Views by IRS on Revocable and Irrevocable Taxation

5 Tips for Maintaining Your Nonprofit’s Tax-Exempt Status
5 Tips for Maintaining Your Nonprofit’s Tax-Exempt Status

Financial, Taxes, Views by IRS on Revocable and Irrevocable Taxation

5 Tips for Maintaining Your Nonprofit’s Tax-Exempt Status

Shivon Patel2019-04-01T03:11:48-04:00April 8th, 2019|

Losing your tax-exempt status could have severe consequences for your nonprofit organization. Whether you are a member of staff or sit on the board of a nonprofit, it’s important to familiarize yourself with tax-exempt status and what could put that status at risk. Below, we outline 5 ways you can keep your tax-exempt status safe [...]

Irrevocable and Revocable Trusts,Taxes and Florida Facts, Pt. I
Irrevocable and Revocable Trusts,Taxes and Florida Facts, Pt. I

Irrevocable Trust, Principal Law Firm News, Views by IRS on Revocable and Irrevocable Taxation

Irrevocable and Revocable Trusts,Taxes and Florida Facts, Pt. I

Shivon Patel2018-06-04T01:36:37-04:00June 2nd, 2018|

Irrevocable and revocable trusts are taxed differently, which makes sense since they are different entities. An irrevocable trust is a trust that “cannot be modified, amended or terminated without the permission of the grantor's named beneficiary or beneficiaries.” In contrast, as indicated in our previous blog, a grantor in a revocable trust can alter or [...]