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  • Response to the unsung inventor of Carbon Tax David G Wilson 12 Aug 2014 | 12:37 pm

    This linked with a death tax as proposed by Warren Buffet and Bill Gates Senior , and a Citizens Wage , would I believe set the world into a totally new direction , whilst retaining a competitive Capitalist and more Democratic society that is more ...

  • Same Sex Marriage, Taxes and Winning the Lottery - Huffington ... 12 Aug 2014 | 10:48 am

    Windsor was an estate tax case and where we will see the biggest economic change is when same sex couples go to file their income taxes. Looking strictly from an economic viewpoint, is it a good idea for a same sex couple to get married?

  • Media Watch: 15 Things Americans Would Know if There Were a ... 12 Aug 2014 | 10:16 am

    Take the repeal of the estate tax. In Ohio this was recently repealed by Republicans. The benefit is only realized by people with estates larger than $338,000 (as the first $338k was exempt) and realized most by people with even wealthier ...

  • How To Protect Your Real Estate Assets From Creditors 12 Aug 2014 | 8:26 am

    Doing so places the real estate beyond the reach of your creditors and may also reduce your estate tax liability. The disadvantage of this strategy, however, is that you'll lose all economic interest in and control over the real estate. Further ...

  • Why do I have to pay inheritance tax in Ireland on a cross border ... 12 Aug 2014 | 7:45 am

    Inheritance tax in many jurisdictions outside of Ireland is an Estate tax i.e. the Estate of the Deceased person pays the tax and often the beneficiary has little more to do than wait for their cheque to arrive in the post. In Ireland, however, it is the ...

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Derek's Tax Blog

Tax Attorney Derek JensenI strated this blog as a way to follow the developments in the Federal Estate Tax. However, from time to time I will post on Federal Income Tax issues, the Washington State Estate Tax, Estate Planning, Elder Law, and Business Planning. Please feel free to leave comments.
Written by Derek W. Jensen   
Thursday, 24 June 2010 10:31
Sen. Bernie Sanders (I-Vt.) introduced legislation today to restore the estate tax. It includes a shockingly high maximum rate of 65%. See article.

However, this bill may be more about making a political point than seriously offering a resolution to the estate tax drama. Consider:The bill was introduced 2 weeks after a New York Times article on how "A Texas pipeline tycoon who died two months ago may become the first American billionaire allowed to pass his fortune to his children and...

Written by Derek W. Jensen   
Tuesday, 25 May 2010 08:54
In the struggle over priorities, it appears that estate tax relief has hit another road block.

President Obama on Tuesday pressed congress to pass a small business relief bill. The President stated, "This legislation should ensure that credit-worthy small businesses owners can get the capital they need to expand and create jobs. It should include needed tax relief, like our proposal to completely eliminate capital gains taxes for those making key long-term investments in small...

Written by Derek W. Jensen   
Tuesday, 13 April 2010 08:16
YES! So get ready.

Taxes are hitting the news everywhere and not just because your tax return is due this week.Tax Freedom Day comes early: "Tax Freedom Day: Real Or Imagined?" Fox Business asks, "2009 Tax Season: Last Good Year for High-Earning Americans?"Paul Volker thinks taxes should be raised: "Volcker: Taxes likely to rise eventually to tame deficit"Bernanke thinks taxes may have to be raised: "Federal Reserve Chairman Ben Bernanke sounds a warning on growing deficit" and "US faces...

Written by Derek W. Jensen   
Tuesday, 02 March 2010 21:40
I got a phone call this afternoon from a produce of a local TV show asking if I could be a guest for a segment they were doing on tax increases. Needless to say, tax increases is a subject that I have some interest in. The show is called Red White and America. The hosts are John Renfrow and Michael Rotchadl. You can watch my episode tonight at 10 PM on their web site or locally on channel 22.

The producer learned about me from my efforts on this blog and other postings on my web site. It was...

Written by Derek W. Jensen   
Monday, 01 March 2010 08:53
At the end of 2009 there was talk that an estate tax fix would be attached to every major bill that moved through congress. In the end it never was. Today we have word from The Hill's Blog Briefing Room that the estate tax fix will not be part of the tax extender bill being debated this week. This follows on the heals of last month's failure to include it in the bi-partisian version of the jobs bill; which ultimately was not passed. The farther we get into the 2010 calendar, the less likely it...

Written by Derek W. Jensen   
Friday, 26 February 2010 17:04
OMB Watch reports that a coalition group has released a "Statement of Principles on Estate Tax Legislation". Apparently, OMB Watch is a member of this group, Americans for a Fair Estate Tax. It is unclear who other members of this coalition maybe. Nevertheless, the statement reads like a talking points memo on why the estate tax should be retain. It hits all pro-estate tax high points: cost of other proposals when we are facing a deficit; progressive nature of the estate tax; tax fairness...

Written by Derek W. Jensen   
Wednesday, 17 February 2010 09:01
If enacted Washington residents could be paying in excess of 75% in estate taxes. Currently Washington State has some of the highest state estate rates in the country. Today we have a $2 million exemption, with a 10% tax that climbs up to 19% at $9 million and above. However, HB 3184, which was proposed on February 13, 2010, would double the tax rates to a 20% estate tax for estates larger than $2 million, up to 38% for estates at or above the $9 million level.

Washington State, like many...

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