CI 46 - Learn About New York's New State Tax with Ashlea Ebeling

Ashlea Ebeling is an editor for Forbes Magazine and is a tax expert. She wrote a shocking article for Forbes about New York having a 164% marginal tax. She explains how this happened as well as shares tips on how you can become sheltered from estate taxes. On the show, Jason and Ashlea talk about where is the best place to die in the US, inheritance taxes in different states, and more. 

 

Key Takeaways:

2:35 – How is it possible New York has a 164% marginal tax? 

5:00 – You have an exemption of up to $5.42 million dollars for estate taxes in New York. 

6:55 – You need to look at the whole tax picture before moving to a state – income, sales, property, estate taxes, and more. 

8:40 – There are four big ways you can get around estate taxes. Ashlea explains. 

10:45 – Check out the TaxFoundation.org for tax info specific to your state. 

13:10  - Ashlea talks about the percentages of inheritance tax in various states around the nation. 

15:45 – Is a Roth IRA a good idea? 

19:45 – 2015 has a lot of new tax laws that you need to be careful about. 

21:00 – You may have delayed tax refunds because of the new laws taking place. 

 

Mentioned In This Episode:

http://www.businessinsider.com/bond-market-panic-phase-of-financial-crisis-2015-1

http://www.forbes.com/sites/ashleaebeling/2014/09/11/where-not-to-die-in-2015/

http://taxfoundation.org/

https://twitter.com/ashleaebeling