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To: KLP who wrote (372883)7/14/2010 2:45:07 PM
From: Alan Smithee  Read Replies (3) | Respond to of 793916
 
The timing of George Steinbrenner’s death may have ensured that the New York Yankees franchise stays in the family.
Because of a lapse in the federal estate tax, Steinbrenner’s family is saving about $500 million that they would have otherwise had to pay Uncle Sam. The 45 percent tax expired in January and starts up again in 2011 at 55 percent.

Not so fast there. There is talk about Congress reinstating the estate tax retroactive to January 1.



To: KLP who wrote (372883)7/14/2010 3:22:32 PM
From: Bridge Player  Read Replies (1) | Respond to of 793916
 
I would expect Congress to do something to retroactively change that estate exclusion prior to the end of the year. 50 billion is too big a hunk of change for them to pass up.


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