The tax paid by the buyer on the purchase of real in the city of Chicago increased from $7.50 per thousand of the purchase price to $10.50 per thousand starting 4/1/08. (There’s a minor exception for buyers of homes of $250,000 and under who are over age 65).
I know the CTA is in trouble, but this is exorbitant.
The presidential candidates have the following views on the estate tax (inheritance tax):
Democrats
Hillary Clinton- $3.5 million exclusion amount per person, but keep the tax
Barack Obama – wants to keep the tax and to put the exclusion high enough so no family business has to be sold to pay the tax. No specific amount mentioned.
Republicans
Mitt Romney – Eliminate the tax
John McCain – $10 million exclusion, but keep the tax
Twice in the last few months, I’ve run across an amazing program that makes monthly payments to veterans who are disabled or having trouble living on their own. The name of the program is the VA Aid and Attendance Program.
Here’s what it does:
What it takes to qualify
Here is how to apply.