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.
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.
A CRT is a split-interest trust, meaning there are two beneficiaries: an individual income beneficiary
and a charitable remainder beneficiary.
For a CRT, you name an income beneficiary
or beneficiaries, who will receive cash flow for a specified time period.
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.
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.
Jake and Lauren become the grantors and the co-trustees of the trust for John, the income beneficiary
Under what circumstances might the death proceeds be includable in the estate of the life income beneficiary
of a life insurance trust?
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
gt; The income can be distributed (per the terms of the trust) to the income beneficiary
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.
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).