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Ask Lane Your Own Question
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10937
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Is a NYS Fiduciary pay state taxes?

Customer Question

Is a NYS Fiduciary pay state taxes?
Submitted: 11 months ago.
Category: Tax
Expert:  Lane replied 11 months ago.

Hi - Yes, you can find the forms you'll need here: https://www.tax.ny.gov/forms/fiduciary_cur_forms.htm

Expert:  Lane replied 11 months ago.

Hi,

...

I’m just checking back in to see how things are going.

...

Did my answer help?

...

Let me know…

...

Thanks

Lane

...

I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security & Medicare, estate, corporate & tax advice since 1986

Customer: replied 11 months ago.
YOU NEVER ANSWER MY SECOND QUESTION, I had paid for, one day went by without an answer.My question was:
How can I determine the mandatory required withdrawal from pension, retirement and social security funds. I need you to walk me true
Expert:  Lane replied 11 months ago.

Apparently you have asked this as a separate question ... let me paste everything from above

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Country relating to Question:United States

State (if USA):New York

Customer

Is a NYS Fiduciary pay state taxes?

11 Mar 2016, 3:25 PM

Me

Hi - Yes, you can find the forms you'll need here:https://www.tax.ny.gov/forms/fiduciary_cur_forms.htm

11 Mar 2016, 3:28 PM

Me

Hi,

...

I’m just checking back in to see how things are going.

...

Did my answer help?

...

Let me know…

...

Thanks

Lane

...

I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law& Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPSdesignations. - I’ve been providing financial, Social Security & Medicare, estate, corporate & tax advice since 1986

12 Mar 2016, 1:54 PM

Customer

YOU NEVER ANSWER MY SECOND QUESTION, I had paid for, one day went by without an answer.

My question was:
How can I determine the mandatory required withdrawal from pension, retirement and social security funds. I need you to walk me true

Expert:  Lane replied 11 months ago.

I answered you 3 minutes later ... and you've now come back over 24 hours hours later.. and alluded to some other question that you've asked.

...

Now that you've asked that second question on THIS question thread let me walk you through it

Expert:  Lane replied 11 months ago.

Social security is what it is, so to speak ... it must be received (or deposited by direct deposit) there is no minimum.

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The same thing for monthly pensions... monthly pensions that pay based on years of service, etc. must be taken as they're paid.

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for 401(k)s and IRA type plans (plans that carry a balance) you must start taking distributions at age 70 and 1/2.

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You use your year end (dec 31) balance from the previous year and then take it out over your life expectancy by using an IRS provided table (OR you can use a calculator such as this one: https://www.calcxml.com/do/qua07

Expert:  Lane replied 11 months ago.

Did you see my answer to your second question?