Strategies to Reduce or Eliminate a Death Tax
On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | December 15, 2022 | Estate Taxes
Estate tax, also mistakenly referred to as inheritance tax or death tax, is a tax on the assets of an individual that has died. Inheritance itself is not a taxable event, as the tax is paid by the estate of the deceased based upon the value of the decedent’s assets at time of death. In the United States, estate tax is levied by the federal government and a few state governments.
Gift Tax Exemption
On behalf of Law Offices of Frye & Vazquez, P.L. | December 8, 2021 | Estate Taxes
Do you have money or property that you don’t want to be taxed? Maybe taxes aren’t the issue, you just genuinely want to do something nice for a friend or family member. How about making a gift?
Advantages of an Early Inheritance With Gifting
On behalf of Law Offices of Frye & Vazquez, P.L. | October 5, 2021 | Estate Taxes
Before you decide if you want to give an early inheritance, it’s important to understand the benefits of doing so. Here are some of the advantages of granting an early inheritance with gifting:
What you need to know about Florida estate and inheritance taxes
On behalf of Law Offices of Frye & Vazquez, P.L. | Aug 21, 2018 | Estate Taxes
At the Law Offices of Frye & Vazquez, PL, in Florida, we know how hard you work throughout your life to accumulate wealth. We also know how hard you work to protect this family wealth so that you can pass it on to your heirs. The last thing you want is for your estate to have to pay a huge estate tax and your heirs to each have to pay an inheritance tax.
Estate tax implications for small businesses
On behalf of Law Offices of Frye & Vazquez, P.L. | Aug 8, 2017 | Estate Tax
Your entrepreneurial pursuits in Miami have hopefully yielded a significant windfall for you and your family, and provided people in the local community with jobs. Yet what happens to your business after you are gone? If you have earned significant personal assets, your estate could be subject to the federal estate tax. Many small business owners in your same position come to us here at The Law Offices of Frye and Vazquez, P.L. concerned that their having to pay the estate tax will force the sale of their companies. Should you be sharing this same concern?
Filing an estate tax return extension
On behalf of Law Offices of Frye & Vazquez, P.L. | Apr 3, 2017 | Estate Tax
As the executor for the estate of a family member or friend in Miami, the one area that may cause you the most trepidation is dealing with the having to pay estate taxes. Those who come to us here at The Law Offices of Frye and Vazquez, P.L. with their tax questions typically want to know two things: First, if their loved one’s estate is even required to pay taxes. If it is, then they typically want to know how long they have to pay them.
Are you considering some long overdue estate planning
On behalf of Law Offices of Frye & Vazquez, P.L. | Jan 9, 2016 | Estate Tax
Now that 2016 is finally here, many people are busy implementing and adjusting to their New Year’s resolutions. For instance, they may be in the early stages of quitting smoking, altering their eating habits or getting in shape.
