2011 Tax Considerations

Before the year end, Peter Shannon & Co. updates the Tax Considerations articles every year.  The following articles are categorized in:

  • Individual Income Tax Provisions
  • Education
  • Estate, Gift, and Generation-Skipping Transfer Taxes
  • Pension and IRA Provisions
  • Business Provisions
  • Things to Consider before the End of 2011

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Estate Planning after the Tax Relief Act of 2010

The President has signed into law the Tax Relief Act of 2010 on December 17, 2010.  This law broadly changes the estate, gift, and generation-skipping transfer (GST) tax rules for 2010, 2011, and 2012, and then permits the pre-EGTRRA 2001 law to be resurrected on January 1, 2013.

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Tax Relief Act of 2010

Congress has passed a comprehensive set of income tax, estate tax and unemployement insurance provisions as outlined by the deal previously negotiated between President Obama and Republican legislators.  The following explains the Act in five sections:

  • Individual Income Tax Provisions
  • Education
  • Trust, Estate and Decendent Income Tax
  • Estate, Gift and Generation-Skipping Transfer Taxes
  • Business Provisions.

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