Get an overview of the basic rules and concepts related to estate taxation, including an overview of the federal estate tax and the basic steps for calculating the federal estate tax.
When a person dies, his or her estate may owe taxes for the transfer of his or her property to any heirs and beneficiaries. Estate planning often involves minimizing the amount of estate tax that must be paid after a person’s death. Today, you’ll be learning the basic rules and concepts of estate taxation.
To start off our discussion today, we’ll introduce the federal estate tax. After that, we’ll cover the three basic steps to calculating federal estate tax: first, calculating the taxable...