17 Burst results for "$11.7 Million"

"$11.7 million" Discussed on KLIF 570 AM

KLIF 570 AM

02:14 min | 2 weeks ago

"$11.7 million" Discussed on KLIF 570 AM

"You earned money, and you have money than it, Z kind of disturbing, But what of the top one of the top changes? That the Senate has come up with for discussion. These air yet is their proposed and like most lot of bills, they don't become law. But it is a proposed bill. Um the estate and gift tax bill will reduce your exam shin to 3.5 million and take away a bunch of different opportunities. The state exemption goes from 11.7 million down to 3.5. Correct, Okay, got it and a reduction of the gifting exemption to on Lee A million and 2022 so What that spurred. One was a document vault search for the client, right. Make sure that we've got the trust that we're currently operating under. There's a question on ownership of that trust. Who owns the trust. Does the trust on the trust. The end would say That's true. Has it already been gifted? Right? This is these are important questions as we go up up there and and Coordinating with the estate planning attorney and the C P A right? Sure the other is the step up in basis. What's the what's the proposal there at the probe the proposals to take away the step out? Cell division. So if I've had if I've had, for example, Texas Instruments stock for a long, long time. Man. Yeah, and and if you pass away, then the new bases is where the date date of death. And that's going to be controversial because It. Forces cap lot of capital gains tax. A lot of capital. People are going to sell it and buy a Ferrari with it right it after your dad after you died, okay? Now we don't recommend doing that, by the way no and another client. We didn't have a copy of the trust from the 19 nineties, so we just replaced the trust right? Right, And that's in process. And check the contingent beneficiaries. That's that's one of the missions and we've got a campaign to do just that. Okay. Dallas Text salaries spiking big time Austin, Texas, one of the top low tax cities in the nation. Texas Energy Gold Rush leads to the title, clean technology.

3.5 million 11.7 million Texas Instruments 3.5 Senate Ferrari Austin, Texas 2022 Dallas A million Energy nineties 19 Texas One one Lee
"$11.7 million" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

06:50 min | 3 weeks ago

"$11.7 million" Discussed on WBZ NewsRadio 1030

"Well, Sam, it seems like I start every show with some sort of story that says, Well, Here's what the Biden administration has in mind for taxes, all right, well this week they actually were talking once again, and I've heard this so many times he goes, yes, taxes. They're going to go up, but it's going to be on corporations and it'll be on the rich $400,000 or more. And then everybody breathes a sigh of relief. But the people over at Fox business say, don't breathe that big sigh of relief because just like Ronald Reagan used to say it trickles down when I cut taxes, he says, it's going to trickle down. If they raise taxes. Listen to this. I think it's really everybody and I think it's it's a colossal lie to say we're only taxing the rich. If we raise corporate taxes, we raise payroll taxes, We take away the benefit for small businesses on pass through entities. All of these are going to stall whatever economic growth we have on the horizon. So the fact of the matter there is when you say that you're just taxing the rich. You're actually taking away prosperity and you're taking away job creation, which has the impact of hurting basically every taxpayer, Sam. If you were in a room with a bunch of your clients and you say, Let's see a show of hands. How many of you think taxes they're going to go up? How many hands go up? Everybody, But e loved how he said, Colossal lie. Yeah, that's a pretty strong. You have to statement, isn't it? Yeah. You know, I would agree. I would agree. I looked at the proposal a little bit. And you know, one of things that they talk about is it's only gonna be in corporations and wealthy individuals. I look a little bit deeper, right? So raising corporate tax rates from 21% to 28%, so it's a pretty hefty hefty hike. How many people that are listening today? How many of my clients how many people you know that work for corporations Lot a lot, right. So if you have a corporation that's making less because they pay more taxes. Do you think maybe Will fall without maybe maybe they're going to get rid of them. Have a coffee maker that's free and charge. You put a vending machine and so you gonna pay 50 cents for the coffee? I mean, I mean, that's a crazy analogy, but at some point, I think they're going to try to make it up in some way shape before. Yeah, I would agree with that. We talked about Mitch Rochelle said something about hearing back. Tax preference for so called pass through entities, right? I think what he was referring to his companies such as that are sort of corporations, the limited liability companies or partnerships, which is Repeat, no land Wealth partners one. I'll see your business something This is right. I'll see. I'll see. So if they're gonna do away and make life hard for me as a company and have to pay more taxes. Well, that might have a negative overflow into my employees because I might raise this or cut that back or or, you know, cut this short cut that At the end date. I think it's going to have some effect, and that is something that we really need to grasp when we go forward. I mean, if you go into retirement, and you're in the 30% tax bracket, and you have to take money out of your four Oh one K. That's one thing, But if you go up to the 33% tax bracket, that's another thing entirely different sort them and then they also I don't know if they mislead by maybe, and not full disclosure, they said, raising income tax rates on individuals earning more than $400,000 was not just individuals if you married and finally jointly, it's the same thing. Right? Right. So you could have you could have a husband making I don't know $180,000 a year in salary, but maybe he's in sales, and that year he got a nice big bonuses in its 100 Grand, and now he's a 2 83 100. Maybe the wife is an executive assistant for some major corporation. Maybe there's some some aftermath. Negative, You know, down flow cutting costs, and then she's affected. But also maybe she makes 120 grand. So you had all those numbers. And boom. There you go. I'm told 400,000 bucks, So that's gonna not just affect rich and wealthy people. There are a lot of people we know clients that combined income of over $400,000. Those folks will be affected. Yeah, I wonder how many CPS they're going to be working overtime, trying to keep people below that $400,000 mark. I think there would be a lot of demand for that's a short e mean The other thing they're talking about is maybe expanding and going back to a little bit about State taxes. We haven't talked Lot about a state taxes on our radio shows and for a few years because even though in the state of Massachusetts, you have a massive state tax for anybody dying with more than a million bucks. The federal number used to be much lower today. It's Between husband and wife married couple. You could die with Have to $11.7 million and not pay a federal estate tax. That's a pretty big number. Yeah, Most people are not concerned about that. Well, imagine if they just went back a little bit, or, um, back to a million dollar number like they did 20 years ago. Well, if that's the case, pretty much everybody we're talking to would have not only if you live in Massachusetts, a massive state tax But a federal state tax I mean, back in the day when you know not even back in the day when I started to say, 30 years ago, but Closer to probably 15 years ago, the federal state taxes at a million dollars threshold and Commonwealth, Massachusetts was out of $600,000 threshold. Most I'd say 90% of people we deal with would have some form of the state tax so they could change that. And maybe they don't raise income taxes on you. But, you know, one of the things that you wanted to do was help out your Children and grandchildren and passing money to them. Is a very important thing on your on your desire to do well, that's going to be affected dramatically. Well, we've talked. I mean, just in the last couple of minutes here, Sam, the three biggies when you sit down to talk to a financial professional, that kind of overlap, and that is your investing your taxes and your estate planning. All of this has to be on under one umbrella. Everybody's got to be talking to each other and on the same page and move in the right direction, don't they? When we created rippin on land, we had that in mind, you know? Original partner, Richard Beano. Enhance Rabin on Lang. We say you know what? It would be great for people to be able to come and talk and discuss all of their financial worries, Concerns and Betty I get solutions to those all under the same roof. Right? So what are those, obviously is my money in the right place isn't doing as best as it can. Do I have an income plan? Am I going to be okay is my money going to run out? I mean, all those things that we're talking about on the show today, but also incorporate making sure that there's some tax strategies and they're also making sure that Tax strategies overflow to state planning, making sure you have the correct type of estate planning documents. Maybe it's not just a simple well, maybe you need to trust Maybe you need to trust to avoid.

Mitch Rochelle Ronald Reagan Richard Beano $180,000 $400,000 Sam 50 cents 33% 21% $11.7 million 90% 30% $600,000 400,000 bucks Massachusetts this week Fox 20 years ago over $400,000 28%
"$11.7 million" Discussed on 600 WREC

600 WREC

03:31 min | Last month

"$11.7 million" Discussed on 600 WREC

"Vin Trial today freeze warnings in effect across portions of the Midwest and South Watch for carbon levels coming to things like shampoo bottles. Heads up about April Fool stunts. Today there are 21 lawsuits now against Texans quarterback to Shawn Watson. Today is opening Day for baseball and the fake college, called the Southern Rhode Island Institute of the Arts will explain that in about 20 minutes. To pay for his massive infrastructure proposal. President Biden will target businesses married couples high earners and the state's Here's what it means for personal income taxes from Lou Pierrot. Tax planning attorney Lou How do you see it? He's had this in his platform when he was campaigning, but it seems like The size and girth of this infrastructure bill on top of the covert released bill. He's now actually going further and asking for more cuts. And of course, you have to put this on the canvas of the trump tax cuts. That went into effect a few years ago that expire in 2025, so we already have changes coming. This is going to accelerate them and actually amplify them. So you're gonna have worse cuts then we're gonna happen when that law sunset in 2025. Across the board income tax capital gains taxes, State gift tax. They really hit everyone. Our bar being cut is everything. Well, the the taxes are going to be rates increased and exemptions cut. So on the estate and gift tax side, we now have a very large estate and gift tax exemption of $11.7 million, so For people that have the ability to do that and have the wherewithal they can gift. 11.7 million on the state can have 11.7 million. He wants to cut that exemption from 11.7. The 3.5 for a states and one million for gift. So that's a huge cut. Really drafted. Cut. It puts a lot of people that you know you want a new apartment that's worth a million. You put your IRA your life insurance all those things together. Now you got a taxable estate in the rate on that. Is about 45%. All right. So that czar about folks with eight, you know, worth eight figures. Um, how many of them are there that would be affected? Well, if you think about how many people especially in New York City that have $345 million. That's bringing them right into the crosshairs of this new estate tax. Well, so should we be thinking about this as individuals? What else could come across our radar? So you have income tax on there a lot of different things. The current maximum rate is 37%. They're projecting that to go up to 39.6%. And that that's gonna happen in 2025. That may happen a lot sooner. So you also have capital gains tax. But on the income tax side, the asset that most people have right now is a retirement account. So you haven't Ira you have a 41 k those air ticking time bombs. They're waiting for the government to get their percentage of that account. But a lot of people are doing today in anticipation of increases and income tax. Is doing a Roth conversion. So I'm converting a portion of your retirement account now and putting it into a Roth IRA. It's a phenomenal vehicle that rough, irate grows tax exempt and you take it out Tax free. So if you can get into a Roth that the wind at the big win for the taxpayer gonna pay the taxes on that too right during the conversion..

Shawn Watson Lou Pierrot 2025 $345 million $11.7 million New York City Vin Trial Southern Rhode Island Institut one million 37% Today 21 lawsuits 41 k Lou 3.5 eight today April Fool 11.7 President Biden
"$11.7 million" Discussed on Biz Talk Radio

Biz Talk Radio

07:22 min | Last month

"$11.7 million" Discussed on Biz Talk Radio

"Hey, welcome. Good morning to all you guys on the West Coast, Guys, gals, whatever you're identifying as today, Um, we are trying to keep it real today. Real real informative on what's happening to you and your money and your portfolio. We had Jan Hernandez here we had Anthony Davis talking about the economy and what stocks could be affected endurable goods and consumer spending and all that other stuff, but The tax plan that Joe Biden is now causing $3 trillion attaching richer. Just terrible. If you ask me, it will be an immediate hole to everything Good that was happening in our society. But I'm not an attorney nor financial planet. No, no, I play one on TV, but we have a wonderful new, uh, contributor today can be Kapler joins us. She's a partner appear. Oh, Connor and Strauss. And this is a law firm focused on tax planning. State planning, Elder care other Um, Karen, this, uh The estate tax to step up basis alone. This stuff I'm seeing to me looks like it's focused on hurting the middle class. Well, I would agree with you with respect to the stepped up basis. Uh, provisions that the president is proposing right now, if you inherit assets. Those assets receive a step up in basis to their value on the date of death, which basically means that if if you if you inherit a house that your parents paid $20,000 for and it's now worth 200,000, and you sell it under current law, there is no capital gains tax because the basis is deemed to be the $200,000 value. That was that was that's what it was on the date of death. What the president is proposing is to eliminate that step up and I'm general consensus in the estate planning community is that, um, It's not Necessarily going to make it through. Um, mostly because you're right. It does specifically hurt the middle class, although the proposal is to a limit is to exempt the 1st $1 million worth of game. But how many of your listeners are whose parents were sitting in houses that the cake next to nothing for and now are worth well over a million dollars and they may inherit it. Andre. Those are the people who don't necessarily have the liquidity. To actually pay that capital gains tax. Which by the way, he's also talking about increasing the rate up to 39.6% from the current 20%. So his I live in New York, right? And as you do, right, and I'm 53. I got a lot of friends my age who are getting to that point in your life where you know their parents are deceased for them, moving on and They're doing, you know, living wills and stuff like that. And you know, there's people that bought homes in Staten Island, New York for like 150 grand, you know, 25 years ago, and now there were seven or 800 grands, right? And under the old plan someone inherited at seven or 800,000. By the time they sell it, Maybe it's worth 8 50 paid a basis on the 50. Right. Um why now, taking it back to the original to the original Genesis pricing. For me. It's feels the $600,000 exemption in the estate tax plan. So it's really backdoor taking away that 600,000 because usually eaten up by the equity in the House. Well, First of all, the exemption in New York is $5.93 million on the exemption on the federal level is $11.7 million. The proposals are to actually bring it back to the 2009 level. Which is $3.5 million in your right. That's going to affect a lot of people in the New York metro area, and by the way, when my point my parents bought a house in Staten Island was for $27,500. So yeah, that was that was way back in the sixties. But even when they just sell it, there was a substantial came The bottom line is that most people in the New York Metro area $3.5 million You're talking about their home and probably their retirement plan, so it will It will make the federal estate tax. Um, a It will make those families now subject to federal estate tax, whereas they don't under the current law. But with respect to the capital gains tax, I think the other reason why that provision With other reasons why those provisions will not go through is partially because one it's very difficult to trace. That's a provision that say Proposal that's been put before Congress to many, many times, and there's always fail to pass because nobody necessarily knows what the basis is in a stock that was purchased in the thirties or forties, and there's no way to actually trace it. But also because it's not good, it's going to mean that there's going to be a delay and collecting the revenue. Because you're basically waiting for somebody to sell property after death, and if that's not necessarily going to happen. Immediately after death That could happen 10 20 years later. Crazy What's happening? And, you know, Joe Biden swore up and down that if you make less than $400,000, you're not gonna get a tax cut, and then we find out as part of this package. There's a 9% payroll tax increase, which It's multi employer and the employee. So that's basically everyone in America who's a W two employees whether they make 100 Grand or 399 grand? They're getting a tax increase from their paycheck and employee has to do right. Yes, that's true, And it also means that unless the proposals are Change slightly. It means that a married couple each earning $200,000 a year is going to be subject to the higher tax rates as well because that's a combined income of $400,000 and again in the New York metro area, as in many metro areas across the country. That's uh, that's not so. Where to say the least. I just, You know, when I hear payroll tax I mean that to me is directly aimed at the large middle of, you know, Lower, middle class and middle class because Every working man and woman out there is going to see a decrease in their take home fact correct at the same time with the value of the dollar. And prices of durable goods and commodities and.

Jan Hernandez Anthony Davis Staten Island New York $600,000 $20,000 $200,000 2009 $11.7 million Joe Biden 9% $5.93 million $3.5 million seven $400,000 Karen 20% 600,000 America Congress
"$11.7 million" Discussed on Biz Talk Radio

Biz Talk Radio

10:03 min | Last month

"$11.7 million" Discussed on Biz Talk Radio

"She's a partner appear. Oh, Connor and Strauss. And this is a law firm focused on tax planning. State planning, Elder Care other Karen this, uh The estate tax to step up basis. All this stuff I'm seeing to me looks like it's focused on hurting the middle class. Well, I would agree with you with respect to the stepped up basis provisions that the president is proposing right now, if you inherit assets. Those assets receive a step up in basis to their value on the date of death, which basically means that if if you if you inherit a house that your parents paid $20,000 for and it's now worth 200,000, and you sell it under current law, there is no capital gains tax because the basis is deemed to be the $200,000 value. That was that was that's what it was on the date of death. What the president is proposing is to eliminate that step up and I'm general consensus in the estate planning community is that, um, It's not Necessarily going to make it through. Um, mostly because you're right. It does specifically hurt the middle class, although the proposal is to a limit is to exempt the 1st $1 million worth of game. But how many of your listeners are whose parents were sitting in houses that the cake next to nothing for and now are worth well over a million dollars and they may inherit it. On by those who are the people who don't necessarily have the liquidity. To actually pay that capital gains tax. Which by the way, he's also talking about increasing the rate up to 39.6% from the current 20%. So his I live in New York, right? And as you do, right, and I'm 53 had a lot of friends my age who are getting to that point in your life where you know their parents are deceased for them, moving on and They're doing, you know, living wills and stuff like that. And you know, there's people that bought homes in Staten Island, New York for like 150 grand, you know, 25 years ago, and now there were seven or 800 grands, right? And under the old plan someone inherited at seven or 800,000. By the time they sell it, Maybe it's worth 8 58. They paid a basis on the 50. Right. Um why now, taking it back to the original to the original Genesis pricing. For me. It's feels the $600,000 exemption in the estate tax plan. So it's really backdoor taking away that 600,000 because usually eaten up by the equity in the House. Well, First of all, the exemption in New York is $5.93 million on D exemption on the federal level is $11.7 million. The proposals are to actually bring it back to the 2009 level. Which is $3.5 million in your right. That's going to affect a lot of people in the New York metro area, and by the way when I put my parents bought a house in Staten Island was for $27,500. So yeah, that was that was way back in the sixties. But even when they did sell it, there was a substantial came The bottom line is that most people in the New York Metro area $3.5 million You're talking about their home and probably their retirement plan, so it will It will make the federal estate tax. Um, a It will make those families now subject to federal estate tax, whereas they don't under the current law, but with respect to the capital gains tax, I think the other reason why that provision With other reasons why those provisions will not go through is partially because one it's very difficult to trace. That's a provision that say Proposal that's been put before Congress to many, many times, and there's always fail to pass because nobody necessarily knows what the basis is in a stock that was purchased in the thirties or forties, and there's no way to actually trace it. But also because it's not good, it's going to mean that there's gonna be a delay and collecting the revenue. Because you're basically waiting for somebody to sell property after death, and that's not necessarily going to happen. Immediately after death. It could happen 10 20 years later. Crazy What's happening? And, you know, Joe Biden swore up and down that if you make less than $400,000, you're not gonna get a tax cut, and then we find out as part of this package. There's a 9% payroll tax increase, which It's multi employer and the employee. So that's basically everyone in America. Who's W two employees whether they make 100 Grand or 399 grand? They're getting a tax increase from their paycheck and employee has to do right. Yes, that's true, And it also means that unless the proposals are Change slightly. It means that a married couple each earning $200,000 a year is going to be subject to the higher tax rates as well because that's a combined income of $400,000 and again in the New York Metro area, as in many metro areas across the country, that Z That's not so. Where to say the least. I just, You know, when I hear payroll tax I mean that to me is directly aimed at the lark middle of, you know, Lower, middle class and middle class because Every working man and woman out there is going to see a decrease in their take home fact correct at the same time with the value of the dollar. And prices of durable goods and commodities and other things that are staples in life. We're going up so with less money is in our paycheck, and then what's left? We had to go buy stuff that costs more money because there's almost hyperinflation. You are absolutely correct on it will be. It will be really interesting to see what Congress actually decides to pass through, assuming that they are able to do this. Because, remember, um it doesn't look like there's going to be anybody crossing the aisle to vote on these plans. So everything's gonna have to go through reconciliation and it's questionable whether or not the Democrats are gonna have Another shot out it this year. Um, I'm hoping and I've been saying this for a while that I think Joe Manchin is actually the most powerful man in America right now. Um, and I'm really hoping that he sticks to what he said that he doesn't want to get rid of the filibuster. Because if that happens then then I'm gonna have to worry about resolution. They just come. Jim. Every single thing through and I feel like you know, we have very few protections left so we could be living in hyperinflation, hyper taxes before you even blink. Yes, that is also possible. But it's my understanding as of this morning that Chuck Schumer, the majority leader, is talking about not necessarily getting rid of the filibuster. But working through a in agreement with the Senate parliamentarian that there could be more than one reconciliation bill. Every year. Which would mean that these, um these proposals Could potentially be passed in 2021, along with the infrastructure bill after structure bills No one that scares me. I I don't think it's an infrastructure bill, much like the cold, but Bill the covert relief bill. Uh, you know, $1.9 trillion, with only like 10% of it actually going to cope with relief stuff. So these are all Trojan horse bills. We got about a minute left. What's one thing people need to take stock of the gamma ready to do some estate planning, um, that they could take a look at maybe even reach out to you about. They want to get a little more of ice on State planning is very important because it's the only way you're going to protect your family and your heirs and you need to see an expert who in the state planning and in order to do with properly. Going to your real estate lawyer is sort of like going to a cardiologists when you have a broken bone or going to Europe, the peters when you have a heart attack, they the same thing about law. If you're looking at your taxes or your state playing, you're about to have a heart attack. Full Carol Kapler because they do it right and you need some help. You've got to get an expert. Do you have an idea for a book fiction nonfiction for a Children's book. We can help you put it together and bring it to market and Dorrance publishing. We have thousands of testimonials from people just like you that we've helped get their books sold in stores and online. We've.

Joe Manchin Joe Biden Staten Island Chuck Schumer $20,000 Jim New York $600,000 $200,000 Carol Kapler 2021 9% $11.7 million $5.93 million America Karen 200,000 seven $400,000 Congress
"$11.7 million" Discussed on News Radio 920 AM

News Radio 920 AM

04:16 min | Last month

"$11.7 million" Discussed on News Radio 920 AM

"And Lily writes. My mother passed away in January without a will or anything formal with her intentions. I gulp right there. She was worth around 800,000 and I have one sister in a stepbrother. And she always said she wanted to leave everything equally to the three of us. How difficult will it be to settle her estate now? And where do we even start? Yeah, no. And again. I just goes back to you know what we talked about in the beginning of the program, right? Where Where, you know, even if you had no kids and never married, doing a plan? Yeah, makes sense right? It it helps. It helps prevent things like this. So let's analyze this because it's the step brother. That is the problem. Here. Not that the step brothers a problem, but the fact that it's a step son instead of a biological son. That makes the difference when you die without a will. So in this case with no will no formal intentions of where everything goes and I'm going to assume the assets were owned in her name and not jointly owned because again if they were jointly owned with another child. And those assets that are jointly owned go directly to the jointly owned to the surviving joint owner. So that that's an issue s. So what do we have here? So, you know, There's two biological and one step child. If she dies without a will. We're forced to look to the intestate succession statute again. This is what the state And you're each state is a little different folks. So you're gonna have to get some state advice on this. But here in mass, they're going to start looking for the next closest next of kin. Who might that be? Well, mother passed away. I assume Dad was already dead. First they looked to see if there was a spouse. Okay? None. Are there kids that's next on the list. Yeah. We would stop there because we we wouldn't have to go any further because the kids would be the next closest next of kin on the list. Well. Children by definition are biological. And we've talked about this when we do our planning, with trusts and step Children and second marriages, right, right or legally adopted, But step is different. So since that step was never legally adopted by the mother in this case Then this step child. Has no legal basis to be connected to this family. No standing up. So when you talk about next of kin, this is not a next of kin. This is somebody who really doesn't even have standing to challenge the will and say all I knew she wanted to leave. No. She didn't do it. I don't care what you knew. You are not. You don't have standing to even get a piece of this so really important, Especially in this case. She could have included him if she'd done her planning. Yeah. If she had done the will, Susan, you're absolutely right. Even if she did just a will and again, not saying everybody needs to do a trust, although it would Be helpful. Uh, even if you just did a will in the will. She could say I specifically include So on, So just this person or I treat this person as you could define them as your Children. You know, even though you haven't adopted him, you can define them in as Children. But if you don't define them To include them. And they are out. Yeah, and that's the issue. So what happens? All right, Well, let's just assume everything is going to go 400,000 to each kid Bond. That's what happened. Well, now it's there's no legal obligation. To give a third. To this stepbrother they could share if they wanted to. They want to see it sounds like they probably do, so let's advise them as to how they can do that. They are simply allowed to make a gift on. That's the end of the story. So you take 800 divided by three. Now, that will be a taxable gift. But you have an $11.7 million gift tax exemption so easy enough to do folks right to check Be done with it, folks. If you have a question you'd like to ask Todd visit our website. Legal leg. Shane show dot com and click on the Ass Todd Tab. Maybe we'll be able to read your question on the air, and hopefully, Todd's answer will stop you from becoming one of his next real life stories..

Lily Susan Todd $11.7 million January 800 400,000 one sister three First one step child second marriages one around 800,000 each state each kid Bond third two biological three of us
"$11.7 million" Discussed on WJR 760

WJR 760

02:00 min | 2 months ago

"$11.7 million" Discussed on WJR 760

"Socialism doesn't work. You know when you have a disincentive to work, because the government is reaching and taking too much of your money. You know well, then, that this tamps down productivity across the board and and ultimately we see with the end result of what that looks like You'd look at Venezuela and Cuba and anybody that's really moved in that direction. Capitalism is is a is the system that has worked successfully what's built this country. And so we gotta be careful where we go with with this. I call a punitive confiscatory taxation and that's the direction you know, we're moving in. And and in fact, I was going to mention this estate taxes. You know they're doing this well, tax That's an issue right now. You can you can shelter I believe it's up to 11.7 Million is an individual when you die times, too, for a couple of 23 million, but they're looking at reducing that dramatically. And also eliminating the step up in basis, which which is a big issue. Um you know, you pay a dollar for stock and it goes to $10 you inherit it. If you get a step up, then your basis is $10 and And now they're gonna look at eliminating that so one of the things might want to consider is using the gift tax exemption. It's a way to try for you hire network individuals seriously have Ah, talk with your financial advisor. You don't have when you're welcome to talk with us, but But you may want to utilize that as a well transfer vehicle before we lose these thieves. Higher exemption amounts. Well, it's all about having a plan in place. It's all about having an in game. So whether you're building a puzzle at home with the kids of the grandkids, or you're thinking about your financial puzzle, your retirement puzzle. It's all about having a big picture nine and the end goal in mind. So give Steve and Richard the team a call get on the counter for a complete planning review. No cost or obligation to 43 05 99 11 again 2483059911 you can call or text that number you can also stop by the website are w, paul.

Steve Richard $10 43 05 99 11 2483059911 Venezuela Cuba 23 million nine 11.7 Million one paul w,
"$11.7 million" Discussed on WMAL 630AM

WMAL 630AM

08:56 min | 2 months ago

"$11.7 million" Discussed on WMAL 630AM

"Collins back with you on Legally speaking and you know, I mentioned at the outset of the show that Made it a reference to the plants of the new administration for the death tax, the estate text federal state checks in this case and you know the really all the Democratic candidates, including now President Biden on their in their platforms had recommended. Reducing rather substantially reducing the federal estate tax exclusion. Now that hasn't occurred, and there's no proposal on the table right now, as far as I'm aware, and I don't think the risks which these things pretty closely, but the point is this traditionally estate planning In terms of tax planning have focused on potential issues that might face their clients under the transfer tax laws, both federal and local state transfer tax laws Transfer TEX fancy term for in this case, death taxes and Could be something that happens during your lifetime gift taxes those air Krantz for taxes. There's another separate tax, called the Generation Skipping. Transfer tax, and so is state planning. Documents drafted over the years often adopt techniques that are employed to eliminate or certainly reduce transfer tax death tax when the client dies now given the size of the current federal estate tax exemption, which this year is five points, 5.75 point $8 million 11.7 11 points. Yeah, Yeah, yeah. Yeah, but both end Yeah, $11.7 million and that's per individual, by the way, so that a married couple Can really rather quickly shelter double Adama $23 million in effect plus from the transfer attacks from the federal estate tax. And so now when there's a death Under the current tax regimes. We start looking not only a transfer tax issues and which of which there may be none but also on opportunities we may have for realizing some income tax. Benefits typically down the road in the form of the capital gains tax, and so when there's a death In the family involving somebody whose plan was adopted during a period when the plan was focused and on transfer tax on death tax. We may want to review the options that are available to the survivors to the family to the surviving spouse. To see if something might be done to. I'm not sure what the right word is tweak that plan massage. They had planned somewhat to see if we can't because we don't have any death tax issues to deal with. See if we can't achieve some income tax advantages for members of the family down the road now. Uh, James can speak more specifically about this kind of issue because he is Ah, we've said many times he does the State administration work in our families here in hair firms, so that when there is a death typically the client our estate planning client will meet with James or in some cases. Another attorney came in O'Connor in our firm who deal with the State administration issues. As they say nowadays, at least, is frequently as they deal with death tax issues. They're looking at income tax issues. Yeah, we, uh, we will often see a plan that was set up few years a few years ago. And you know, it is. My dad mentioned that the exemption this year on a federal level was $11.7 million. Uh, Maryland has a $5 million exemption D c. A $4 million exemption. Virginia has no estate tax since 2005 on so with these numbers so high Were rarely well as they rarely were often, you know, stay off it. Typically, Most folks are below that number. Those numbers, okay. And so but but but maybe 10 years ago. When the exemption was a lot lower, you know, And until very recently, the Maryland exemption was sitting at a million dollars or D, C and a million dollars. You know the federal exemption. You know, in in in the 2015 years ago, it was it was still creeping up, You know, between went from $1 million million five at two million, but again much lower numbers than the existing numbers on the table. And so if I see a plan that was drafted, you know, in the nineties when the exemption was 1,275,000 that person's estate might have been well over that exemption. But now that the exemptions air it, you know 45 $11 million. They probably below those numbers, and so We We change our thinking. From focusing on the estate tax, and you know the estate tax rates classically are higher than the highest ordinary income tax brackets. And so right now, the estate tax rate on a federal level is 40%, which is higher than the 37%. Highest marginal rate on the income tax side, you know, even going back to when the income tax was a 39.6%. Well, the highest rate or the rate for a state taxes last 30 years or so, but then between 30 37 55% again. Typically, the estate taxes start where the income taxes leave off. And so when we and then we look at capital gains, capital gains is typically sort of a halfway tax. You know, maybe you're paying 15 or 20%, or maybe 23.8% on a federal level. Maybe you're paying another 6% or so or even a percent of the state or to the district or whatever, but but those numbers are always smaller than the estate taxes and so Classically. We were always focused on the estate taxes because that was the bigger problem. And then if there was sort of any mental energy left over there is any room left over. Okay, Finalist try to minimize capital gains, too. But that was always a second consideration. Well, once the estate tax goes away once we're no longer threatened by those, you know, 37 to 55% rates Well, then we do. Look at the capital gains tax and say, Hey, now that we're not worry about the first problem Let's turn our attention to that second problem. So we sort of popped the collection, switch gears and start focusing on capital gains and again a lot of plans that were drafted. You know again a decade or two ago, may need to be looked at critically, to sort of restructure things in light of the higher estate tax exemptions that air in place now, all of this being said You know it is my dad pointed out. Biden's proposal is the same as I think it was Harris Chiller Brand Booker Club Shar. I don't think Mayor Pete or Liz Warren put out a estate tax proposal but the ones who are running for the Democratic side of the ticket. The proposal was the same proposal as it was last election cycle with Hillary and Bernie. Same proposal is Obama administration maintained all eight years, which is T drop the exemption or in Obama's case. Keep the exemption. $3.5 million with the excess taxed at if you're Biden 45%. If you're Harris 55%. I think, Hillary and was it 55. I think Bernie was a 65. Okay? Yeah, There's only academic I appreciate, but the point is that there is a of a movement to drop the exemption and raise the rates again. And whatever you think about this from a policy standpoint, I don't mean to get political. I don't mean to go left versus right in this whole discussion. The point is that we want to be alert. To some future Congress saying, Hey, we need more revenue. We used.

Hillary Liz Warren James 15 37 40% 39.6% Congress $11.7 million Bernie $3.5 million 23.8% $5 million $1 million million 6% 1,275,000 Biden $23 million two million $4 million
"$11.7 million" Discussed on KOA 850 AM

KOA 850 AM

01:32 min | 3 months ago

"$11.7 million" Discussed on KOA 850 AM

"Boston also received minor league right handed pitcher Josh Win Kowski and a player to be named later from the Mets. Mets received outfield prospect clearly from the Royals and in the NFL. The Denver Broncos have released quarterback A J Boy a one year after trading for him. Boy missed the last four games of 2020 due to a six game suspension for violations of the league's policy on performing enhancing substances. He will also be suspended for the first two games of the 2021 season. Move will free up $11.7 million against the Broncos salary cap, and the team will now have just under $31 million worth of salary cap space as they begin to work through their offseason plan. Mandy West with your I. Heart radio sports report Need more open The free I heart radio app for the best sports stations in the country and the most sports podcasts with the biggest personalities in the game on demand. Letter and he'd leak protection. Don't settle for the one size fits all solutions available in a store. You deserve better. Thousands of happy customers have switched to because, like Ruth from Florida, who writes I've been comparing because with another brand and you are so much better, you're fit is better You're absorbing See is better. What more can I say? Because has spent years developing their protective pads, underwear and guards. They're proven fit finder guarantees you'll get the right product and that it fits. That means no leaking, so used They dry because underwear looks and feels like real underwear. And because overnight underwear holds up to six cups of liquid that's more than anything.

Josh Win Kowski Ruth Broncos 2021 Mandy West 2020 six game six cups Florida Boston $11.7 million first two games Mets NFL Denver Broncos Royals Boy Thousands of happy customers under $31 million I heart radio
"$11.7 million" Discussed on KNST AM 790

KNST AM 790

01:55 min | 3 months ago

"$11.7 million" Discussed on KNST AM 790

"To the Royals for outfielder Franci Cordero and two players to be named later. Boston also received minor league right handed pitcher Josh Win Kowski and a player to be named later from the Mets. Mets received outfield prospect Khalili from the Royals and in the NFL. The Denver Broncos have released quarterback A J Boy a one year after trading for him. Boy a missed the last four games of 2020 due to a six game suspension for violations of the leaks policy on performing enhancing substances. He will also be suspended for the first two games of the 2021 season. Move will free up $11.7 million against the Broncos salary cap, and the team will now have just under $31 million worth of salary cap space as they begin to work through their offseason plan. Mandy West with your I. Heart radio sports report Need more open The free I heart radio app for the best sports stations in the country and the most sports podcasts with the biggest personalities in the game on demand. On now, Look back at this week in history on I Heart Radio This'll week in 1915 ASCAP. This founded the American Society of Composers, authors and publishers among the founding members of ASCAP, where the musical giants of the Time Irving Berlin, James Weldon Johnson, Jerome Kern and John Philip Sousa. In those days, songwriters made their living primarily from the fees earned through the sales of sheet music. This week in 1929, Sir Alexander Fleming discovers one of the greatest modern medicine developments by accident. Fleming was a young bacteriologist, having left the plate of staphylococcus bacteria uncovered. Fleming notice that a mold that had fallen on the culture had killed many of the bacteria he identified. The mold is penicillin. No, Todd, um, similar to the kind found on bread. On February, 14th 1929 Fleming introduced his mold byproduct called penicillin to cure bacterial infections. This week.

Franci Cordero Jerome Kern Josh Win Kowski John Philip Sousa James Weldon Johnson February, 14th 1929 Khalili Mandy West $11.7 million 2021 Broncos American Society of Composers Alexander Fleming 2020 six game Fleming two players Boston Royals NFL
"$11.7 million" Discussed on KTRH

KTRH

01:30 min | 3 months ago

"$11.7 million" Discussed on KTRH

"Furniture made in America Studios over $11 Million. I'm selling Adams on use Radio 7 40 Katie are eight with the weather. Here's Todd Boric. Chrissy Tempers on the rise of next couple of days for tonight. Sky's trend Mostly clear Low. Ron 41 degrees left sunshine for his Sunday decent day overall high low sixties with Seymour claws on Monday, But temperatures are actually warmer, low seventies that partly sunny mid seventies free Tuesday. I mean, Ross Todd work, Whether tell our top story, the Houston Astros and superstars shortstop Carlos Soria are avoiding arbitration. The two sides agreed to a one year deal worth $11.7 million, says Korea quote. I'm happy that we were able to come to an agreement and avoid arbitration. Arbitration is not a good process. Array is 26 years old, and he hit 2 64. With five home runs and 58 games Last season. Korea led Major league short stops with a 9 95 field percentage, making just one error you sin Police are still looking for a gang of home invaders in South Houston, who tied up two teenagers in their home. Yesterday, a neighbor caught the suspects on cell phone video call Crime stoppers. If you can help, Harris County deputies think a case of road rage may be responsive. Well for a nine year old girl riding in a vehicle with her family being shot in the head last night. This happened on Master's manner Lane near Katie. The Super Bowl is tomorrow, and I'm accused tonight. Khan has a lot.

Houston Astros Carlos Soria Korea Todd Boric Katie Ross Todd America Studios Chrissy South Houston Adams Harris County Sky Khan Ron Seymour Major league
"$11.7 million" Discussed on KTRH

KTRH

01:47 min | 3 months ago

"$11.7 million" Discussed on KTRH

"Hughes. The hall in that stretch remains closed due to road construction tie holding the ktrh cocoas windows dot com 24 hour traffic center time We hit Tuesday We'll see high tension with 10 degrees above average skies and mostly clear tonight Low low forties not but sunshine for his Sunday and decent Day. 10 3 solo sixties for highs and partly sunny, low seventies Monday, mid seventies. Partly sunny Tuesday with 3% of showers on Wednesday. I mean to us Todd War Well, jail, clearing up in 63 degrees of the John more services. Ktrh 24 hour Weather Center Ktrh news time is 6 31, our top story Houston Astros and superstars shortstop Carlos Korea or avoiding arbitration. The two sides agreed to a one year deal worth $11.7 million. Korea led Major league short stops with a 9 95 fielding percentage. He just made one air. Age pretty is still searching for home invaders and southeastern who tied up two teenagers in their home Yesterday. The Texas Department of Public Safety will have extra patrols on the roads on Super Bowl Sunday, looking for speeders, intoxicated drivers and people not wearing seatbelts. News on demand at ktrh dot com. Our next update will be after the basketball game. Tip off. It's seven. Breaking news is it happens. Sally Adams on Houston's News weather traffic station. Use radio 7 40 K T. R. H Have you heard about propane taxi, propane taxis, a propane grill, tank home delivery service, and it's ridiculously easy to order a propane grill tank delivered right to your door. Now's the perfect time of year to get outside and grill with family and close friends or heat up the patio. Make sure you've got propane for any occasion. Go to propane taxi dot com Use promo code tank 10 and your first take exchanges just $10 from a coat. Tank in for a $10 Take exchange. No delivery fees,.

Carlos Korea Houston Weather Center Ktrh Texas Department of Public Saf Astros basketball Major league Sally Adams Hughes. John T. R. H
"$11.7 million" Discussed on ESPN Chicago 1000 - WMVP

ESPN Chicago 1000 - WMVP

01:33 min | 3 months ago

"$11.7 million" Discussed on ESPN Chicago 1000 - WMVP

"The home of the White Sox W M v P. Chicago This is SportsCenter. I'm shot Rider. The Eagles are expected train quarterback Courson wins in the coming days. Reports he has beens Adam Schefter and Chris Mortensen. The Bears and Colts are among the teams that have expressed interest in wins. He was the second overall pick in the 2016 draft, then Roethlisberger expected me with the Steelers next week. Discuss his future and his contract reports he has been Jeremy Fowler, gym owner AREn't learning made it clear that the Steelers couldn't afford the quarterbacks $41 million cap it for next season. Shapes of activated backup center Daniel Kilgore off the Koven list will be available to the Super Bowl tomorrow night against the box baseball of five player trade between a L West squads. Principles being short step Elvis Andrews to Oakland slugger Chris Davis heading to Texas. The Astros have agreed on a one year $11.7 million deal. Bring back story. Shortstop Carlos Pereira. In college basketball closing seconds. Right down the A. C. C. 19 seconds to go number 14 Virginia leads pit 69 to 60 to a career first in the Big 10, a sumo pass on the corner. Grandison back to Ohio. I owe crossover Pull up Jumper. Got it Money soon, Ondo sooner with two more Calling Littlefield quarter for quiet room to find Murphy along that same path ranked Illinois with a 75 60 win over number.

Chris Mortensen Roethlisberger Steelers Courson White Sox Chris Davis Astros Carlos Pereira Daniel Kilgore Elvis Andrews Eagles basketball Adam Schefter Littlefield Bears Oakland Virginia Ohio Koven
"$11.7 million" Discussed on AP News

AP News

01:56 min | 3 years ago

"$11.7 million" Discussed on AP News

"Patrick is set to retire from the sport this weekend but she's already lined up for next gig she'll be hosting the sp's honoring the past years top athletes involvement some sports on july eighteenth she'll be the first woman to host the awards show but she's no stranger to it patrick i attended the sp's in two thousand five and espn says she holds the record for the most consecutive years attending by any athlete at thirteen she'll hang up a racing helmet after competing in her eighth indianapolis five hundred sunday keep an eye out for her she's sitting inside the third row for the race start wage growth has remained stagnant for most workers despite a strengthening job market but is the ben thomas reports those in the executive suite are faring significantly better she lives at the nation's biggest public companies got an eight point five percent raise last year that brings the median pay package for ceos to eleven point seven million dollars and matches the bump ceo's got in two thousand sixteen for the first time the government required companies to show on their annual proxy statements how much more bosses make than the typical employees an analysis of salary stock and other compensation done for the associated press by ecuador finds the typical ceo made one hundred and sixty four times the median pay of their employees i'm ben thomas the bus driver in last week's fatal school bus crash in new jersey has been charged ap correspondent warren levinson reports a criminal complaint accuses the school bus driver seventysevenyearold houdini of vehicular homicide an affidavit charges mulled wrote drove the bus taking fifth graders on a field trip across three lanes of interstate highway traffic in an apparent attempt to reach a turnaround marked official use only the bus was hit by a dump truck that collision severed the bus body from its undercarriage and injured everyone in both vehicles fifth grader and a teacher on the bus were killed i'm warren levinson welcome to total wine and more boy gets all of this beer out of the.

Patrick espn ceo ecuador new jersey warren levinson vehicular homicide ben thomas executive ap official seven million dollars five percent
"$11.7 million" Discussed on 850 WFTL

850 WFTL

01:32 min | 3 years ago

"$11.7 million" Discussed on 850 WFTL

"Hundred ninety four texas authorities say they've made an arrest in an investigation into explosive devices left at two locations in the city of beaumont is abc's mark renoir forty year old jonathan matthew torahs arrested thursday in facing federal charges after a thirty say he's responsible for leaving an explosive device at a starbucks in beaumont and for a separate device that detonated and damage to church us attorney joe brown of the eastern district of texas says based on what we found inside the suspect's home this suspect had the resources and the ability to continue building these devices and the incidents were increasing in their destructive impact torres his first court hearing will take place on tuesday mark remillard abc news it's a good time to be in the corner office abc's daria albinger takes a look at what some of the nation's ceo's are making well workers at a growing number of companies are being asked to do more for the same pay many of the nation's ceo's are making more than ever data research firm ecuador says the average race for a man or woman in the corner office was eight and a half percent last year with an average salary of eleven point seven million dollars that's one hundred sixty four times the median pay of his or her employees ahead of yum brands made more than thirteen hundred times with the average worker did highest paid ceo broadcom's hawks ten who made more than one hundred three million dollars daria albinger abc news this is abc news it's time time join the millions of people that.

beaumont abc jonathan matthew torahs starbucks joe brown texas daria albinger ceo ecuador broadcom hawks us attorney torres one hundred three million doll seven million dollars forty year
"$11.7 million" Discussed on AP News

AP News

01:40 min | 3 years ago

"$11.7 million" Discussed on AP News

"The misuse of their personal data by political consultancy cambridge analytica the company made the statement in a list of written replies to questions by european union law makers the answers were promised after testimony earlier this week by ceo mark zuckerberg at left e u lawmakers frustrated about a lack of responses cambridge analytical used the data of millions of facebook users to target ads during political campaigns including allegedly the us presidential vote you lawmakers said that would make facebook liable for compensation towards e uses facebook said the misuse of dates it was a breach of trust but noted that no bank accounts or credit card details had been shed and it said there was no evidence e you use it data had been involved facebook said on thursday that it's conducting a forensic audit of cambridge analytica wage growth has remained stagnant for most workers defendant strengthening job market but as the ap's bent thomas reports those in the executive suite are faring significantly better chief executives at the nation's biggest public companies got an eight point five percent raise last year that brings the median pay package for ceo's to eleven point seven million dollars and matches the bump ceo's got into twenty sixteen for the first time the government required companies to show in their annual proxy statements how much more bosses make than the typical employees an analysis of salary stock and other compensation done for the associated press by ecuador finds the typical ceo made one hundred sixty four times the median pay of their employees i'm ben thomas fiat chrysler is warning four point eight million drivers not.

ceo mark zuckerberg us facebook ceo ecuador ben thomas european union executive fiat chrysler seven million dollars five percent
"$11.7 million" Discussed on AP News

AP News

02:02 min | 3 years ago

"$11.7 million" Discussed on AP News

"Or shop online wage growth has remained stagnant for most workers despite a strengthening job market but is the ben thomas reports those in the executive suite and are faring significantly better she executives at the nation's biggest public companies got an eight point five percent raise last year that brings the median pay package for ceo's to eleven point seven million dollars and matches the bump ceos got in two thousand sixteen for the first time the government required companies to show in their annual proxy statements how much more bosses make than the typical employees an analysis of salary stock and other compensation done for the associated press by ecuador finds the typical ceo made one hundred and sixty four times the median pay of their employees i'm ben thomas this story may be a little unsettling for those who think they're smart speaker devices are listening to them ap's jackie quinn reports for one woman in oregon for amazon echo not only recorded her conversation passed it along a portland woman says she was notified by an acquaintance he received a voice recording of her discussing hardwood floors with her husband she has amazon's echo in every room of the house and apparently the device thought it heard her say alexa the command to wake it up and something in her conversation made the device thanks she said send message the background conversation provided a sound that matched a name and her contact list tech expert and law professor ryan kahlo i think it's the kind of thing that is inevitable when you introduce connected microphones into a home environment and you have a complex interface amazon we'll try to prevent it from happening again but professor kahlo says he's certain it will i'm jacky quin the deadly cyclone mukunu is churning in the arabian sea toward oman ap's john gambro salons says the area's prep for the storm's arrival this weekend the crew has already hit a yemeni island in the arabian sea and now it's on track to hit southern oman i'm right now in kuala which is one of the.

ceo ecuador oregon professor professor kahlo john gambro salons ben thomas executive jackie quinn amazon portland jacky quin oman seven million dollars five percent