Tagged with: "Fair Market Value"
A family trust is created as either an inter vivos trust, established during the lifetime of the donor, or a testamentary trust, established in connection with a will. The retained income in an inter vivos trust has always been and will continue to be taxed at the flat top-tax rate; however, testamentary trusts receive favorable […]Continue reading
For self-employed professionals — such as doctors, dentists, lawyers and architects — the tax savings from using a personal or private corporation are well known. By incorporating their business, they can either retain earnings or pay dividends, thus managing the amount and timing of personal income taxes. A less well known but also effective tax-efficient […]Continue reading