This Valentine’s Day – Think … Trust Income Tax Savings!

Valentine’s Day is synonymous with hearts and flowers, but for those with non-grantor trusts, there’s another symbol that could be associated with it: dollar signs.

Two dogs "smile." One wears a headband with red hearts, and the other has red heart-shaped glasses on.
(Image credit: Getty Images)

Trusts typically have the highest marginal tax rates in the United States tax system, but there are ways to save through good tax planning and thoughtful timing. One very important date for a tax-saving opportunity is fast approaching, and the holiday I use to remind myself to look into capitalizing on it every year happens to be Valentine’s Day.

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John M. Goralka
Founder, The Goralka Law Firm

Founder of The Goralka Law Firm, John M. Goralka assists business owners, real estate owners and successful families to achieve their enlightened dreams by better protecting their assets, minimizing income and estate tax and resolving messes and transitions to preserve, protect and enhance their legacy. John is one of few California attorneys certified as a Specialist by the State Bar of California Board of Legal Specialization in both Taxation and Estate Planning, Trust and Probate.