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BK-CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 933
Experience:  Owner of a CPA firm
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how much of my income tax do i have to give the trustte case

Customer Question

how much of my income tax do i have to give the trustte? case #XXXXX
Submitted: 6 years ago.
Category: Tax
Expert:  BK-CPA replied 6 years ago.

None. Your income tax is given to the IRS / US Government, state governments, and/or local governments, but certainly not the trustte?


I suggest you rethink your question... Administrators of trusts may be entitled to reasonable compensation for their services.

Edited by BK-CPA on 5/3/2010 at 6:23 PM EST
Customer: replied 6 years ago.
how much do i need to bay?
Customer: replied 6 years ago.
Relist: Incomplete answer.
Expert:  BK-CPA replied 6 years ago.

I have no idea, nor will anyone here, given the amount of information you've given us. What do you mean by case 10-11022? If that is some sort of a reference to a justanswers question, I'm not aware (I've not such powers).


Let me help you, for example:


I have a trust. It is managed by a trustee who charges a fee. What is a reasonable fee for trust services?


Answer: It depends on your trust (how complex of a trust). Most administrators will charge an hourly rate and give you an estimate before you contract with them, and if not, you should ask for that information before contracting.

Expert:  BK-CPA replied 6 years ago.

ie. - trusts have income tax brackets, just like people and corporations do.