Congress Eyes Death Tax Repeal
Death Tax Repeal Act of 2013 would help inheritors of small businesses avoid paying an inheritance tax.

Article


Death Tax Repeal
July 03, 2013 By Jason Knott

Congress is making another attempt to eliminate the so-called death tax that, due to the high tax liability, can force integrators and other small businesses to sell or close rather than have their children inherit the business.

This is probably relevant to the commercial integration industry in which more than a few companies are family owned.

Two bills - H.R. 2429 introduced by Representative Kevin Brady (R-Texas) and S. 1183 introduced by Senator John Thune (R-S.D.) - would call on the IRS to eliminate Inheritance Taxes and reduce Gift Taxes over a 10-year period.

Small businesses that often declare their business income as personal income are affected by the Inheritance Tax. The bill creates a scale for Gift Taxes between 18 percent for gifts under $10,000 to 35 percent for gifts more than $500,000.

The likelihood is low that the revenue-reducing bills, dubbed the “Death Tax Repeal Act of 2013,” will pass the Democrat-controlled Senate. The introduction of the bills was hailed by the National Association of Electrical Distributors (NAED). The group cites a study from the Congressional Budget Office that says repeal of the death tax would create 1.5 million new small business jobs and cut the nation’s unemployment rate by one percentage point.

Work Smarter: Keep Ahead of the Competition

Keep up with the changing A/V world with Commercial Integrator. Each issue makes it easy to understand and apply the latest A/V trends and techniques — whether you deal with UHDTV, wireless AV, Digital Video/IPTV, networking, HDBaseT or HDMI.
It's not enough to keep up with the competition. You need to stay ahead of them. Subscribe to Commercial Integrator today for the latest techniques and insights you need to drive your business.

Social Bookmark or Share This
  • Facebook
  • Twitter
  • Digg
  • Del.icio.us
  • Yahoo! Bookmarks
  • Google Bookmarks
  • StumbleUpon
  • Technorati
  • Reddit
  • Windows Live
  • LinkedIn
  • Evernote
  • E-mail


  • Latest
  • Blogs
  • Photos
  • Resources
White Paper:
Ignorance, Defiance on ADA Compliance Among Regulatory Nightmares

Many integrators still don’t know everything they’re supposed to be doing — from ADA to new overtime rules to EPA compliance and more — possibly bogged down by laws they are unable to keep up with.

White Paper: Secrets to Installing Outdoor Audio-Video Safely
White Paper: New Standard Revs Up Networking Game
White Paper: 7 Tips for Rolling Out University Digital Signage
White Paper: From Chaos to Control - Your Guide to Business Efficiency
White Paper: The Ultimate Guide to As-a-Service
White Paper: IP Meets IoT: Choosing the Right Technology for the Future of Building Automation
Webcast: How Selling Broadband Services Can Boost Monthly Revenue
View more papers or webcasts


Recent comments

Mike;

Great to hear. Nice selection and focus on the AV Integrator.

What section of InfoComm…

Posted by Tucker on 2016 06 22 · commented on
'Lights Out: How Integrators are Missing Opportunities in the Lighting Sector'.

Jack:

Thanks for the good words.  How do you think we can bring the two together?  Would…

Posted by Tucker on 2016 06 22 · commented on
'Lights Out: How Integrators are Missing Opportunities in the Lighting Sector'.

If anyone is interested in more details, feel free to reach out to us at EBS.
This system uses our…

Posted by Alex on 2016 06 22 · commented on
'Inside One of the Most Innovative Dental Simulation Clinics in the World'.

Commercial and residential integrators need to visit www.colorbeamnorthamerica.com for the evolution in lighting.

Posted by Mike Teolis on 2016 06 21 · commented on
'Lights Out: How Integrators are Missing Opportunities in the Lighting Sector'.