Estates and Trusts

For many, their trust gives them a sense of security in knowing that their loved ones or a charity which they hold close to their heart, will be taken care of beyond their days. They may not realize that depending on the type of trust, they may end up owing more on their personal taxes, or worse, pay taxes on the trust level itself which has a maximum tax rate of 37% starting at just $13,050 of qualified income (in 2021). Many times, paying tax on the trust level is avoidable by following certain guidelines and regulations. Find out if there is anything you can do to avoid paying tax at trust-rates and make sure your trust returns are done right!