“Deeply private in life, Aretha Franklin’s estate will be laid bare for all to see, as according to court documents, she died without having a will or trust in place.” Aretha Franklin’s net worth is estimated at $80M and the State of Michigan will decide how it’s distributed and anyone who wants to can read about EVERYTHING! Who owns her …
IRS Announces Inflation Adjustments for 2016
Rev. Proc. 2015-53 Income Tax: Highest Tax Bracket for Estates and Trusts. An estate or trust will be subject to the highest income tax bracket and Medicare surtax if taxable income exceeds $12,400 (increased from $12,300 in 2015). Gift Tax: Annual Exclusion for Gifts. The annual exclusion for gifts remains at $14,000 for 2016. Annual Exclusion for Gifts to Non-Citizen …