Just days before Christmas last year, Congress gave wealthy families an early present by increasing the estate and gift tax exclusion amount to $5 million ($10 million per couple). In just over a year, the exclusion amount returns to $1 million ($2 million per couple with proper planning) and the maximum estate tax rate increases to 55%. To put this in perspective, while there will be no estate tax on a $10 million estate through December 31, 2012, the estate tax on the same estate on January 1, 2013 will be $4.59 million. What a difference a day makes!
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| Visionary: The Odyssey of Sir Arthur C. Clarke April 2, 2012 - Visionary offers the first full-life chronicle of the man whose fiction, including his groundbreaking collaboration with Stanley Kubrick on the film "2001," has received all of science fiction’s highest awards, and whose visionary contribution to science has earned him the nickname, "Godfather of the Communication Satellite." Read more at The British Interplanetary Society... |
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