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Home » BLOG » Obama’s Estate and Investment Tax Proposals

Obama’s Estate and Investment Tax Proposals

September 26, 2012 by Stephen A. Mendel, Estate Planning Attorney

In our last post, we discussed what Mitt Romney proposes to do about the estate tax and taxes on investments if he is elected President. Of course, President Obama also has his own proposals and they include some changes from the current laws, so we should look at what he proposes to change.

For the estate tax, President Obama proposes a return to the 2009 rules. These set the estate tax exemption at $3.5 million and the estate tax rate at 45%. This is an increase in the estate tax from 2012 levels. However, it is a decrease from the levels scheduled for 2013.

Obama’s proposals on investment income are a little more complicated. Most people would not see any changes from current tax rates. However, President Obama is proposing that high earners pay more in investment taxes. Specifically, he proposes a maximum rate of 20% on long-term capital gains for anyone with an annual income greater than $250,000. The current rate is 15%. President Obama also proposes that people in the two top income brackets pay 36% and 39.6% tax rates respectively on dividends, which is also an increase of the current rate of 15%.

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Stephen A. Mendel, Estate Planning Attorney
Stephen A. Mendel, Estate Planning Attorney
Mr. Stephen Mendel is an attorney who focuses a substantial part of his practice on estate planning. Mr. Mendel’s guiding principle is to provide his clients with quality legal services tailored to each client’s specific needs and goals.
Stephen A. Mendel, Estate Planning Attorney
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Filed Under: Tax Tagged With: estate tax

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About Stephen A. Mendel, Estate Planning Attorney

Mr. Stephen Mendel is an attorney who focuses a substantial part of his practice on estate planning. Mr. Mendel’s guiding principle is to provide his clients with quality legal services tailored to each client’s specific needs and goals.

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