Generation Skipping Transfer Tax

Definition:

This is a tax on estate tax transfers, generally through trusts that are intended to avoid estate taxes. There is a $1 million exemption, but the taxpayer has to elect to allocate it to a transfer, and this is hard to do when it is uncertain what the future value of the transfer will be. The result has been liability for practitioners for failing to elect to allocate some of the exemption to the transfer. This is a major issue currently for the big five, which have millions in potential liability.

Related terms:

Indirect Costs

Useful articles:

»	Six Essential Elements of Successful Sales Letters
»	10 Things Managers/Supervisors Should Know When Dealing With Staff
»	Essential Software
»	No Web Site Required: Profitable E-mail Marketing Tactics for Offline Businesses

Spouse Work

This calculator shows the additional income that a working spouse can earn and the expenses

Group Work

This calculator will tell you how long it would take two people to complete the task

Car payments

This calculator estimates your monthly payments on an auto loan

Browse by categories

Accounting	Advertising	Banking
Bankruptcy	E-Commerce	Economics
Finance	Law	Investment
Insurance	Marketing	Real estate
Statistic	Trade	Purchasing

Featured Articles:

Marketing

Myths & Facts

Myth.

Managing a marketing plan in-house on an as needed basis and distributing individual projects to multiple vendors will save money and allow more projects to be produced for great... [ more... ]

Management

Let's Not Lose Our Uniqueness or Our Thumbs!

Topic Number One -Our Uniqueness

Article after article about the changing nature of associations. Quote after quote about business ventures, "partnering," technology, knowled... [ more... ]

Marketing

Keep Busy

Over the years, I have observed many salespeople and their routines – daily, weekly, monthly and yearly. It is my belief that many salespeople waste a great deal of time. Some of the common ti... [ more... ]