TaxationAppleton, 1927 - 257 pages |
From inside the book
Results 1-5 of 92
Page 36
... payable to estate 25,000 100,000 $ 350,000 Gross estate .... $ 275,000 $ 350,000 $ 350,000 Less deductions for funeral expenses , administration , claims against es- tate , etc. 115,000 115,000 115,000 $ 160,000 $ 235,000 $ 235,000 ...
... payable to estate 25,000 100,000 $ 350,000 Gross estate .... $ 275,000 $ 350,000 $ 350,000 Less deductions for funeral expenses , administration , claims against es- tate , etc. 115,000 115,000 115,000 $ 160,000 $ 235,000 $ 235,000 ...
Page 37
... payable to : exemption Beneficiary A. 10,000 Beneficiary B. 10,000 $ 50,000-20,000 = 25,000 10,000 exemption Beneficiary C. 5,000 25,000 10,000 30,000 $ 100,000 - 13,333.33 - $ 86,666.67 = 15,000 100,000 - 13,333.34 = 86,666.66 ( less ...
... payable to : exemption Beneficiary A. 10,000 Beneficiary B. 10,000 $ 50,000-20,000 = 25,000 10,000 exemption Beneficiary C. 5,000 25,000 10,000 30,000 $ 100,000 - 13,333.33 - $ 86,666.67 = 15,000 100,000 - 13,333.34 = 86,666.66 ( less ...
Page 38
Harry James Loman. Insurance payable to : prorated Beneficiary A .. $ 50,000-20,000 = $ 50,000-20,000 = prorated $ 350,000 Gross estate Net taxable estate A third group frequently exists where part of the insurance. GROUP III CASE 1 CASE ...
Harry James Loman. Insurance payable to : prorated Beneficiary A .. $ 50,000-20,000 = $ 50,000-20,000 = prorated $ 350,000 Gross estate Net taxable estate A third group frequently exists where part of the insurance. GROUP III CASE 1 CASE ...
Page 39
Harry James Loman. A third group frequently exists where part of the insurance is payable to the estate and part payable to designated beneficiaries . Group III on page 38 is an illustration . Several important conclusions may be drawn ...
Harry James Loman. A third group frequently exists where part of the insurance is payable to the estate and part payable to designated beneficiaries . Group III on page 38 is an illustration . Several important conclusions may be drawn ...
Page 40
... of his residuary estate . At the time of his death there were outstanding eleven policies aggregating $ 474,629.52 . Four of these were payable 40 TAXATION Legality of Taxing Insurance to Specifically Named Beneficiaries.
... of his residuary estate . At the time of his death there were outstanding eleven policies aggregating $ 474,629.52 . Four of these were payable 40 TAXATION Legality of Taxing Insurance to Specifically Named Beneficiaries.
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Common terms and phrases
allowed each beneficiary amount in excess amounts received annual apply cash cent per annum chapter charitable classes of beneficiaries contemplation of death cost death duties decedent's deductible exemption Discount and Interest dividends donor effect in possession Endowment Policies entirely exempt estate tax law exceed exceeding executor February 28 Federal estate tax Federal income tax ficiaries gift grantor gross estate gross income gross taxable estate husband Illinois included income tax law inheritance tax law installments insurance companies Insurance payable insurance policies insurance proceeds interest therein intestate laws levied lineal descendant ment net estate Nonresident Decedents North Dakota payments Pennsylvania personal property policies paid policyholders premiums paid present value present worth Property Subject providing Rates of Tax real estate real property reported residuary estate specifically named beneficiary subject to tax surance tangible tax is imposed tax purposes taxable income taxation theory tion trust worth of $1
Popular passages
Page 125 - The amount of all bequests, legacies, devises, or transfers, to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes...
Page 34 - To the extent of the amount receivable by the executor as insurance under policies taken out by the decedent upon his own life; and to the extent of the excess over $40,000 of the amount receivable by all other beneficiaries as insurance under policies taken out by the decedent upon his own life.
Page 111 - States by such trustee or trustees, or by such fraternal society, order, or association, exclusively for religious, charitable, scientific; literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 205 - The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts, either during the term or at the maturity of the term mentioned in the contract or upon surrender of the contract...
Page 237 - ... (b) To the extent of any interest therein of which the decedent has at any time made a transfer, or with respect to which he has created a trust, in contemplation of or intended to take effect in possession or enjoyment at or after his death, except in case of a bona fide sale for a fair consideration in money or money's worth.
Page 237 - When the transfer is of property made by a resident or by a nonresident when such nonresident's property is within this state, by deed, grant, bargain, sale or gift made in contemplation of the death of the grantor, vendor or donor, or intended to take effect in possession or enjoyment at or after such death.
Page 237 - Whenever property is held in the jomt name« of two or more persons, or as tenante by the entirety, or is deposited in banks or other institutions or depositaries in the joint names of two or more persons and payable to either or the survivor, upon the death of one of such persons the right of the surviving...
Page 179 - ... father, mother, husband, wife, child, brother, sister, wife or widow of a son or the husband of a daughter...
Page 243 - State, or by deed, grant, sale or gift made or intended to take effect in possession or enjoyment after the death of the grantor...
Page 109 - ... for religious, charitable, scientific, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private stockholder or individual, or to the special fund for vocational rehabilitation...