The Estate Tax in the 114th Congress
by: Jordan Silverman — ASSET WASHINGTON, D.C. – On March 25, the House Committee on Ways and Means conducted a markup session on eight bills, including the “Death Tax Repeal Act of 2015” (H.R. 1105) that was introduced by Rep. Kevin Brady (R-TX). The central focus on this markup session in particular was the estate [...]
Ground Hog Day: Repeating the Same Bad Policies
In the 1993 movie “Ground Hog Day” actor Bill Murray plays a weatherman doomed to keep repeating the same day over and over again: ground hog day. The President’s recommendation on the estate tax is like Ground Hog Day all over again. He wants to go back to 2009: 45% rate with a 3.5 million [...]
This Tax Change Could Keep Your Business Alive After Your Death
by: Diana Furchtgott-Roth — Manhattan Institute As 2014 draws to a close, many people are thinking of tax planning strategies. Some might donate to charity, others might choose to pay state taxes early. One novel idea that has just been proposed on Capitol Hill would allow people to decide when to pay estate taxes. True, [...]
ASSET Bill Introduced in Congress: Big Win for Private Sector Jobs
by: Jordan Silverman — ASSET Last Thursday, December 11, 2014, the ASSET bill (H.R. 5872) was introduced into the House by Rep. Andy Harris (R-MD). This news represents a significant victory for private businesses owners, ranchers and farmers, and the millions of Americans still struggling to find work. The ASSET bill signifies the beginning of a [...]
ASSET Continues to Push for Estate Tax Reform on the State Level
by: Jordan Silverman — ASSET Legislators in New Jersey are frantically moving to save jobs in their state by attempting to raise the threshold for the state estate tax, or simply by eliminating it all together. New Jersey is burdened with the lowest estate tax threshold of any state in the U.S. at $675,000 and [...]
‘Death’ Tax Forces Family to Sell 130 Year Old Farm
by: Jordan Silverman – ASSET The McBride family had owned a twelve acre farm in the rural area of Issaquah, located just twenty minutes outside of Seattle, WA, since 1883. That is, until they were forced to sell their family farm due to the impending, overwhelming estate tax burden they would have faced had the [...]
The Habit of Thinking…
by: Rob Smith- ASSET I am always impressed when I find a quote from one of our founding fathers that I haven’t heard before. President George Washington’s farewell address on September 19, 1796 is rich with lessons for today’s lawmakers and citizens collectively. As we prepare to celebrate our Independence Day, the following quote stays [...]
Rich People Get Hit with Estate Tax…Not Middle Class: Wrong Again
Anyone who is middle class and trying to make it economically doesn’t want to hear about tax issues, unless Congress is looking to reduce our tax burden so we can keep more money for our own families. As soon as you bring up words like “estate tax,” eyes glaze over and we lose interest because [...]
Come In..We’re Open: Estate Tax News on Capitol Hill
Washington DC – When I was a kid one of my early jobs was working at a TGI Friday’s restaurant. We had a sign on the door that said “Come In – We’re open.” My job was to serve the wait staff and the customers in the beginning, as a “food runner.” With the government [...]
Estate Tax Panel Briefing: Talkin’ Taxes before the Shut Down
Washington DC – ASSET hosted a discussion panel on the estate tax moderated by Tax Foundation president Scott Hodge on September 30th, the day before the Government shut down. Held in the Cannon House office building to make it convenient for tax counsel in many offices, the event lasted an hour with panelists Grover Norquist [...]