The Bush tax cuts are set to expire at the end of this year. Let's hope the biennial recrudescence of our representative democracy are able to give some thought to issues larger than themselves in considering extending some or all of those cuts.
But whether they do or don't -- and they won't -- I see an opportunity. One of the vile changes made by those tax cuts was the gradual reduction of the Estate Tax, to the point where anyone dying in 2010 (that's this year, y'all) has no federal estate tax liability, no matter how much their estate is. If this enactment is not extended, on January 1, 2011, the Estate Tax top rate goes back to where it was ten years ago; if memory serves, it topped out at 55% for large estates.
Do you have a rich ancestor, from whom you expect to inherit at least eight figures when he or she kicks the bucket? Then you may want to take advantage of this offer. For a price, sufficient to cover my bail and pay my lawyers through trial, appeal, and re-trial; grease a few palms down at the capitol; and endow a bank account in St. Kitts and Nevis, I'll knock off the old buzzard before the end of the month, saving you, potentially, millions of bucks in Estate Tax payments. All you have to do is give me cash up front, send the servants out for the evening, and leave the front door unlocked and a nice car in the driveway with a full tank and the key in the ignition. I'd prefer Porsche, but any European luxury roadster will do.
Place your orders now; there's not a lot of time before Uncle Sam gets to take his share again, and I expect a lot of action as the deadline -- tee hee --- gets nearer.