When a loved one passes away, a family member or close friend is usually named as the Executor of the decedent’s estate in the decedent’s Last Will and Testament. Managing the practical duties involved in administering an estate with simultaneously grieving the loss of a loved one can be challenging. If you are in this position, one of your important responsibilities as Executor will be to make sure the estate pays any federal gift and estate taxes due. To help you get started, a Grand Forks … [Read more...] about What Do I File with the IRS If I Am the Executor of an Estate?
The Kiddie Tax is No Child’s Game
If you set up a trust or other investment vehicle for your child, that child could incur taxes at a rate much higher than anticipated. The Kiddie Tax was enacted to prevent parents from transferring investments to the name of their child or children to take advantage of that child’s lower tax rate. Read on to learn more. … [Read more...] about The Kiddie Tax is No Child’s Game
