Federal estate tax applies to the transfer of property at death. The estate of a person who died is liable for taxes on the estate.

The executor of the estate must file returns for the deceased person. This return is due nine (9) months after the date of death. (IRS can extend the time for any payments due up to 10 years)

IRS Tax Code Reads As Follows: "Most relatively simple estates (cash, publicly traded securities, small amounts of other, easily valued assets and no special deductions or elections or jointly held property) with a total value under $1,000,000 and a date of death in 2002 or 2003 and $1,500,000 and a date of death in 2004 or 2005 do not require the filing of an estate tax return"

The really good news is that Congress has approved a schedule that increases the amount an individual can leave to heirs tax-free to $2 million in 2006-2008 and to $3.5 million in 2009.

Small business owners who set 2007 goals and objectives for their businesses indicate that the cost of insurance (64 percent) and taxes (62 percent) top their list of concerns for the new year. These findings come from the Wells Fargo/Gallup Small Business Index, a survey of business owners nationwide conducted by The Gallup Organization and sponsored by Wells Fargo, America’s number one lender to small businesses. Rounding out the top five concerns for 2007 are energy prices (54 percent), government regulations (45 percent), and finding qualified employees (42 percent).

Taxpayers are allowed to claim deductions for their primary residence and one vacation or second home. In the case of the main residence, tax breaks are usually limited to mortgage interest and property tax deductions.

However, there are more deductions available when you own a second or vacation home. It just requires more effort to take advantage of them. You

Homebuilders like Ryland Group (RYL), KB Home (KBH), and Beazer Homes (BZH) acquire their fortunes from homeowners, especially retirees, wanting to buy second homes, many times in a different state. But when it comes to taxes, where you live is very important. People who live where there

The President’s Plan Will Help More Americans Afford Health Insurance By Reforming The Tax Code With A Standard Deduction For Health Insurance