Estate Tax
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Families can be torn apart or money forfeited by refusing to take death into account financially or attempting to glide over it legally. Here's how to avoid such a dismal scenario.
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Families can be torn apart or money forfeited by refusing to take death into account financially or attempting to glide over it legally. Here's how to avoid such a dismal scenario.
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Disinheriting someone can be harsh, and may haunt a family member from beyond the grave, but there may be pragmatic reasons for doing so.
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In an example of federal and state tax law interaction that gets little notice on Capitol Hill, 30 states next year could collect $3 billion more in estate taxes if Congress and President Barack Obama do not act soon, estimated the Urban-Brookings Tax Policy Center, a Washington think tank.
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Dec 12- Warren Buffett's $1.2 billion share buyback from a single unnamed investor likely helped that person's estate save substantially on taxes, just one day after the Berkshire Hathaway CEO said the rich should actually be paying more, not less, when they die.
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Dec 12- Warren Buffett's conglomerate Berkshire Hathaway Inc bought back $1.2 billion in stock from the estate of an unnamed investor, the company said on Wednesday, one day after Buffett advocated for a higher estate tax when the wealthy die.
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Will going over the "fiscal cliff" trigger a huge hike in estate taxes? CNBC's Robert Frank breaks down the numbers. CNBC contributor Jared Bernstein and Dan Mitchell, Cato Institute, debate whether the estate tax should be abolished.
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Could a big chunk of America's millionaires vanish if we go over the cliff? CNBC's Robert Frank reports.
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WASHINGTON, Nov 30- Divisions among Democrats are undermining President Barack Obama's push to raise the U.S. estate tax on inherited wealth, just weeks before the arrival of the "fiscal cliff" could drive the present estate tax rate even higher than Obama proposes.
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WASHINGTON, Nov 30- Divisions among Democrats are undermining President Barack Obama's push to raise the U.S. estate tax on inherited wealth, just weeks before the arrival of the "fiscal cliff" could drive the present estate tax rate even higher than Obama proposes.
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Fearing an increase in capital gains and dividend taxes, many of the rich are unloading stocks, businesses and homes before the end of the year.
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The business community has no shortage of people willing to offer their diagnoses for what ails the country. Read ahead to see their prescriptions for America.