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.
Service: Tax & Wealth Planning for Individuals & Families
LBMC wealth advisors provide affluent families and individuals coordinated tax preparation, retirement planning, estate and wealth transfer services. Read on.
The taxation of passthrough income was among the many areas… Read more »
The TCJA didn’t eliminate like-kind exchanges; however, it did eliminate tax-deferred like-kind exchange treatment for exchanges of personal property after December 31, 2017.
To maintain the incentive for individuals to own and operate a pass-through entity, the Act introduced the new Section 199A Qualified Business Income Deduction.
As we have seen the real estate market fluctuate over… Read more »
Creating an organizational system for important documents will help the… Read more »
Do you know the state income tax implications of the… Read more »
The 2018 Tax Cuts & Jobs Act ushered in quite… Read more »
A surviving spouse will have many tax-related issues to deal… Read more »
The IRS is reminding taxpayers to be prepared for hurricanes and other natural disasters this season. This article highlights some important tips.