Patrick Islip, Islip.net, Certified Public Accountants, Sacramento and Auburn California CPA's
Distinguishing Between Legitimate and Sham Trusts
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Written by Patrick Islip, CPA

This is to alert you to the availability of legitimate trusts for tax and estate planning and to steer you away from the use of trusts identified by the IRS as sham trusts, i.e., trusts that don't produce claimed tax benefits and can trigger interest and penalties.

Legitimate trusts that may properly be used to accomplish specific tax and estate planning objectives include:

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What is Fiduciary Income?
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Written by Sacramento Tax Helper CPA

 

Trust accounting income is the income and expense items that are used to determine the amount, certain beneficiaries will receive from the trust each year. Generally speaking, it is all revenue less all expenses paid.

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