Income | Gift | Estate| Transfer

Income Taxes
Income taxes (those taxes which are paid on earned
income,) will not be addressed here other than to say
that they are too high! What the IRS cannot get from you
while you are alive, it attempts to get when you are gone,
through inheritance taxes. Our interest here is with tax
issues related to estate planning.
Normally, there are two major tax issues that concern most
estate planners. The first is the gift tax and its exclusions.
This tax is paid when you give too much money away while you are
living. The second tax is the estate tax, also called death tax. This tax is paid when you give away too much money
at your death. These are two separate taxes that work independently
of each other to relieve you of your assets.