New tax policy
How can we protect ourselves for what is about to happen regarding taxes, inheritance in particular.
Terry Says
You may not be able to do much to “protect’ yourself against any new taxes — especially if, as is typical, the policy is retroactive to January 1 of this year!
Some thing to watch out for regarding estate taxes is the discussion of lowering the estate tax minimum from the current $11.2 million level down tyo $5 million. And there is the possibility of eliminating the “step-up” value of assets to their value as of the date of death.
But we will have to wait to see if any tax bill gets through Congress — and when it becomes effective.