Estate taxes and inheritance taxes are triggered by death. This is the only similarity between the two. Countries that levy estate and inheritance tax have set exemption levels which vary from place to place. Image by Nattanan Kanchanaprat from Pixabay People have to pay taxes only on the amount above the level of exemption. Compared to the other nations that levy estate … [Read more...]

Very often the terms estate tax and inheritance tax gets mixed up. People use them interchangeably causing a great deal of confusion. Estate and inheritance taxes are two entirely different things even though on the surface it seems those two terms refer to the same kind of tax. Image by Gerd Altmann from Pixabay So what exactly is the difference between the two? The … [Read more...]