Updated July 21, 2015 Estate and Trust Accounting Chicago Illinois Almost twenty years ago, I picked up my first estate and trust accounting case. I went to a small private high school on Chicago’s North Side, and one of my friends father’s had just...
Updated July 24, 2015 Estate and Trust Tax Rates Chicago Illinois Tax Rate Schedule for Trusts and Estates For Tax Years beginning in 2011 If Taxable Income is Over But Not Over The Tax Is Of The Amount Over $0$2,30015%$0 2,3005,450345 + 25%$2,300...
Updated July 24, 2015 Estate Tax Credit Chicago Illinois What is the Estate Tax Credit? The estate tax credit in 2014 is over $5,000,000. Estates valued under this amount are not required to file form 706, the estate tax return. But it’s...
Updated July 22, 2015 What is a Trustee Chicago illinois A trustee of a trust is a legal entity who has been given authority to administer property for the benefit of beneficiaries. There may be more than one trustee, as is directed by the trust document...
Updated July 22, 2015 Trust Tax Return Chicago Illinois IRS Form 1041 is the information return used to report income on trusts. Any trust which has taxable income or that receives more than $600 in a given tax year is required to file an income tax...
