In addition to achieving your philanthropic goals, such gifts can offset income and estate tax liabilities
Business ownership interests fuel your personal net worth, so a change in ownership status can present new opportunities to reduce your income and estate tax liabilities
while increasing your charitable contributions.
For example, as Illinois has an exclusion amount of only $2,000,000 from Illinois estate-tax liability, Illinois clients with a taxable estate in excess of $2,000,000 may want to consider the purchase of life insurance to fund Illinois estate tax liabilities
Kyl has been working on fine-tuning the revenue raising provisions--one option would allow for the prepayment of estate tax liabilities
at a lower rate.
Provide significant opportunities to reduce real estate tax liabilities
This type of gift can reduce various estate tax liabilities
These provisions have included: special use valuation--the valuation of property at its actual, rather than its potential, use in a family enterprise; the qualified family-owned business deduction; and the deferral of Federal estate tax liabilities
Advice America advises on investments, insurance, and financial goal planning, while presenting income tax and estate tax liabilities
Financial difficulties caused by excessive estate tax liabilities
are a frequent cause of business failures.
Properly structured, this can be a particularly valuable estate planning tool, helping provide the cash needed to meet estate tax liabilities
, and thereby enabling more of an estate to pass to intended heirs.
7 million, while Germany and Canada had net estate tax liabilities
of almost $7.
To get the word out, Ina heads their Institute for Advanced Tax and Business Planning, which provides educational seminars for advisors and families on the strategies used for reducing estate tax liabilities
and funding estate taxes.