As an S-Corporation, there are indeed some unique aspects to your organization, but all of these have to do with tax reporting and filing. When you break down the actual organizational structure, expectations of the business, it is the same as any other type of corporation. Whether you are an S-Corporation or a C-Corporation or […]
As an S-Corporation, there are indeed some unique aspects to your organization, but all of these have to do with tax reporting and filing. When you break down the actual organizational structure, expectations of the business, it is the same as any other type of corporation. Whether you are an S-Corporation or a C-Corporation or […]
Did you realize that, as a non-profit organization, you are very likely to still need to get an employer identification number Tax ID (EIN)? Even as a tax-exempt non-profit organization, the need will still exist. You will require an employer identification number to do a lot more than just file taxes on an annual basis. […]
Did you realize that, as a non-profit organization, you are very likely to still need to get an employer identification number Tax ID (EIN)? Even as a tax-exempt non-profit organization, the need will still exist. You will require an employer identification number to do a lot more than just file taxes on an annual basis. […]
Does a Guardianship Need a Tax ID (EIN) Number?
13
Feb
2020
A guardianship is defined as: when an individual takes charge of controls on behalf of an individual who cannot control their own finances, usually that of a minor. Guardianship is both a financial and a legal responsibility, and it requires some additional consideration regarding financial accounts. For the most part, guardians do not need a […]
A guardianship is defined as: when an individual takes charge of controls on behalf of an individual who cannot control their own finances, usually that of a minor. Guardianship is both a financial and a legal responsibility, and it requires some additional consideration regarding financial accounts. For the most part, guardians do not need a […]
What is a Guardianship?
13
Feb
2020
Guardianship occurs when an individual takes control over the financial situation and/or the living situation of an individual who cannot take care of themselves. Also known as a conservatorship, guardianship empowers an individual to pay bills, collect money, and otherwise make financial decisions on behalf of another person. It’s critical that a guardian ensure that […]
Guardianship occurs when an individual takes control over the financial situation and/or the living situation of an individual who cannot take care of themselves. Also known as a conservatorship, guardianship empowers an individual to pay bills, collect money, and otherwise make financial decisions on behalf of another person. It’s critical that a guardian ensure that […]
Does a Custodianship Need a Tax ID (EIN) Number?
13
Feb
2020
It is easy to confuse a Custodianship with a Guardianship, but the two are quite different. Guardians take care of assets for individuals, usually an older family member taking care of a younger family member’s assets. Custodianship is when an entity, often a financial enterprise such as a bank, takes control over an individual’s assets […]
It is easy to confuse a Custodianship with a Guardianship, but the two are quite different. Guardians take care of assets for individuals, usually an older family member taking care of a younger family member’s assets. Custodianship is when an entity, often a financial enterprise such as a bank, takes control over an individual’s assets […]
What is a Custodianship?
13
Feb
2020
Custodianship occurs when an individual or other entity takes control over another individual’s finances. Often, this is in the form of a Trust Account, which might need a separate EIN. Custodianship often happens when children inherit sums of money that they can’t manage on their own. The custodian will manage their money in their best […]
Custodianship occurs when an individual or other entity takes control over another individual’s finances. Often, this is in the form of a Trust Account, which might need a separate EIN. Custodianship often happens when children inherit sums of money that they can’t manage on their own. The custodian will manage their money in their best […]
Yes, every charitable remainder unitrust needs a tax ID in order to maneuver a Trust bank account or to file it’s federal taxes; also because it is a separate entity from the original grantor. The grantor puts an asset into a charitable remainder unitrust, and then the trust holds onto the money and manages it […]
Yes, every charitable remainder unitrust needs a tax ID in order to maneuver a Trust bank account or to file it’s federal taxes; also because it is a separate entity from the original grantor. The grantor puts an asset into a charitable remainder unitrust, and then the trust holds onto the money and manages it […]
What is a Charitable Remainder Unitrust?
11
Feb
2020
A charitable remainder unitrust is defined as a method by which a donor can transfer an asset into a trust account controlled by a charity. The charity will manage the asset and the donor will gain the income from that asset. Once the donor passes on, the asset transfers to the charity. Charitable remainder unitrusts […]
A charitable remainder unitrust is defined as a method by which a donor can transfer an asset into a trust account controlled by a charity. The charity will manage the asset and the donor will gain the income from that asset. Once the donor passes on, the asset transfers to the charity. Charitable remainder unitrusts […]
As a Partnership, you may be wondering if or when you need to obtain a Tax ID (EIN) number. As a Partnership, you could be in a situation where you are a company with just you and your partner or partners. You may not have any official employees. Does this mean that you do not […]
As a Partnership, you may be wondering if or when you need to obtain a Tax ID (EIN) number. As a Partnership, you could be in a situation where you are a company with just you and your partner or partners. You may not have any official employees. Does this mean that you do not […]
A charitable lead unitrust is a special type of trust that provides income to a charity for the duration of its existence. Once the charitable lead unitrust expires, the assets can be inherited by a beneficiary. A charitable lead unitrust is used as a form of wealth management, so an individual is able to retain […]
A charitable lead unitrust is a special type of trust that provides income to a charity for the duration of its existence. Once the charitable lead unitrust expires, the assets can be inherited by a beneficiary. A charitable lead unitrust is used as a form of wealth management, so an individual is able to retain […]