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Question

hello. i have a trust fund and also my own off shore account. if i earnt 200,00 in the year from bonds....do i have to put some aside to pay for tax. or can i just the amount i pay for tax after by requesting thoise funds from the trust?/

Submitted: 227 days and 10 hours ago.
Category: Tax
Value: $54
Status: CLOSED

Accepted Answer

Hello zidane,

You will be much better off to put some of that money aside that you need to pay those taxes on the earnings. If you request additional funds from the trust later in the year to cover the taxes, then the amount that you take from the trust becomes additional taxable income to you.

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Expert: Merlo
Pos. Feedback: 99.8 %
Accepts: 5087
Answered: 3/26/2009

Accountant

25+ years tax consulting. Specializing in returns for US citizens living abroad

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