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Anton
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The Government follows you to your grave
04/18/17 at 05:42:11
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My wife and I are I our mid eighties and must still endure the misery of filing tax returns for both the Federal Government and the State.  Maybe the Government needs the money as it seems to quibble for every cent.

At the time of your death the Government zeros in to see what it can squeeze out of you. Such is the prevailing tactic. The state of Ohio followed my mother by squeezing from her an estate tax.  Has anyone here experienced such inhumane grabbing of a person's assets as they age ??
  
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bigmck
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Re: The Government follows you to your grave
Reply #1 - 04/18/17 at 10:51:30
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The estate is a real tax but it does not apply unless the estate is over $5 million (2017). 
https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
  
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Lily003
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Re: The Government follows you to your grave
Reply #2 - 04/18/17 at 12:47:54
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I think life insurance is not taxed on the beneficiaries.

And it's true that the Estate has to be over a certain amount to trigger the Estate tax.

I think being 65 or older gets you some deduction on your taxes.  Some places have senior exemptions on property tax (not where I live). 

Otherwise, you are taxed until you die!

Lily003   Angry
  
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Seniorpatriot
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Re: The Government follows you to your grave
Reply #3 - 04/22/17 at 11:53:00
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My county does one good thing for seniors. Because we no longer have kids in school, we do not have to pay the school tax.
  

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