Estate Tax

Though it isn't set in stone, the Obama administration's budget resolution was approved on Wednesday.  Under current law the Estate Tax was going to be eliminated next year and then come back in 2010 with only a $1 million dollar exemption. Under Obama's plan the Estate Tax will stay at 45% with an exemption of $3.5 million, $7 million for couples. There may be some changes to AMT. Check it out here.

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