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Does a Trust Need an EIN for Tax Purposes?

Does a Trust Need an EIN for Tax Purposes?

A trust can be an important piece of an estate plan. Whether you are creating a trust or administering one as a trustee, it is important to understand whether and when you need an EIN. In North Carolina, most revocable living trusts do not need a sep… Read More
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The Truth About Death Taxes: Why 99% of North Carolina Families Aren’t Affected.

The Truth About Death Taxes: Why 99% of North Carolina Families Aren’t Affected

When a person dies, their estate generally must pass through probate. Probate is the court-supervised process of validating the deceased person’s Will, appointing a personal representative of the estate, paying debts and taxes, and distributing rem… Read More
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Say bye-bye to passive activity losses: A possible past-time for LLCs and LLPs

Limited liability companies (LLCs) and limited liability partnerships (LLPs) are well ingrained as two of the preferred techniques used by estate planning professionals. Both LLCs and LLPs offer significant advantages that many other techniques do no… Read More
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Categories: Articles, Income Tax