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Thursday
Feb182010

DEATH TAXES

There has been some misunderstanding regarding the Federal and State Inheritance tax situation lately. At the present time, there is no Federal Inheritance tax - no matter the amount of money a person leaves in his estate. If Congress doesn't act this year, the tax will be reinstated automatically. Everyone is speculating on what will be done. However, with health care and unemployment in the forefront, there are no definite answers at this time. We will continue to follow this topic and report any further information when the same is forthcoming.