thereisnospoon
Gold Member
Then contact your US House member and US Senators and urge them to simplify the Us Tax code.When trusts are used for legitimate business, family, or estate planning purposes, either the trust, the beneficiary, or the transferor of assets to the trust will pay the tax on income generated by the trust property. Trusts cannot be used to transform a taxpayer's personal, living, or educational expenses into deductible items, and cannot seek to avoid tax liability by ignoring either the true ownership of income and assets or the true substance of transactions.
Which is a corporation.
Which don't pay low single digit rates.
And can't deduct your living expenses off their taxes.
Actual tax ÷ total income? Yes, they do.
You can't, the rich can. Why do you think Bill Gates and I are Nevada Corporations.
Short of that, it's all whining.