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inheritance tax
(redirected from Estate taxes)

    Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.02 sec.
inheritance tax
A state tax levied on the recipient of an estate rather than on the estate itself. The tax varies by state and its severity in a given state usually depends on the kinship between the deceased and the heir. Some states levy a tax on the estate instead of a tax on the amount inherited. Also called death tax. Compare estate tax.
How can I minimize inheritance tax?

Estate and gift tax law is in a state of flux. An estate planning attorney will have the most up-to-date information available to assist you in minimizing your tax liability. Avoiding probate should also be a goal. Joint ownership, revocable living trust, irrevocable trusts, and life insurance may be useful tools to avoid or eliminate the estate tax and costs of probate, but only an experienced estate planning attorney can help you decide which of these tools will suit your needs best.

Gloria Cole, Attorney, private practice, Weston, MA
inheritance tax

See estate tax.



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As a result, during the trust term the grantor can claim an income tax deduction for any real estate taxes he or she pays.
The ABCs of QPRTs: a properly structured trust can freeze the value ... by King, James P. / Journal of Accountancy
Because of the immediacy of the 421-a benefit, said Bhatia, the average buyer of a one-bedroom condominium at The Capri is paying only about $200 in real estate taxes a month--compared to monthly real estate taxes of between $600 and $700 at comparable condos that lack the 421-a exemption.
421-a right away at The Capri by Real Estate Weekly
On their 2001 joint return, they deducted their proportionate share ($10,489) of the housing corporation's real estate taxes from their adjusted gross income.
Cooperative unit owner denied AMT property tax deduction by O'Driscoll, David / The Tax Adviser
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