The Fiscal Cliff and the Estate Tax

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The fiscal cliff deal this week impacted tax rates in a range of areas, including in terms of the estate tax (aka the inheritance tax, aka the death tax). The short story: the estate tax rate will climb from 35% to 40%, with the exemption amount holding at $5 million (adjusted for inflation, which equals about $5,120,000).

In the coming days we'll be exploring this topic in more depth, explaining what was at stake in the negotiations and the implications for the agreement that was reached. So stay tuned.

via Forbes

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