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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Jon Stept who wrote (15066)7/16/2000 5:02:15 PM
From: Karin  Read Replies (2) of 15132
 
No, you are no seeing this right.-

<Only the money generated from the money that has already been taxed gets taxed. So, for example, if you have made $ 1,000 and that $1,000 earns you $10,000 over a lifetime, than the $10,000 is taxed, not the $1,000 which was already taxed.>

The Death-Tax must be paid within 9 month after death,
and includes EVERYTHING above 650,000.- dollars.
The Government does not care where it came from.
So just look at your Estate and deduct the allowable amount,
and then pay 55% of anything over the 650,000.
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