Articles Posted in Death Taxes

Since 2021, many conversations have been had about the Build Back Better Act,  which saw several substantial tax increases. While some people have described the Act as dead, the future of the act remains uncertain. 

Despite what happens to the act, its contents are subjects to which Congress is likely to respond in regards to what is referred to as “death taxes”. 

A “death tax” is a type of “transfer tax” and is referred to as an estate tax. Most people are acquainted with income tax. If an individual receives a salary, the salary is taxed. If a person sells a property that has appreciated, the gain also receives what is referred to as a capital gains tax. Ordinary income tax, as well as capital gains tax, are two types of income tax.

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