Six ways to reduce your inheritance tax – Protect your inheritance to your children from a high tax burden

Few taxes are as divisive and emotional as estate taxes. Consider the political uproar after a government-appointed tax commission last month proposed “substantially lowering the threshold” at which people start paying taxes on gifts or inheritances.

The Commission on Taxation and Welfare’s recommendation to cut the amount parents can leave their children tax-free was seen by advocates as a way to reduce inequality caused by intergenerational wealth transfer. However, critics saw this not only as a form of double taxation, but also as an attack on the so-called “mom and dad’s bank”; With house prices skyrocketing and rents shutting young people out of the housing market, many millennials’ only chance of climbing the real estate ladder is through inheritance.

https://www.independent.ie/business/personal-finance/tax/six-ways-to-reduce-your-inheritance-tax-protecting-your-legacy-to-your-children-from-a-hefty-tax-bill-42048081.html Six ways to reduce your inheritance tax – Protect your inheritance to your children from a high tax burden

Fry Electronics Team

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