Tag Archives: tax savings
With 2025 well underway, certain calendar-year trusts and estates still have a small window of opportunity to reduce their 2024 income tax liabilities and those of the trusts’ beneficiaries provided they act before March 6, 2025. Under a special IRS rule, trustees have 65 days after the start of a new year to distribute trust […]
The introduction of ABLE accounts in 2015 has helped millions of people with disabilities and their families save as much as $100,000 for qualifying living expenses without any risk of losing government benefits, such as Supplemental Security Income (SSI). Contributions to these accounts grow tax-free while distributions used to pay for qualifying disability expenses (QDEs) […]