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. My friend and colleague Tereina Stidd, an estate planning expert, has commented on this tax. Read on to learn more.
- How Do You Balance Inheritances? - January 25, 2023
- How to Avoid a Challenge of Your Will - January 23, 2023
- Social Security and Retirement Planning - January 21, 2023