Death and Taxes – Advanced

Death taxes are assessed by the government on your estate. Without proper planning, your heirs may lose up to  70% of your assets.  When you pass away, your estate needs to file a terminal return (final tax return). This will tax your income and the gains on your investments. Below is an overview to help you understand how tax works when you pass away and what you can do about reducing the potentially massive tax bill. 1. Income At the time of … Continue reading Death and Taxes – Advanced