhere in the European Economic ...more »

Cuomo Eyes Tax Rates
Wall Street JournalNovember 30, 2011

Any plan that raises tax rates would face political hurdles. "We support cutting taxes, not raising them," said Scott Reif, a spokesman for the Senate Republicans. And it could be hard a sell to the governor's network of businesses and real-estate...more »

Giving Thanks for a Meritocracy Instead of Aristocracy
Huffington Post (blog)November 29, 2011

For example, the law often requires tenant and community participation for the approval of a real estate development. The same mechanism should be applied to philanthropy. If the wealthy seek to create foundations and trusts, they should have to comply ...more »

Revenue Neutral 2012 Fixes to Social Security Tax and AMT
ForbesNovember 29, 2011

However, the actual reason may be that it was a political counter balance to the generous concessions President Obama made in December 2010 by agreeing to extend the Bush tax cuts and adding new estate/gift/GST benefits for two years. ...more »

Biscuit and gravy: Lawmakers dodge calls to unshroud millions
The HookNovember 29, 2011

Then there are brokers who sell the tax credits to wealthy Virginians to reduce their tax bills. In Charlottesville, it's former Kluge Estate moneyman Todd Hochrein who sold the first $11.7 million in tax credits. Hochrein declined to return a ...more »

Commentary: New estate-tax battle may be brewing for coming year
California Farm BureauNovember 29, 2011

Rising farmland values in other regions of the country may spur additional momentum for reformed estate tax rules that can enable farmers and ranchers to pass their operations to future generations, free from estate tax burdens. ...more »

Bipartisan bill aims to amend estate tax code to conserve America's farms and ...
The Colorado IndependentNovember 29, 2011

Mark Udall has proposed a change to the estate tax code to keep more farms and ranches intact. The American Family Farm and Ranchland Protection Act would help families stave off the pressure of selling, dividing or developing their farms and ranches ...more »

Ernst & Young Tax Guide 2012 Now Available
Sacramento BeeNovember 29, 2011

29, 2011 -- /PRNewswire/ -- The Ernst & Young Tax Guide 2012 is now available online and in book stores, a favorite among do-it-yourself filers and professional tax return preparers for 27 years. Packed with tax tips and information on tax law changes, ...more »

Ernst & Young Tax Guide 2012 Now Available
PR Newswire (press release)November 29, 2011

29, 2011 /PRNewswire/ -- The Ernst & Young Tax Guide 2012 is now available online and in book stores, a favorite among do-it-yourself filers and professional tax return preparers for 27 years. Packed with tax tips and information on tax law changes, ...more »

Tax Moves to Make Today
Smartmoney.comNovember 29, 2011

At that point, the estate tax is slated to snap back to its 2001 version, with a $1 million exemption per individual and a top rate of 55%. That is far worse for taxpayers than current law, which has a gift- and estate-tax exemption of $5 million per ...more »

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Campfield, Dickinson and Turnier's Taxation of Estates, Gifts and Trusts, 24th (American Casebook Series) (English and English Edition)Campfield, Dickinson and Turnier's Taxation of Estates, Gifts and Trusts, 24th (American Casebook Series) (English and English Edition)
by Regis Campfield, Martin Dickinson, William Turnier
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Joseph C JudgeAttorney at LawPRACTICE AREA: Tax Law, Business Law, Trusts & Estate Planning, Litigation, Industrial Development Law
Kenneth A HindmanAttorney at LawPRACTICE AREA: Real Estate Law, Criminal Defense, Litigation, Industrial Development Law