The consequential income tax pitfalls that unwary taxpayers often fall into are then discussed. The analysis entails a discussion of effectiveness of the anti-tax avoidance legislation that South Africa has in place to counteract the ensuing tax avoidance, and it provides some recommendations as to ...
hedge fund,hedgefund- a flexible investment company for a small number of large investors (usually the minimum investment is $1 million); can use high-risk techniques (not allowed for mutual funds) such as short-selling and heavy leveraging ...
How trusts are taxed and how beneficiaries are taxed on the distributions received from the trust; includes trust tax tables and 2013 tax changes. Subtopics: Trust Accounting Income; Trust Taxable Income before the Distribution Deduction; Distributable N
Income taxesIrrevocable trustsIn this article, I review the features of so-called defective irrevocable grantor income trusts, also known as DIGITs. These trusts can provide estate and incomBalakrishna, Rachna DhandaSocial Science Electronic Publishing...
(1). (i) The rental income will be subject to income tax in the hands of the trustees. It will then be taxed again as part of Gerard’s taxable income and there will be a tax credit for the tax paid by the trustees. (ii) The...
Estates and nongrantor trusts must file income tax returns just as individuals do, but with some important differences. For one, their income is taxed at either the entity or beneficiary level depending on whether it is allocated to principal or allocated to distributable income, and whether it ...
Tax tips Help and support TurboTax Live Community Support Contact us Where's my refund File an IRS tax extension Access your Turbotax account Community Tax law & stimulus updates Refer Your Friends Tax tools Tax calculators and tools TaxCaster tax calculator ...
Template wills and inexperienced drafters may result in trustees having to pay 20% capital gains tax on loan accounts due by trusts to deceased estates. A recent judgement in the Special Income Tax Court considered that the drafting of a... J Booth - 《Taxtalk》 被引量: 1发表: 2009年 ...
EXECUTIVE SUMMARY * Income taxation of estates and trusts may not receive the same attention as individual income taxes or estate taxes. This article describes some of the general income tax rules of these entities, such as the different... SE Pippin - 《Journal of Accountancy》 被引量: 0发...
:a grantor trust lasting at least ten years with income payable to a beneficiary and principal reverting to the settlor upon termination Note:Prior to the Tax Reform Act of 1986, a Clifford trust could be used to divert income from the settlor, who was in a higher tax bracket, to a bene...