Assess the effect of an irrevocable trust on the gift tax and future estate taxes.

Explain the differences between something being tax-deferred or tax-exempt. Which retirement plan, that we discussed, is tax-exempt?

Can you explain the choices an executor of an estate has in determining the values of assets included in the estate for tax purposes.

Which of the following accurately describes the tax implications of investing in real estate and rental properties? a) Real estate investments are not subject to taxation. b) Rental income is tax-exempt. c) Rental income is subject to taxation, and expenses related to real estate investments may be deductible. d) Rental income is taxed at a fixed rate determined by the IRS.

How else would you try comparing the income taxation of estates and accepts?

What will be the effect after To complete a successful tax-deferred exchange for the investor?

Explain and account for the distinction between principal and income in the context of estate and trust accounting.

What is the charitable contributions?

Which is true regarding a like-kind exchange? Group of answer choices Personal-use assets qualify. Stocks and bonds qualify.  Non like-kind property is considered “boot.” A taxpayer must elect for the like-kind provisions to apply.

Explain what qualifies a educational expense for the purposes of educational tax credit?