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  Scott H. Linden, Esq.
Attorney and Counselor at Law
Phone: (818) 968-6165
Fax:  (818) 479-9769

 

  

SPECIAL INFORMATIONAL BULLETINS:


Scott H. Linden, Esq. 1510 Cotner Ave. Los Angeles, CA 90025 Phone: (310) 445-2953

Federal Tax Changes (2004 - 2011+)

This simplified chart shows the key changes as a result of the 2001 Tax Act. It is very likely that Congress will act before 2010 to freeze things at or near the 2009 level (as opposed to letting the estate tax expire in 2010 and then return at the 2001 level for 2011 and future years).

2004

Applicable Exclusion Amount - $1.5 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 48%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 48%
GST Exemption Amount Allowable - $1.5 Million
GST Transfer Tax Rate – 48%

2005

Applicable Exclusion Amount - $1.5 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 47%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 47%
GST Exemption Amount Allowable - $1.5 Million
GST Transfer Tax Rate – 47%

2006

Applicable Exclusion Amount - $2 Million
Lowest Estate Tax Rate – 46%
Highest Estate Tax Rate – 46%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 46%
GST Exemption Amount Allowable - $2 Million
GST Transfer Tax Rate – 46%

2007

Applicable Exclusion Amount - $2 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 45%
Lifetime Gifts Market Value Exemption -$1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 45%
GST Exemption Amount Allowable - $2 Million
GST Transfer Tax Rate – 45%

2008

Applicable Exclusion Amount - $2 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 45%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 45%
GST Exemption Amount Allowable - $2 Million
GST Transfer Tax Rate – 45%

2009

Applicable Exclusion Amount - $3.5 Million
Lowest Estate Tax Rate – 45%
Highest Estate Tax Rate – 45%
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 45%
GST Exemption Amount Allowable - $3.5 Million
GST Transfer Tax Rate – 45%

2010

Applicable Exclusion Amount - Repealed
Lowest Estate Tax Rate - Repealed
Highest Estate Tax Rate - Repealed
Lifetime Gifts Market Value Exemption - $1 Million
Lowest Gift Tax Rate – 35%
Highest Gift Tax Rate – 35%
GST Exemption Amount Allowable - Repealed
GST Transfer Tax Rate - Repealed

2011+

Applicable Exclusion Amount - $1.1 Million
Lowest Estate Tax Rate – 41%
Highest Estate Tax Rate – 55%
Lifetime Gifts Market Value Exemption - $1.1 Million
Lowest Gift Tax Rate – 41%
Highest Gift Tax Rate – 50%
GST Exemption Amount Allowable - $1.1 Million
GST Transfer Tax Rate – 55%
   
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We Serve the Following Los Angeles Zip Codes: 90001 90002 90003 90004 90005 90006 90007 90008 90010 90011 90012 90013 90014 90015 90016 90017 90018 90019 90020 90021 90022 90023 90024 90025 90026 90027 90028 90029 90031 90032 90033 90034 90035 90036 90037 90038 90039 90040 90041 90042 90043 90044 90045 90046 90047 90048 90049 90056 90057 90058 90059 90061 90062 90063 90064 90065 90066 90067 90068 90071 90077 90079 90094 90099 90101