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Written by Derek W. Jensen   
Monday, 19 October 2009 09:23
It is getting down to crunch time. In about 10 weeks the Federal Estate Tax is scheduled to be eliminated . . . . for one year!

Unfortunately, this planning nightmare is no closer to being resolved then it has since the bill that created it was passed and signed into law in June of 2001.

As an observer of politics, I recognize that the Estate Tax is a political football that both sides are using to score points and earn significant campaign contributions. Although there hasn't been any...

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Written by Derek W. Jensen   
Thursday, 11 June 2009 02:37
Last year I set up an alert to give me notice of new articles that are posted relating the coming changes in the estate tax law. Typical I get a few articles a week. Most of them are repeats of the same old line.

However, this week has been different. I am getting enough of these alerts that they are jamming up my inbox! At last count there have been 161 news articles over the last week. You can check them all out here. There are an additional 125 blog entries over the last week. Taken...

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Written by Derek W. Jensen   
Monday, 08 June 2009 13:46
President Obama is schedule to announce new tax increases today that will raise $60 Billion over the next 10 years. Although details are limited at this time, the Reuters article and the Wall Street Journal article make it clear that Obama is taping the estate tax as a way to pay for his health care initiative. The estate tax hike is described in the articles as closing “loop holes”. It appears the “loop hole” in question is valuation discounts. The fact that valuation discounts may...

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Written by Derek W. Jensen   
Monday, 08 June 2009 13:45
It has been reported that last night the House and Senate reached a deal for the 2010 budget resolution that includes an extension of the 2009 estate tax exemption. This is a tax increase for 2010 since the estate tax was set to be repealed next year; however, it is scored as a tax cut in the resolution since it will increase the exemption in years 2011 through 2014. So unless you are unlucky enough to die next year, this is a good thing.

However, don’t start celebrating just yet. In an...

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Written by Derek W. Jensen   
Monday, 08 June 2009 13:45
Over the weekend I was able to obtain a copy of the bill introduced by Seattle congressman Jim McDermott, H.R. 2023. Here is my quick analysis of the bill: Exemption: The estate tax exemption is set to $2.0 million. Although this would be considered a tax cut for year 2011 and beyond, when compared to this years exemption of $3.5 million this will be viewed as a tax increase. Taxpayer unfriendly. Indexed: The bill includes a provision to automatically increase the exemption in...

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