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By Paul D. Brick, CFP® 
Certified Financial Planner
Stambaugh Ness Financial Strategies
Estate taxes generally must be paid within nine months. But there might be a way to extend that time frame to more than a decade - if an estate qualifies for a special break.

Which estates are eligible? Those that include a closely-held business or farm that comprises at least 35 percent of the estate's overall value. In these cases, the tax can be spread out over ten years, after a five-year deferral.

However, there is a price: A two percent interest rate applies to some of the deferred tax. 

Contact Paul Brick, CFP® for help in planning how to pay off an estate tax bill. He can help to determine the best route to take. You can reach Paul at 717-757-6999 or 800-745-8233 or send him an email by using the form below. 
 

Securities and advisory services offered through Geneos Wealth Management, Inc. Member FINRA/SIPC. Geneos Wealth Management, Inc is not affiliated with Stambaugh Ness CPA/Business Consultants.


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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

IRS Circular 230 Notice: To ensure compliance with requirements imposed by the IRS, we inform you that any US tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.

Securities and advisory services offered through Geneos Wealth Management, Inc. Member FINRA/SIPC. Geneos Wealth Management, Inc is not affiliated with Stambaugh Ness.