Are Skelaxin And Flexeril The Same Thing? ready for a tax hike?

The Same with Your Children in offsetting dollar amounts. And so on. Repeated use of the exclusion, and ea r after year, can take a large estate out of taxable Territory Without gift tax. Above Those limits, ou dog and Also make lifetime gifts up to $ 1 million Without estate / gift tax liability, or r $ 2 million if Given Jointly. Such gifts DURING your life reduces the size of your estate and taxes on it at death, But They reduce your estate tax Exemption. The cu r rent federal estate tax situation is Uncertain. For 2009, Each person CAN pass on up to $ 3.5 million free of estate tax, or $ 7 million per married couple. This estate tax is Scheduled to disappea r entirel and in 2010. But then only $1 million per person would be exempt in 2011. Strange, isn’t it?\n\nCu r rent expectations are that new federal legislation will freeze the estate-tax exemption at $3.5 million. It hasn’t happened y et, though.\n\nStill anothe r complicating factor is that most states with estate or inheritance taxes haven’t raised exemptions to match the federal limits. So man y estates that now escape the federal levy could get hit with a state tax. All told, 25 states and the District of Columbia currently impose estate or inheritance taxes.\n\nBest Asset T y pe\n \nAn impo r tant factor when making famil y gifts is which assets to use. Appreciated property inherited by a beAppreciated assets it s, such as common stock, Through your estate to Avoid capital gains. If and ou 'r and Young-in your 40s or 50s, say-give Appreciated assets to your relative, Appreciation future to get out of your estate. But the ecipients r 'Potential tax liabilit and is a key factor too. For 2010, Taxpayers in the 10-15 Percent federal tax brackets pay no tax on long-term capital gains. So r app eciated Often Are the best assets to use in Such cases. A married couple filing a joint tax return Can Have up to $ 65,000 in taxable Income and Still Be in the zero-percent bracket for long-term MOST input gains and dividend income. R Bewa and here of the "Kiddie Tax": A child's 2009 bridges