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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 In Ohio this was recently repealed by Republicans.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   
Tuesday, 15 December 2009 14:16
Rep.Earl Pomeroy says that efforts to get an estate tax fix in this year have failed and that repeal is likely. This follows the Dec. 3rd vote by the house to extend the current estate tax exemptions and rates indefinitely. The Senate has failed to take up that measure, focusing instead on the continuing health care debate, which Senate leaders have vowed to complete this year. However, the Senate must pass a defense appropriations bill and an increase in the federal debt ceiling before they...

Written by Derek W. Jensen   
Thursday, 03 December 2009 11:31
I got a chuckle today well looking for news on the vote in the house to permanently extend the current estate tax exemption. Thank you to Hani Sarji and his Three Point Five - 45 blog. As you might guess from the title of his blog, he has an interest in estate tax law. However, I didn't know how deep this interest went until I read his post from Tuesday on the the EGTRRA experience where he professed his love for EGTRRA! He included the following illustration showing how Love and Tax Law...

Written by Derek W. Jensen   
Friday, 20 November 2009 17:08
Charles Rangel, D-N.Y., intends to introduce legislation in December directly to the floor of the house that would keep a variety of tax breaks from expiring before the end of the year instead of having it go through the House Ways and Means Committee which he Chairs.

There are about 73 tax provisions scheduled to expire by Dec. 31, including the credit for research and experimentation expenses, deductions for tuition and state and local taxes, film and TV production expensing rules, a...

Written by Derek W. Jensen   
Wednesday, 18 November 2009 13:45
There likely will be no permanent Estate Tax Bill this year. Instead, members of the House Ways and Means Committee hope to move legislation that extends current estate tax levels for one year. The Dow Jones Newswire article describes the problem this way:

But House Democrats are blanching at the $256 billion, 10-year cost of making the 2009 policy permanent. As millions of low-income and middle-income Americans are struggling to climb out of the recession, they don't want to cast a...

Written by Derek W. Jensen   
Tuesday, 17 November 2009 16:31
The House is likely to delay estate tax legislation until after the Thanksgiving recess. This will virtually ensure that the legislation we see this year will be a one year extension of the current law. This isn't significant news since the one year extension was looking more and more like the only thing that would be considered due to the backlog of legislation in the Senate. What is interesting is that there appears to be a split developing among the Democrats on how to proceed on the...

Written by Derek W. Jensen   
Saturday, 07 November 2009 09:17
"Warren Buffett, the collector" is the title of a recent Seattle Times Editorial. The position of the Seattle Times' publisher on the Estate Tax is well known. So, it should come as no surprise that an editorial would seek to critique one of the Estate Tax's most public proponents.

"We have a bone to pick with Buffett about the federal tax on estates. He defends the death tax in terms of meritocracy, though we think it's more because the tax's 45-percent top rate — increasing to 55 percent...

Written by Derek W. Jensen   
Friday, 06 November 2009 00:00
What are the tax implications for Washington's new Everything But Marriage Law? Plenty.

Washington's voter approved Referendum 71, the so called Everything But Marriage Law, creates some interesting Federal Estate and Gift Tax results. Under this law Registered Domestic Partners will get all of the state law protections and rights that a married couple have. This even extends to the right to community property and the right to leave your estate to your partner free from state estate tax...

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