I’ll say it again, our Work is NOT Complete – The Estate Tax has NOT been repealed.
What we saw and heard in President Trump’s State of the Union, in reference to the Death Tax is the core of the challenge we face in solving this problem.
Members in Congress and the Senate are not giving this issue the attention it deserves. When family businesses are required to pay a 40% tax at the death of the owner jobs are eliminated and the community suffers. This is a problem plaguing our family business community.
“…we have virtually ended the estate tax, or death tax that is — as it is called, for small businesses, ranches and family farms.” – President Donald Trump’s State of the Union address on February 5th.
While there have been some slight improvements, we are by no means there. We have a long way to go before we can claim to have resolved the problem of double taxation on our family businesses. The Death Tax is still alive and 65% of the people who paid the estate tax in 2017 are still paying the estate tax today. These devastated families and businesses still need to be helped by their President, not left to foot an unnecessary second tax.
Let’s look at the reality; Family Businesses in the US employ 65% of the workers, 82 million jobs, and continue to be devastated and required to pay a 40% tax on their businesses at the death of the family members; this is wrong, unfair and double taxation.
Help us right this wrong, DEATH SHOULD NOT BE A TAXABLE EVENT!
Come with us and let’s end the Death Tax.
Click HERE to become part of the solution.
Pat Soldano
