Communicating for America Applauds Fiscal Cliff Estate Tax Compromise

Schierer noted that farms and small businesses would have been the hardest hit if rates were allowed to rise. “A farmer’s assets are in his land, and many would have been forced to sell that land to pay the new taxes rather than transition that land to the next generation,” said Schierer. “The same would have been true for scores of small businesses. The rate and exemption levels have changed a number of times in the past 10 years, and that makes estate tax planning difficult. The permanent, indexed exemption level will allow small businesses to make sound decisions about their future estate tax planning.”

Communicating for America is a non-profit and non-partisan member-based organization that has a long history of support for common-sense tax policies that benefit America’s small business and the self-employed.

SOURCE Communicating for America