Obama Budget Creates Second Death Tax

The Obama budget calls for a stealth increase in the death tax rate from 40% to nearly 60%. Here’s how it works:

Under current law, when you inherit an asset your basis in the asset is the higher of the fair market value at the time of death or the decedent’s original basis. Almost always, the fair market value is higher….

Source Article from http://www.freedomsphoenix.com/News/170538-2015-02-03-obama-budget-creates-second-death-tax.htm?EdNo=001&From=RSS

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Obama Budget Creates Second Death Tax