Income beneficiary

One who receives income from a trust.

References in periodicals archive ?

Although the S corporation income of a QSST is taxed to the individual income beneficiary, capital gain on the sale of the S corporation stock is taxed at the trust level.

Using qualified Subchapter S trusts (QSSTs)

Upon Schaefer's death in 2007, one of his sons became income beneficiary of CRUT 1, and another son became income beneficiary of CRUT 2.

Tax Court determines value of remainder interest of a NIMCRUT: the remainder interest must be calculated assuming annual distribution amounts equal to the greater of 5% or the fixed percentage stated in the trust instrument

A CRT is a split-interest trust, meaning there are two beneficiaries: an individual income beneficiary and a charitable remainder beneficiary.

The CRT: Give to Charity, Supplement Retirement Income

For a CRT, you name an income beneficiary or beneficiaries, who will receive cash flow for a specified time period.

Trim steep new taxes with a charitable trust

Otilia Bujor, tax manager at PKF Finconta, says Romania's 16 percent taxation rate for the income of non-residents can be lowered, if a double taxation avoidance treaty is closed between Romania and the fiscal residence location of the income beneficiary, as long as this person owns a fiscal residence certificate.

Non-residents taxable income in Romania will now also include services from abroad

resident taxpayer who was the income beneficiary of a series of trusts was permitted to avoid gift and generation skipping transfer ("GST") taxes through disclaiming his interests in the trusts even though he had received distributions of income in the past.

Estate planning/taxation

Jake and Lauren become the grantors and the co-trustees of the trust for John, the income beneficiary.

Asset protection strategies--part II

Under what circumstances might the death proceeds be includable in the estate of the life income beneficiary of a life insurance trust?

Life insurance trusts

The traditional "income and principal" trust directs that the trustee pay all trust income to the income beneficiary, with corpus distributed to the remainder beneficiaries upon the death of the income beneficiary (e.

Total return unitrust

gt; The income can be distributed (per the terms of the trust) to the income beneficiary.

Credit shelter trusts: it's time to consider an annuity

For instance, principal payments on a mortgage secured by the rental real estate and capital improvement expenses for the real estate are principal charges; (3) thus, the income beneficiary would receive the rental income without reductions for these expenses.

Things that may surprise you about Florida's Principal and Income Act and related accounting law

If the annuity format is selected, a fixed dollar amount-equal to a percentage of the initial trust contribution- is paid annually to the income beneficiary (in this case, the SNT for the child with a disability).

Charitable remainder and special needs trust: combo: an example of a win-win-win situation for parent, child, with a disability and charity