Trusts and Double Taxation – The Burns Firm – Advisors of Complex Financial Matters

Poor Planning Can Lead to Double Taxation of Trusts

July 27th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Services, Tax, Tax Advisor, Tax Planning, The Burns Firm, Trust Fund|Tags: CPA Dallas, cpa near me, Federal Tax on Trusts, How to determine if there will be double tax on trust, How to minimize double taxation of a trust, State Tax on Trusts, tax, tax advisor, The Burns Firm, Trusts and Double Taxation|

Different states have different rules for determining whether a trust is a "resident" for income tax purposes. State tax liability can depend on the location of settlors, trustees or beneficiaries. [...]