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 [1].
Advice America advises on investments, insurance, and financial goal planning, while presenting income tax and
estate tax liabilities estimations.
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.
