Ensuring that all taxes owed by the trust are paid on time:This task includes filing tax returns and making estimated tax payments. Making distribution decisions based on the needs of the beneficiaries:Trustees must balance meeting the needs of the beneficiaries in the present and their possible n...
But agreed its a good thing there is no capital gains tax on a primary residence. And as long as the LibDems don’t win the next election council tax is not as bad as property taxes in some other countries that are directly related to the current value. ...
Offers investment advice related to estate planning to individuals who are not considered wealthy. Traditional estate planning tools, including trusts; Comments from estate-planning lawyer and accountant James Lange, regarding the use of an immediate annuity instead of a spendthrift trust; Recommendations...
Alternative investments can further complicate your taxes by requiring additional forms. You also have less control over your total capital gains because the fund manager can sell assets at any time. These assets can outperform stocks and bonds, but it's still possible for alternatives to underperfo...
It also has a tax on gifts, but gift taxes are paid by the donor — not the donee. Furthermore, the federal government provides a large unified credit that can be used to offset both estate and gift taxes, with the result that considerable wealth can be transferred tax-free. Nonetheless...
Depending on the type of investment account you own, dividend distributions are taxed as regular income or at a reduced rate under special considerations. These rules only apply for holdings outside tax-advantaged accounts like a 401(k) or an IRA, where you won’t pay taxes on dividends or...
Potential tax advantages include reducing estate taxes by removing assets from the estate through an irrevocable trust. However, the advantages of trusts must be weighed against the costs and complexity of setting up and maintaining a trust. A professional consultation and analysis of trust fund alter...
If the business is earning an income (rental property), does the $800 CA FTB tax over and above taxes paid on the real estate rental income? Reply Matt Horwitz December 26, 2017 Hi Ali, yes, correct. The $800 California Annual Franchise Tax must be paid, regardless of business activity...
Taxes on ETFs ETFs are often said to have better tax treatment thanmutual fundsbecause of their structure. They create and redeem shares using in-kind transactions, which aren't considered sales and, therefore, don't trigger taxable events. ...
If you live in a state with an estate tax, you're more likely to feel its pinch than you are to pay federal estate tax. The exemptions for state and district estate taxes are all less than half those of the federal assessment. Some state estate tax exemptions may be as low as $1 m...