Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Taxboy who wrote (853)	3/30/1998 11:04:00 PM
From: Colin Cody	Read Replies (2) of 5810

Taxboy, Clearly estate taxes are NOT pointless. They were DESIGNED to and IN PRACTICE THEY DO, redistribute wealth from the wealthy to the gov't, who in turn distributes it to the poor. . The Estate tax is a voluntary ADMISSION, but to imply that everyone with a few thousand bucks or so to pay an excellent planner will have eliminated all death taxes, while all others are shmendriks is an outrageous statement to make. . It is NOT even DESIRABLE to avoid ALL ESTATE TAXES. Every day people with estates valued from $1m to $100m die and leave their estates to pay some estate taxes. This isn't from lack of planning, but by design. . Good planning does not mean all taxes must be eliminated. There is a law of diminishing returns that I use when doing tax planning with clients. ALL their needs and the needs of their families are BALANCED with the work of minimizing taxes which includes CURRENT income taxes as well as FUTURE Estate taxes: both Federal and State and Overseas. . Colin

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