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227 tax time Q&A with an accountant

Dev Raga Personal Finance

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Can I Just Distribute Funds to Kids Under 18?

It just depends on who is listed on that trustee and what othe powers associated to the trustee that's listed with that trusteed. Sure an as also depends on the individual tax rates of thse beneficiaries. Your 18 month or totaler can't have an incomeof a million dollars, ecause, i think after that, after fourhundred and 16 dollars, i think it's like 50 to 60 % tax rat or something ridiculous. But now does that mean, let's say a coming back to the scenaria, five beneficiaries, all all over the age of 18? Does the money,let's say i'll distribute 20 thousand dollars to each each person who's a beneficiary,

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