Tag: Estate Tax

Bernie Sanders Calls for Confiscation of Wealth Above $999 Million

May 1, 2023
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Senator Bernie Sanders (I-Vt.) called for the U.S. government to confiscate assets over $999 million, and also announced his support for President Joe Biden. The senator spoke with CNN anchor Chris Wallace last week for an interview when he declared that billionaires should not exist. Sanders said he believes that the government should seize personal…

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Six Major Changes Made by IRS for 2023 Tax Season

March 10, 2023
BrightBusiness & Marketschild tax creditClean Energy Tax CreditsEarned Income Tax Credit (EITC)economyEstate TaxIRS - U.S. Internal Revenue ServiceMarginal Tax Ratespersonal financePolicies & Impactsstandard deductiontaxtax changesTax Deductiontax filingtax year 2022USWealth Management
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Tax year 2022 saw multiple changes made by the Internal Revenue Service to tax limits, credits, standard deductions, and so on. With the deadline for filing returns fast approaching, here is a list of some of these changes. Marginal Tax Rates The IRS slightly changed tax brackets for the 2022 tax year. The top tax…

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Estate Tax Exemption Amount Goes Up in 2023

November 20, 2022
BrightEstateEstate Taxgift taxinvestingpersonal financereal estatetaxtax exemptionWealth Management
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Every year, the IRS announces new limits on the estate tax exemption for the upcoming year. It is the amount of money people can give away without having to pay a federal estate tax. The number is primarily for rich people who have large amounts of money. The federal estate tax exemption has been raised…

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Biden’s New Death Tax Would Tax Millions Who Are Currently Exempt From Estate Taxes

September 8, 2021
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Commentary The Biden Budget Plan would subject millions of Americans to a new death tax. The Biden proposal is to implement a capital gains tax at death on previously untaxed appreciation of asset values during life. Taxpayers with net worth not remotely near the current $11.7 million estate tax exemption would be captured in the…

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