In the Headlines
January 30, 2015
Inheriting Grandma’s House Comes With Tax Bill Under Obama Plan
Accounting Today
President Obama is proposing changes to certain tax policy that would limit what individuals can leave to their heirs. The plan would impose a capital gains tax at death on the growth in the value of assets since they were purchase. The plan would also end what the White House has labeled the "trust fund loophole.:
"He's really creating a whole other set of taxes that will hit people who die with an estate," said Estate Planning attorney David Scott Sloan.
READ: Inheriting Grandma’s House Comes With Tax Bill Under Obama Plan