How to File Taxes for a Special Needs Trust
Taxation of Special Needs Trusts Typically, a special needs trust is set up for someone who has certain disabilities that allows him or her to receive government benefits. To qualify for many of these benefits your net worth and income levels must remain below specified thresholds. To allow someone to own additional assets, those assets […]
What is a Non-Grantor Trust?
With tax season in full swing and filing deadlines approaching, people often ask how different types of trusts are taxed. he answer depends on how the trust is structured. The main difference between a grantor trust and a non-grantor trust lies in how the IRS treats their income for tax purposes. In a grantor trust, […]