Reply to comment

I have $5000.00 per month rental income, pay the IRS $2000.00 quarterly and come tax time , I claim this as income and usually get a $1500 to $2000 refund. If I put this property in a Living Trust with my wife and myself as trustees and pay myself a monthly salary, how will this effect my taxes? I was told the Trust would pay taxes on this income and then I would pay taxes on my income. This doesn't sound right. Why would I want to do this? Right now we both have wills giving each other every thing

Reply

The content of this field is kept private and will not be shown publicly.