Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more.
Latest posts by Daniel DeBruyckere (see all)
- The Manner in Which You Hold Joint Title Is Important - June 25, 2019
- New Tax Proposal re: Retirement Savings - June 20, 2019
- New Jersey A.G. Announces New Protections for Elderly - June 18, 2019