Taxes on Big Estates and Gifts Slated to Soar
Posted on December 14, 2012 at 01:00 AM EST
DailyFinance.com : Currently gifts and estates of up to $5.12 million are exempt from taxes, but as part of the fiscal cliff, any portion of a bequest that exceeds $1 million will be taxed next year -- and at a 55% rate (currently, the rate is 35%). That will kick in ... Read more