Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Need advice from future retirees or retired.
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Red Headed Stranger" data-source="post: 5412899" data-attributes="member: 90351"><p>The only downside to a trust for your kids is if the money remains in the trust (does not pass through upon your death), the tax rate in 2022 for trusts is 37% on income in excess of $13,450. That is much higher than most individual tax rates. </p><p>In 2022 the federal government taxes trust income at four levels:</p><p></p><ul> <li data-xf-list-type="ul">10%: $0 – $2,750</li> <li data-xf-list-type="ul">24%: $2,751 – $9,850</li> <li data-xf-list-type="ul">35%: $9,851 – $13,450</li> <li data-xf-list-type="ul">37%: $13,451 and higher</li> </ul></blockquote><p></p>
[QUOTE="Red Headed Stranger, post: 5412899, member: 90351"] The only downside to a trust for your kids is if the money remains in the trust (does not pass through upon your death), the tax rate in 2022 for trusts is 37% on income in excess of $13,450. That is much higher than most individual tax rates. In 2022 the federal government taxes trust income at four levels: [LIST] [*]10%: $0 – $2,750 [*]24%: $2,751 – $9,850 [*]35%: $9,851 – $13,450 [*]37%: $13,451 and higher [/LIST] [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Need advice from future retirees or retired.
Top