Estate vs. Inheritance Tax: What Are the Differences?
If you thought Uncle Sam was going to give you a break because you lost a loved one, think again. The estate or inheritance you receive as a beneficiary of the decedent might be subject to taxation. It’s not uncommon for people to use the terms “estate tax” and “inheritance tax” interchangeably. These taxes apply both at the state and federal levels. Knowing how to differentiate between […]