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Sacrificing Land To Pay The Death Tax

by Policy and Taxation Group Admin | Sep 13, 2017 | Blog, Death Tax, Tennessee

Just outside Nashville, Brandon Whitt operates Batey Farms with his wife, Katherine, and father-in-law, who owns the property. Established in 1807 from a Revolutionary War land grant for military service, this seventh-generation family business provides over 65,000...

Sacrificing Land To Pay The Death Tax

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Death Tax & Estate Tax News

While the devil is in the details, it is possible that if President Biden’s elimination of step-up in basis proposal is passed by Congress you could be paying an estate tax at 40%, and a capital gains tax at 43.4%.

Pay close attention to what is being discussed and let your members of Congress know you do not support elimination of step up in basis.

There are efforts in DC to make the estate tax (death tax) worse; higher than a 40% tax on your business and all your assets! But there is hope; a bill to reduce the rate of tax from 40% to 20% has been introduced in the House HR 3178 and in the Senate S1627.

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