people plant in the spring and leave in the summer. If you've
up for a season, see it through. You don't have to stay forever,
but at least stay until you see it through." -- Jim
this power is I cannot say; all I know is that it exists and it becomes
available only when a man is in that state of mind in which he knows
what he wants and is fully determined not to quit until he finds it."
of the important things in the world have been accomplished by people
have kept on trying when there seemed to be no hope at all." – Dale
is not to be pursued; it is to be attracted by the person you become."
-- Jim Rohn
you identify something that you do well, that you enjoy doing, and that
supports the values that are important to you, you have defined success
in your terms." -– Nido
measure of success is not whether you have a tough problem to deal
but whether it's the same problem you had last year." -- John
The 2010 Tax Relief Act brings a
degree of certainty to estate and gift tax planning, but only for 2011 and
2012. The Act contains a
"sunset" provision, meaning that the following estate and gift tax
provisions in the 2010 Tax Relief Act terminate at the end of 2012. Without future Congressional action,
beginning in 2013, federal estate and gift tax rules will revert to those in
effect in 2001.
The temporary 2011
– 2012 estate and gift tax regime includes the following:
federal estate and gift tax is reunified, with a maximum tax rate of 35% and an
exclusion amount of $5 million:
- The $5
million unified credit exemption equivalent will be adjusted for inflation in
step-up in basis rules for valuing assets at death are restored.
- The 2010
Tax Relief Act provides for "portability" of the maximum estate tax
unified credit between spouses. This means that a surviving spouse can elect to take advantage of any unused portion
of the estate tax unified credit of his or her predeceased spouse. As a result, with this election and careful
estate planning, married couples can effectively shield up to $10 million from
the federal tax.
- The 2010 Tax Relief Act provides a $5 million
generation-skipping transfer tax exemption, with a maximum generation-skipping
tax rate of 35%.
Without future Congressional action, beginning
- The estate
and gift tax provisions in the 2010 Tax Relief Act "sunset" or terminate at the end of 2012, in which case 2001
tax rules will be reinstated:
- Estate and gift taxation
will be at the 2001 federal estate and gift tax rates with maximum tax rate of
55% and a $1 million exemption equivalent.
unified credit and exemption equivalent will not be adjusted for inflation.
step-up in basis rules for valuing assets at death are retained.
of the maximum estate tax unified credit between spouses will no longer be
- Generation-skipping transfer taxation will return
to 2001 levels.
If you would like
additional information on how specific provisions of the 2010 Tax Relief Act might impact your planning, please call my office.
MAKES PEOPLE TICK?? by Paul J. Meyer
of all, I am not a psychologist. HOWEVER, I am something
over 50 years experience from:
lifetime accumulation, I have learned the following to be ABSOLUTES
the most important thing:
and asking God for WISDOM & UNDERSTANDING!!
People act in their own self-interests! I have never
this as bad. I believe we are inherently made that way.
There are only TWO REASONS that ninety-nine percent of the time anyone
does anything: 1) Either to gain a benefit, or 2) To avoid a loss.
There is no Santa Claus! (He ain't comin'!) And yet, it's sad to
so many people are sitting around in their offices procrastinating,
excuses, thinking that something magical is going to appear.
There ain't no free lunch! Too many young people have developed a
mentality"...If they could just hit the BIG one! The truth is, we are
going to get what we go after...inch by inch...step by step...day by
Everybody has a hot button! The only way we know
where it is and what it is, is to ask questions, listen, and be
seeing things from their point of view. What is your hot button?
You must be sensitive and empathetic. Empathy is the imaginative
of yourself in the other person's shoes.
respond to those who have loving attitudes. This means thinking
highly of others than yourself...putting other people first.
SUCCESS BY USING
you can master the above, and go out of your way to articulate and
it, with a golden-rule philosophy...doing unto others as you would have
them do to you...then I promise you that the world will become your
and you will set records you didn't try to set! You will achieve
goals beyond your wildest expectations, and the LAW OF COMPENSATION
pass your office when you least expect it!
GOLDEN RULE PHILOSOPHY!!
don't want to add to your e-mail clutter! If you do not enjoy
newsletter, just reply to this e-mail and ask to be removed or call my
of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
in nature and should not be considered complete information on any
or concept described. For more complete information, please
my office at the phone number above.
Published by The Virtual Assistant; © 2011 VSA, LP