Business Week has published an article titled "Mind the Estate Tax Gap" by Amy Feldman. Some people assume that having no estate tax in 2010 is a good thing for the families of the ultra-rich who die in 2010. However, those people are overlooking the fact that the families of the ultra-rich will not be entitled to take a stepped-up basis in the inherited assets. In the article, Feldman points out that, while heirs of the ultra-rich will get a break on estate taxes, many will end up paying even more in taxes on capital gains.
Posted by Wesley J. Bailey, Associate Editor, Wealth Strategies Journal.
Posted by Wesley J. Bailey, Associate Editor, Wealth Strategies Journal.
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