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Inheritance tax calculator
This Invezz inheritance tax calculator will tell you how much you’ll need to spend in inheritance taxes, and how much you’ll have left once those taxes are deducted. Keep reading to see how our inheritance tax calculator works and why it can be a useful tool for you.
Inheritance Tax Calculator (USA)
Copy link to sectionTaxable Estate: $0
Copy link to sectionFederal Estate Tax: $0
Copy link to sectionTotal Tax (Including State): $0
Copy link to sectionHow to use our inheritance tax calculator
Copy link to sectionTo use our inheritance tax calculator, follow these steps:
- Enter the Total Estate Value. Input the total value of the estate in dollars. This should include all assets, properties, investments, and any other wealth that will be passed on.
- Add Debts & Liabilities. Enter the total amount of debts and liabilities that the estate owes. This includes mortgages, loans, and any other financial obligations.
- Include Charitable Deductions. If any portion of the estate is being donated to charity, enter the total charitable deductions in dollars.
- Input State Estate Taxes. Enter any state estate taxes that apply to the estate. This amount varies depending on the state of residence.
- Enter Other Deductions. Add any additional deductions that might apply to the estate, such as funeral expenses or administrative costs.
- Calculate the Tax. Click the "Calculate" button. The calculator will process the data and display. Taxable Estate: The portion of the estate that is subject to taxes after exemptions and deductions. Federal Estate Tax: The estimated amount of federal estate tax owed.Total Tax (Including State): The total tax liability, combining both federal and state taxes.
How the inheritance tax calculator works
Copy link to sectionThe Invezz inheritance tax calculator combines the total value of the assets you’ve inherited with the debts you’ve incurred, adjusts them for local tax rates, and tells you what you can expect to collect once your entire tax burden has been settled.
Why should I use it?
Copy link to sectionBecause it’s an important tool that will help you plan responsibly for your financial future. The death of a loved one can cause confusion and uncertainty in addition to sadness, with financial repercussions often taking much longer to process. By using our inheritance tax calculator you can strip emotions out of an emotional process, figure out where you stand following your inheritance, and take steps to invest and allocate the funds you’ve inherited in a deliberate and intelligent way.
What is inheritance tax?
Copy link to sectionAn inheritance is an allotted set of assets passed down from a deceased person (usually a relative, partner, or friend) to a living person, and inheritance tax is the tax you pay as a beneficiary of anything left to you in a person’s will.
An inheritance can take many forms, including cash, financial assets such as stocks and bonds, and real estate. Most countries charge some form of inheritance tax (also called an estate tax), which makes it important to know your local laws and be able to calculate what you’ll owe in inheritance taxes.