What is a Grantor Letter?
When delving into trusts, one important topic is taxes, the management of which is often a key consideration for creating them. The grantor is the individual who creates the trust, which is managed by a trustee, who is a different person or entity. The trustee should be a neutral third party who oversees the trust’s assets on behalf of the beneficiary, who is designated to receive distributions from the trust.
How Do I Determine the Value of My Mineral Rights?
The term “mineral rights” means the entitlement to use and profit from any minerals underneath a specific property. Mineral rights may be distinct from surface rights (the right to the surface of the land) and may have a different owner. Minerals may include:
How Much Do Property Managers Charge?
If you've recently invested in a rental property and want to hire a property manager to collect rents, screen tenants, and handle maintenance requests, knowing how much property managers charge should help you avoid overpaying. Keep in mind, however, that the answer to this question depends on the property manager or management firm you hire as well as the tasks they are being hired to perform. Here's a more detailed guide on how much property managers typically charge.
How Do I Get Form 1099R?
Any time you earn any amount of income that doesn’t fall under the “wages and salaries” category, the IRS wants to know about it. The 1099 form series reports various types of non-employment income to the IRS, such as contract payment (1099-MISC or 1099-NEC) or interest income (1099-INT).
How Are Capital Gains Taxed on Stock?
Selling a stock for a profit creates a realized capital gain. These gains are taxable. How much in taxes an investor might pay is dependent on their income and the holding period of the asset. Some investors use this information for more tax-efficient stock investments. Let’s see how it works.
Do I Need to File Form 8997?
Form 8997 is used to report transactions related to qualified opportunity funds. The form is filed each year that an investor has capital gains deferred in a qualified opportunity fund. In this article, we’ll go through what’s involved with filling out Form 8997 and who should file it.
Are Retirement Planners Worth It?
Planning for a secure, comfortable retirement is a nearly universal aspiration. For most people, the idea of living in their retirement without worrying about finances is a top priority. But for many, doubt over how to achieve that goal is troubling. For example, you may have questions about your retirement assets. Do you have enough saved, and is it invested appropriately? For some investors, retirement's special tax and management challenges lead them to rely on professionals for advice.
Can You Sell a House with Tenants-in-Common?
A Tenancy in Common (TIC) arrangement allows multiple individuals to share ownership rights to a property. While a TIC arrangement may allow you to own high-quality real estate for less start-up capital, complications can arise when you decide to sell the shared property.
Is Real Estate an Inflation Hedge?
Inflation can destroy the value of an asset that doesn’t increase as inflation increases. This is especially true in depreciating assets such as cars, bicycles, and boats. The asset needs to have some underlying feature that allows it to increase when inflation increases. When that happens, the asset acts like a hedge, offsetting the value-decreasing effects of inflation.
How Can I Offset or Defer the Sale of Capital Gains on a Business?
are a number of ways to save on capital gains taxes when selling a business or asset. We're going to look at two tax-advantaged ways to structure the sale of a business. One is called the deferred sales trust (DST), and the other is the charitable remainder trust (CRT). Both offer capital gains tax advantages but serve different goals.
