Section 645 of the Internal Revenue Code provides for an irrevocable election to treat a qualified revocable trust as part of the decedent's estate for federal income tax purposes. If a Section 645 election is made by the executor of the estate and the trustee of a qualified revocable trust, several tax advantages that are available to an estate, become available to a trust; advantages that would not have been available to the trust if not for ... Read More
Business Organizations that are Tailor-Made for the Client
When starting up a business, one of the first decisions to be made by a business owner is how the business should be structured: sole proprietorship, partnership (with two or more owners), corporation (subchapter C or S), or limited liability company. In making the choice, certain factors need to be taken into account: current or potential size and nature of the business, level of control that the owner(s) desire, business’s risk, vulnerability ... Read More
