Aug
09

Trivial Taxes

will and testamentIn 2014, the inheritance tax affected 5,200 estates, roughly 0.2% of those who died. And, the inheritance tax generated $19.3 billion or 0.6% of all federal revenue, down from 1% in 1990 due to increases in the size of the exemption, which is now $5,430,000. That aside, the average inheritance tax bill is $3.7 million, meaning an inheritance of $11 million! I would be happy to pay the taxes due.

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Comments

  1. Leon Salter says:

    Although it doesn’t affect me, it would appear most of this money has already been taxed.

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