Tax increases for the affluent have dominated headlines recently. But don’t overlook the impact of higher taxes on trusts. The income thresholds for trusts are extremely low, so it’s important for taxpayers at all income levels to consider the potential impact on their estate plans.
If you rent property to one of your own businesses, you probably understand that you’ll risk catching the eye of the IRS. That’s exactly what happened to one taxpayer who leased property to his wholly owned S corporation. The good news?Read More