Quote:
Originally posted by the Spartan
The death tax!?!? Oh, woe be it for the family farmer if Kerry is elected.
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Actually, it's an estate tax.
And it rarely applies.
And under Bush's tax act, it is repealed for exactly one year, 2010, which is why it's known among tax lawyers as the "Throw Mama From the Train in 2010 Act." It is revived in full in 2011.
Of course, a family farmer can elect to pay any estate tax that might be due under an installment plan. The only family businesses that actually get sold to pay estate tax are the ones that would get sold anyway because none of the kids want to be stuck running them.
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