The trend in Wagner cards

Yoda · #1 09-12-2023, 11:31 AM

With the IRS estate threshold (I forget what it is these days, $4M?) you would have to have a really valuable collection or be asset rich in other areas to be faced with a large inheritance tax. Or have I got the wrong end of the stick here?

raulus · #2 09-12-2023, 11:47 AM

Quote:

Originally Posted by Yoda

With the IRS estate threshold (I forget what it is these days, $4M?) you would have to have a really valuable collection or be asset rich in other areas to be faced with a large inheritance tax. Or have I got the wrong end of the stick here?

For 2023, the threshold is $12.92M.

https://www.irs.gov/businesses/small...yed/estate-tax

Peter_Spaeth · #3 09-12-2023, 12:00 PM

Quote:

Originally Posted by raulus

For 2023, the threshold is $12.92M.

https://www.irs.gov/businesses/small...yed/estate-tax

States are typically much lower though. In Taxachusetts, for example, it's 1 million.

Exhibitman · #4 09-12-2023, 01:46 PM

CA has no estate tax. 0%

raulus · #5 09-12-2023, 02:07 PM

Quote:

Originally Posted by Exhibitman

CA has no estate tax. 0%

I promise this isn't political, but...

I have a hard time believing it will stay that way forever. Of course, it's been that way for a while now, so maybe you'll get lucky.

Exhibitman · #6 09-12-2023, 02:15 PM

Quote:

Originally Posted by raulus

I promise this isn't political, but...

I have a hard time believing it will stay that way forever. Of course, it's been that way for a while now, so maybe you'll get lucky.

I don't think it is going back. We have too many large ranches, orchards, vineyards and farms. At worst, we might go back into lock step with the Federal standard, which is pretty much what we do with similar taxes that have high thresholds.

Peter_Spaeth · #7 09-12-2023, 02:36 PM

What do ranches and orchards have to do with it, don't follow?

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