Taxes Affect More People

Thanks to a surging stock market, spiraling real estate prices, and other happy number of people with estates worth more than $600,000 has more than doubled in the past 12 years. That’s the good news. The bad news don’t consider themselves rich, are now liable to stiff federal taxes. Estate and gift tax receipts have grown by more than 10% a people subject to estate taxes is expected to more than double in the next decade.

Now, more than ever, you may need tax planning to lessen this tax bite. Your lawyer trusts, using gifts to reduce taxes, and other techniques. Possible changes in the tax code may open new opportunities as well.