Tax Tips for Tax Season: #14 Top Estate Tax Rate Set at 40%

 

today's tax tip

 

As a Bergen County CPA firm that provides Bergen County tax and accounting services we are happy to share helpful information this tax season. Check out our tax tip below:

The new law sets the estate exemption at $5,000,000 with a top tax rate of 40%. The exemption amount will be adjusted annually for inflation. The change is permanent. The American Taxpayer Relief Act also provides for “portability” of a spouse’s unused exemption amount. A married couple is allowed a total estate tax exemption of $10,000,000.

Our Bergen County CPA office offers you insight to this. We cater to Bergen County CPA tax preparation in New Jersey since we are a Bergen County accountant firm.  Please feel free to contact us if you need any further information about this  or any other tax or accounting matter, call  us at 201-947-8081 or 646-688-2807, or email us at info@bergencountycpa.com.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

*