Update on Tax Negotiations

Most of you are aware that a deal seems to be in the works to extend the bush era INCOME tax cuts for a few years. There is no indication, however, that the ESTATE and GIFT taxes will be dragged along. This seems improbable, as the two sides are not that far off on this. Republicans favor 35% rate after $5 million, and the Dems favor a 45% rate after $3.5 million.

Not a whisper about the big issue for 2010: will they change it-we dont know.

Posted in Status of Tax Legislation, WillPlan Blog.

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