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January 2013 Archives

Changes to Federal Estate Tax Exemption and Federal Estate Tax Rate

Without swift action by U.S. Congress, on January 1, 2013, the federal estate tax exemption would have reverted to $1 million with a 55% top rate. However, effective immediately every person may leave or give away up to $5.12 million without owing any estate tax. The tax on estates subject to the tax the gift/estate rate is now 40%.

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Suzanne P. Nicholl
6165 Greenwich Dr.
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San Diego, CA 92122
Phone: 619-894-8552
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