Many families set up trusts to provide for family members in need of financial assistance or to further their own estate planning goals. Taxation of trusts can become extremely complicated, and the structure of a family trust plays a major role in how the trust gets taxed. Those who want to avoid complications can generally include provisions that will keep things simple for at least a portion of the trust’s existence.
The tax code regarding trusts can be confusing. At South Shore Tax & Bookkeeping we can help you make sure your family trust is following the IRS guidelines. You can leverage us as your tax experts when it comes to decisions related to the trust.
