Thursday, February 18, 2010

My Personal Thoughts on the Estate Tax

I have said for years that I thought we would actually have repeal in 2010.  I have also thought that the estate tax exemption will go back to $1 million in 2011.  Well we are more than 6 weeks into 2010, and we have repeal. 

If Congress were to change the estate tax laws in any way during calendar year 2010, then they would essentially be legislating a tax increase.  I understand that politicians do not particlularly like to vote for a tax increase, as it can impact re-election.  If Congress waits until January 2011 to change the estate tax laws, then they would legislating a tax cut!  Tax cuts are good for re-elections.

Anyways, I still think it will go back to $1 Million in 2011.

Take care, Patrick

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