Category: Tax

IC-DISC: What is it and how does it work?

IC-DISC

An Interest Charge Domestic International Sales Corporation, or IC-DISC, offers a significant federal income tax savings for making or distributing U.S. products for export.

The Kiddie Tax Under TCJA

Whether you’re looking to reduce tax, shift income, or fund education, it’s important to understand the changes that the Kiddie Tax law underwent with TCJA.

Pros and Cons of 529 College Savings Plans

This article covers the pros and cons of 529 college savings plans which are education savings plans operated by a state designed to help fund education.

Estate and Gift Tax Under TCJA

Taxpayers have now through 2025 to take advantage of the increased estate and gift tax lifetime exemption assuming no intervening legislative changes.

Preparing to be an Executor

The role of an executor can be extremely time consuming and stressful. However, there are steps that can be taken now, while your friend or loved one is still living, that can reduce the stress and complications that come with the job. This article covers 9 steps.

Estate Planning – It’s a Matter of Trust

Early estate planning is one way to ensure that as you age, your assets will be protected and managed with your best interests in mind. One common method is the creation of a revocable living trust (“living trust”).

Grantor Trust … The Good and the Bad

Grantor Trusts

One type of trust that has become more common in recent years is the Intentionally Defective Grantor Trusts. These trusts are treated as “grantor trusts” for federal income tax purposes under the federal tax code.