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Advisor

Re: Estate Taxes..Uff Da

Spoiler
 

it will depend on whether Dems lose seats in the senate and republicans keep theirs in the house.  Don't get your hopes up yet.  Also, there are tricky proceedures a minority party can use to block stuff and make a mess of things.

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Senior Advisor

Re: Estate Taxes..Uff Da

It's as simple as the haves thinking they deserve favorable tax rates over the have nots. As if working folks haven't been struggling to improve their lot in life. They get a few bucks more and government taxes it. You gain $5 million in capital gains and you think that should be without tax consequence.

 

Which confirms that you folks aren't really interested in a "fair tax". Your interested in no taxes.

 

There is indeed class warfare and the haves have been attacking the have nots and winning. Too bad working forlks don't have millions to toss at candidates.

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Senior Advisor

Re: Estate Taxes..Uff Da

More BS. Your estate taxes aren't going to wealth distribution. They are going to pay for the military and the interest on the debt. Most social spending is paid for out of FICA taxes and your estate does not pay fica taxes and neither does your capital gains taxes.

 

So complain about your fica taxes if you must but it isn't Estate taxes and capital gains taxes going to wealth distribution.

 

It helps if you know what the hell you are talking about.

 

 

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Senior Advisor

Re: Estate Taxes..Uff Da

Is interest deductable on a RV? Maybe i ought to buy one for family use. I do think most RV owners suffer a capital loss when they sell.

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Senior Advisor

Re: Estate Taxes..Uff Da

Maybe we shouldn't have to pay taxes on  $7 corn or $80 pork or $1.20 fat cattle cause I worked my whole life to get to this mark---

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Honored Advisor

Re: Estate Taxes..Uff Da

Ask your CPA to be sure.  We attended an RV show about five years ago, which was when I learned that these toys are considered second homes.  Things may have changed by now.... 

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Veteran Advisor

Re: Estate Taxes..Uff Da


@BA Deere wrote:

Prepare for the worst according to Iowa Farmer Todayhttp://www.iowafarmertoday.com/feature/columnists/farm_transition/prepare-for-worst/article_2715bd6e...   If you croak in 2013 with a $10 million estate  Poof! half of it will go to Uncle Sam.   I know this isn`t the Forum page so I promise that I`ll play nice.


I read that same article, too.  Darn scary for a LOT of farm families.

 

We have been gifting down the maximum allowable for the past twenty years between my brother and myself.  I just hope that it is enough.  Our farm is on the edge of a fast growing town.  I wonder how many old folks will commit suicide at the end of this year to avoid seeing their farmland grabbed by the Central Government.

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Veteran Contributor

Re: Estate Taxes..Uff Da

At the Nebraska Power Farming Show I heard Larry Oxenham from the American Society for Asset Protection talking about ways to legally avoid the death tax.  Has anyone else heard of this group or their way of protecting your family from loosing the things that you've spent a lifetime accumulating??

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Veteran Advisor

Re: Estate Taxes..Uff Da


@toughguy189 wrote:

At the Nebraska Power Farming Show I heard Larry Oxenham from the American Society for Asset Protection talking about ways to legally avoid the death tax.  Has anyone else heard of this group or their way of protecting your family from loosing the things that you've spent a lifetime accumulating??


I have not heard of them, but I would check them out very carefully before working with anyone on estate issues.

 

We have been making an estate lawyer firm fairly wealthy in working up our plan.  I am thinking that since Iowa has such liberal rules on marriage, that parents should be allowed to marry their children in order to pass the farm down by survivorship.   Someone should try it and dare the court to rule otherwise.

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Honored Advisor

3 words for ya Craig

Weekend-at-Brenies!  http://www.youtube.com/watch?v=YCTgcZ6ImsQ  I told the kids to fill my boots up with sand and don`t let the government know when I`m dead.  If social security is still around I could maybe still collect it when I`m "140".  Shoot, I might have more fun when I`m dead Smiley Happy   Seriously, they could bury me and just say I`m doing Lutheran missionary work in Guatemala.  The easiest way out of this mess is vote a straight Republican ticket in November, that will solve most of our problems.

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