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Citizens for Tax Justice has published an article which lists the number of residents of each state who paid estate taxes between the years 2000 and 2010. In 2000, there were 662 Tennesseans who paid estate taxes. This represented 1.2% of all the Tennesseans who died during the preceding year. This number gradually decreased during the following decade until only 40 Tennesseans paid taxes in 2010. This represented 0.1% of the Tennesseans who died in 2009.

The number of Tennesseans who will pay federal estate taxes in 2011 should be even less due to the one-year repeal of estate taxes for decedents dying in 2010.

Even though the number of estates paying federal estate taxes has declined, the number of estates paying Tennessee inheritance taxes has remained constant. Tennessee has not changed its estate tax laws since the 20th century. The Tennessee inheritance tax exemption is only $1 million. 

Citizens for Tax Justice advocates decreasing the estate tax exemption. It supports a proposal introduced by Congressman McDermott named “The Sensible Estate Tax Act of 2011.” This proposal would reduce the federal estate tax exemption from $5 million to $1 million per person.  Fortunately, noone expects this Act to be approved. 

When you are living from paycheck to paycheck and feel as if you are barely making ends meet, it can be difficult to accumulate savings. The best step to take is to set up an automatic transfer from your checking account into a savings account so that you save $25 or $50 to $100 or more from each paycheck. Once this becomes routine, you can gradually increase the transfer amount to equal ten percent of your income. In order to save this money, you will need to find a few ways to reduce your spending each month.

Here are a few suggestions for saving as much as $1,000 in one year:

1. Cancel your landline. Switch to using only a cell phone and you can save $25 or more each month.
2. Reduce your cable bill. Check your cable bill to see how much you can save each month by eliminating premium channels and consider getting rid of cable entirely and using free sites.

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We’ve all told a little white lie about money once in a while. But sometimes, little white lies can turn into big, stinking piles of deceit. Plus, when it comes to relationships, they can really get us into trouble. And what if you’re on the receiving end of the financial lie? Is it a big deal, or should you just let it slide?

We asked our Facebook and Twitter community to take a survey on which money lies are a “big deal” and which are “no big deal.” Let’s see how they responded and what you should do when confronted with one of these lies.

Your girlfriend/boyfriend lies about how much money she/he makes.

No big deal: 24%

If the difference of how much he or she makes was significant, you might want to ask for an explanation. For instance, if your boyfriend says he makes a lot less than he actually does and repeatedly asks you to pay for dinner and drinks, you could have a problem on your hands. If he’s treat

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If you having a number to debts to deal with and you are finding very difficult to pay back all the debts, in this case you can look for a professional help. Help from the team of experts can help you to handle the situation very well. Insolvency service and advice can help the borrower in gathering all the information on Individual voluntary arrangement (IVA).

By taking insolvency services you can easily solve the problem of debt. An Individual voluntary arrangement or IVA is an alternative to the bankruptcy and it was introduced by insolvency act 1986. And it is perfect option for that person who is suffering from the countless debt. And on the other hand it helps in reaching a final settlement. An IVA is accepted by the majority of creditors, and IVA becomes an important contract and every one have to follow it.

Insolvency services have a team of insolvent practitioners, and these practitioners are licensed agent and they guide the company or the individual how to solve the insolvency. Full Post…

Are you too busy in purchasing fresh turkeys, vegetables, and Christmas gifts from the supermarket? Are you spending your evenings in planning for the Christmas celebrations? Do you even realize that the New Year is knocking at the door? If you make some time out of your busy schedule and have a look at the calendar, then youll realize that the New Year will be arriving within a month. Due to this reason, you should start making your financial plans for the year 2012 at the very beginning of the December 2011. This will enable you to start the New Year at a good financial note. Read along to dig out the secrets to stay financially healthy in the next year.

Secrets to stay financially fit in the New Year

Here are the 7 secrets to remain financially fit in the next year:

1.

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