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Estate Tax

Politics
Push To Repeal Estate Tax Gaining Ground In Connecticut Push To Repeal Estate Tax Gaining Ground In Connecticut
Push To Repeal Estate Tax Gaining Ground In Connecticut Pressure is reportedly mounting on Connecticut lawmakers to possibly repeal the controversial estate tax. Connecticut is one of 12 states, plus the District of Columbia, that impose an estate tax that applies to estates that are worth more than $2.6 million in 2018, which rose to $3.6 million this year. There is also a $15 million estate tax cap, no matter its value. The exemption grows to $5.1 next year, $7.1 in 20221 and $9.1 million in 2022. According to multiple reports, there may be bipartisan support for legislation that would potentially repeal or alter the estate tax. Both Democrat…

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by Zak Failla
Politics
Trump Engaged In 'Dubious Tax Schemes,' 'Outright Fraud,' NY Times Investigation Finds Trump Engaged In 'Dubious Tax Schemes,' 'Outright Fraud,' NY Times Investigation Finds
Trump Engaged In 'Dubious Tax Schemes,' 'Outright Fraud,' NY Times Investigation Finds President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, according to this investigation by The New York Times. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help. Related story: New Forbes Rankings Of 400 Wealthiest Americans: Trump Takes Another Plunge However, the Times’s investigation, based on a trove of confidential tax retur…

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by Jon Craig