Understanding Fiduciary Income Taxes and Returns
When a loved one passes away, the topic of fiduciary income taxes often arises, bringing with it a host of questions and concerns. As estate planning attorneys practicing in Massachusetts, New Hampshire, and Florida, we aim to demystify this complex subject and provide you with essential information to navigate such challenging times. What is Fiduciary Income Tax? Fiduciary income tax is a tax imposed on income earned by estates and trusts. When an individual passes away,