Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 07-13-2009, 05:03 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
What is Trust Accounting?

Trust accounting is the "accounting of all items of income and expenses that are used to determine the amount that certain beneficiaries will receive from the trust each year." Really, it is equivalent to all revenues received by the Trust minus all expenses incurred related to the production and maintainence of the Trust.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Trust principal distributed free from trust taxnewbie Trusts and Gift Tax Returns 0 03-12-2009 12:44 PM
Accounting after LLC taxed as C-corp election labtech123 Limited Liability Company 0 01-28-2009 01:26 PM
Final Accounting for dissolving an S corporation rubyk1 S-Corporation 1 03-09-2008 04:37 PM
How long must I keep my accounting and tax records etc? chrisk C-Corporation 0 05-16-2007 09:06 AM
What are the minimum accounting records required by IRS? Leah Limited Liability Company 2 05-14-2007 04:16 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.