Tag Archives: deduct
Tax Benefits of a Qualified Disability Trust
The IRS classifies some special needs trusts as Qualified Disability Trusts, and these trusts have certain tax benefits . QDTs may claim a personal exemption on their federal income tax returns. Please note, as part of the Tax Cuts and Jobs …
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Income Taxation of Special Needs Trusts, Part 1
In your future planning for your child with special needs, remember to consider income taxation of special needs trusts. If you set up a special needs trust (“SNT”) with another law firm, the attorneys may not have discussed how you …
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