Download or read book Charitable Bequests and Taxes on Inheritance and Estates written by Jon Bakija and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: One recurring issue in the debate over the estate tax is its impact on the non-profit sector. With the top marginal rate of federal estate tax currently at 49 percent, abolishing the tax would approximately double the price of a charitable bequest relative to an ordinary bequest for the wealthiest estates. It would also, however, raise the after-tax wealth of decedents, so the ultimate impact of any particular policy change depends in part on the relative sizes of the price and wealth elasticities. This paper estimates the impact of taxes on charitable bequests using an econometric framework that exploits the fact that federal and state tax rates on estates and inheritances have changed over time in different ways across states and real wealth levels. The effect of federal and state inheritance and estate taxes on charitable bequests is estimated using pooled cross-sectional data spanning several decades information from federal estate tax returns. Under several different specifications, we find evidence that the incentives for charitable giving present in state and federal estate and inheritance taxes have a strong positive effect on charitable bequests. Our estimates that rely on differences in the time path of state and federal tax rates across groups provide a more credible source of identification than the previous literature of a large and significant price elasticity of charitable bequests.
Download or read book Rethinking Estate and Gift Taxation written by William G. Gale and published by Rowman & Littlefield. This book was released on 2011-07-01 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although estate and gift taxes raise a small fraction of federal revenues, they have become sources of increasing political controversy. This book is designed to inform the current policy debate and build a conceptual basis for future scholarship. The book contains eleven original studies of estate and gift taxes, along with discussants' comments. The essays provide background and historical information; analyze the optimal taxation of estates and gifts; examine the effects of the tax on charitable contributions, saving behavior, the distribution and level of wealth, tax avoidance and tax evasion; and explore the effects of alternatives to estate taxation.
Download or read book Charitable Bequests and the Federal Estate Tax written by Boris I. Bittker and published by . This book was released on 1975 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Death and Dollars written by Alicia H. Munnell and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the recent downturn in the stock market, the 1990s boom and the shift to defined contribution plans mean that more individuals will have significant wealth upon retirement. How they use that wealth will determine not only their own well-being, but also the living standards of their children, the resources available to philanthropies, and the level of investment capital in the economy. This volume explores the reasons why people save, how they decide to allocate their wealth once they retire, and how givers select their beneficiaries. It also assesses the extent to which the estate tax and annuitization of retirement wealth affects the amount and nature of wealth transfers. Finally, it looks at the impact of wealth transfers––first on the amount of aggregate saving and capital accumulation, and then on the distribution of wealth among households. Several conclusions emerge. First, gifts and bequests are important; they may account for about half of total wealth in America. Second, rich people make most of the wealth transfers. They are thoughtful about how much they pay in taxes and how they dispose of their wealth. They care about philanthropic causes and view their charitable contributions as more than a way to avoid paying estate taxes. Third, most nonrich people probably have some lexicographic preferences about the disposition of their wealth; they want to ensure they have adequate resources to take care of their own needs, and if money is left over, they would like it to go to their children. Fourth, little support has emerged for the pure altruistic model of bequests. Fifth, institutions matter. In the case of the rich, the estate tax probably reduces saving and increases bequests to charity. In the case of the nonrich, the shift to defined contribution plans will at a minimum mean that they have more wealth in their hands when they die, and therefore they will leave larger accidental bequests. It might also increase their interest in lea
Download or read book Federal Estate and Gift Taxes written by Carl Sumner Shoup and published by . This book was released on 1966 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Distribution of Estates by Will and by Law written by Irving Bank-Columbia Trust Company and published by . This book was released on 1923 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Writing Your Will written by Holmes F. Crouch and published by . This book was released on 1998 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Minimize death taxes through estate planning--selecting an executor, identifying heirs and beneficiaries, and describing property."--Cover.
Download or read book Effects of the Federal Estate Tax on Farms and Small Businesses written by United States. Congressional Budget Office and published by . This book was released on 2005 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gifts Versus Bequests to Charitable Educational and Religious Organizations written by Clarence Morton Winslow and published by . This book was released on 1940 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Descent and Distribution of Decedents Estates with a Synopsis of New York Transfer Tax and Federal Estate Tax Laws written by Columbia Trust Company and published by . This book was released on 1921 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Description and Analysis of Proposals Relating to Estate and Gift Taxation written by and published by Congress. This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distributed to some depository libraries in microfiche.
Download or read book Estate Taxes and Tax Exempt Residues written by Helmut Andresen and published by . This book was released on 1962 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Charitable Bequests and Taxes on Inheritances and Estates written by Jon M. Bakija and published by . This book was released on 2003 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estate Taxes and Charitable Bequests by the Wealthy written by David Joulfaian and published by . This book was released on 2000 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Charitable bequests are an important source of philanthropic support. Unlike bequests to children which can be taxed at a maximum statutory rate of 0.55, such transfers are exempt from estate taxation. Thus, by lowering the price of charitable giving, the estate tax may influence the disposition of terminal wealth. In this paper, I examine the effects of estate taxation on charitable bequests using data from estate tax returns of decedents in 1992. The results suggest that the estate tax deduction is budget' efficient. The overall effects of the estate tax, however, are likely to be modest as charitable bequests are wealth elastic
Download or read book Inheritance and the State written by Richard E. Wagner and published by . This book was released on 1977 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estate and Gift Tax Hearings written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1976 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Research Papers Taxes written by Commission on Private Philanthropy and Public Needs and published by . This book was released on 1977 with total page 740 pages. Available in PDF, EPUB and Kindle. Book excerpt:
