Search for: "The General Income Trust "
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30 May 2024, 10:39 am
Grant of Powers to Client: The client is granted certain powers that, for income tax purposes, result in the BDIT being included in the client’s federal taxable income (i.e., powers that make the BDIT a “grantor trust” to the client). [read post]
15 Apr 2008, 4:00 am
A massive $110 million lawsuit has been brought by the Attorney General’s office in California against a “living trust mill that tricked senior citizens into using their retirement savings to buy annuities that often made less financial sense for the elderly victims but earned the con artists substantial commissions and other income. [read post]
16 Apr 2020, 1:06 pm
Non-Traded REITs such as a DC Industrial Liquidating Trust are generally speculative, high risk investments and due to these risks are often unsuitable for most investors. [read post]
2 Aug 2013, 2:11 am
Though it’s sometimes difficult to determine which is which, the difference between a simple and complex trust is how the trust distributes any income it generates. [read post]
26 Dec 2016, 8:01 am
The term generally includes all matters relating to the administration of estates. [read post]
20 Dec 2021, 11:43 am
Trusts are a relationship where one or more people manage property on the behalf of others. [1] The person managing the trust is called the trustee and the person receiving the income from the trust is called the beneficiary. [2] Trusts are generally more complex than other traditional estate planning tools. [read post]
10 Aug 2015, 6:00 am
A charitable lead trust is a sophisticated income and estate tax planning tool. [read post]
5 Jun 2023, 4:29 am
Trusts and estates law can also be a powerful financial planning tool to help families manage, protect, and preserve wealth for future generations. [read post]
11 Jul 2012, 1:00 pm
New York Times: Only Half of Americans Exceed Parents’ Wealth, by Catherine Rampell: [From The Pew Charitable Trusts, Pursuing the American Dream: Economic Mobility Across Generations:] In absolute terms, intergenerational income mobility looks pretty good. [read post]
6 Nov 2015, 9:38 am
” The sentence preceding that one, however, provides the context: “[A] payment from a trust is any disbursal from the corpus of the trust or from income generated by the trust which benefits the party receiving it. [read post]
21 Jan 2013, 9:10 am
In a traditional trust where the income beneficiary receives distributions of income at least annually and the principal beneficiary gets the trust principal at the death of the income beneficiary, the FPIA rules governing income/principal determine the benefits to be shared between the beneficiaries. [read post]
1 Aug 2016, 12:08 pm
Also, all of the income your trust assets may generate belongs to you and must be reported on your personal income tax return. [read post]
1 Aug 2016, 12:08 pm
Also, all of the income your trust assets may generate belongs to you and must be reported on your personal income tax return. [read post]
4 Jan 2008, 2:27 pm
” “Exempt Trusts” in this context means trusts which were executed prior to October 22, 1986 when Congress passed the Tax Reform Act of 1986 which contains the current form of the Generation Skipping Transfer (GST) Tax that we all know and love. [read post]
18 May 2014, 11:01 am
The amendment created an exception to general trust law by including certain trusts with an individual’s assets for the purpose of determining whether an applicant’s resource level exceeded the maximum limits. [read post]
3 Apr 2007, 9:30 pm
There are many different ways to donate funds, such as trusts, life insurance policies, annuities and gifts in wills. [read post]
1 Feb 2010, 7:51 am
The severance will not cause income or gift tax consequences and the basis and holding periods of the trust assets will remain the same.A private letter ruling can not be cited as legal support for another taxpayer's situation. [read post]
23 Jan 2023, 4:34 pm
A grantor trust, he explained, pays all of the income tax on the income and gains of the trust and a non grantor trust pays its own income tax. [read post]
5 Jun 2012, 4:07 am
For estates and trusts, the tax equals 3.8% of the lesser of the entity’s undistributed net investment income or adjusted gross income over the dollar amount at which the highest trust and estate tax bracket begins. [read post]
18 Sep 2017, 10:40 am
Additionally, joint tenancy creates pitfalls for income tax purposes versus a trust. [read post]
