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 the filing deadline approaching, many wonder how trusts are taxed. That depends on the type of trust. The main difference between a grantor and non-grantor trust is how they are taxed. With a grantor trust, the grantor retains some control over the assets in the trust. A non-grantor […]