Caution! The site can't guarantee, that text has age permission. The site is not recommended, if you are less than 18 years old.
The site shows example sentences for English words. How the word or phrase could be used in a sentence?
" ... Currently, there is a 40% estate tax for asset value above $11.58 million. The Biden plan proposes to increase the tax rate to 45% and, more importantly, reduces the exemption from $11.58 million to $3.5 million. Again I believe that this change will not be able to pass Congress. Even some influential democrats may vote against such changes that would significantly impair their descendants. If it were to pass, many Americans would need to reconsider and potentially restructure their living trust to protect it for their children. These changes seem to affect more people who have managed to accumulate a little bit of wealth to enable their retirement and leave a legacy for their children. I cannot imagine that a majority in the senate or even the house would vote in favor of this tax plan. ... "
" ... The exemption is an amount that you can transfer without incurring a gift, estate or generation skipping transfer (“GST”) tax cost. The current exemption for all three of these taxes is the same at $11.7 million in 2021. There are Democrat proposals to reduce the estate and GST tax exemption from $11.7 million to $3.5 million or $5 million (perhaps inflation adjusted or not). It is not clear what might occur, but a reduction seems likely according to many commentators. It might even be reduced lower. Will this be made retroactive? No one knows. While it certainly seems inherently unfair to make such a change retroactive (you made a gift thinking it was tax free then a retractive change might make it taxable) that might occur. Of all changes to the estate tax rules that might be retroactive this is suggested by some commentators to be one of the more likely. Such a change will profoundly change estate planning and subject millions of taxpayers now unaffected by estate tax, to the tax. The critical and urgent planning message of this possibility is that for those taxpayers that did not consummate estate tax transfer planning before the end of 2020, or who did not do as much as perhaps they should have, they should act immediately. There is no assurance that planning will succeed given the uncertainty about the effective date of any such changes. It would also seem that the longer you wait in 2021 to plan, the greater the risk that a change in the law may become effective before you complete your planning. ... "
" ... What about employees who do not meet an exemption but are simply not comfortable with receiving a COVID-19 vaccine? This will be the tougher issue facing employers, as companies may be reluctant to terminate employees for refusing a COVID-19 vaccine when a large portion of the population have been reported to be reluctant to receive a vaccine. Further there is the confirmation challenge. On this front, a vaccination card may be issued, vaccination data bases may be created and/or some apps may be created that would allow employers to verify an employee’s representation on this score. ... "
" ... What to watch: The TCJA doubled the lifetime gift and estate tax exemption from previous levels. However, this exemption is set to automatically sunset at the end of 2025 and return to $5 million per person (indexed for inflation). Congress would need to act prior to the end of 2025 to extend the larger exemption amount or make changes. While many households may not be affected by either threshold, a dramatic and abrupt shift in the exemption amount might warrant changes to estate planning strategies for wealthier households. ... "
" ... • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined. ... "