estate and gift tax exemption

Trump Will Kill The Estate Tax – Why Does This Matter To You?

Donald Trump has promised to repeal the estate tax. Why does this matter? Well, it really may not matter…for that matter. For the few taxpayers who expect to pay the estate tax, they no longer will have to create tax-exempt organizations to eliminate large sources of tax revenue. For the remainder, it really won’t matter. What will matter is what type of tax rules and regulations replace it.

The Estate Tax Is Dead. What This Means For The Rest Of The Living

The original purpose for the enactment of the estate tax in 1916 was to be a temporary tax used to pay off the war bonds of WWI. One hundred years later and it’s still around. However, Donald Trump has pledged to repeal the estate tax, although presidential candidates promising to repeal the estate tax is standard campaign rhetoric in every election. However, this time around, with the incoming Trump Administration, it may be more than just talk.

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