are fiduciary fees subject to 2 floor?
319827
Costs which are paid or incurred in connection with the administration of an estate or trust and which would not have been incurred if the property were not held in an estate or trust are not subject Page 2 -2- Deductibility of Fiduciary Expenses May 12, 2014 to the two percent floor,2 and are therefore fully ...
887128
The fees are four percent of the first $100,000 of the estate, three percent of the next $100,000, two percent of the next $800,000, one percent of the next $9,000,000, and one-half percent of the next $15,000,000.
824036
There's also no impact on your TFSA room. The account does not pass through their estate and that means there's no probate payable. If your spouse instead named you as beneficiary of their TFSA, the value of the account as of their date of death can be paid to you or to your TFSA tax-free.
952137
They are under trust law properly chargeable against income. ... 'You cannot deduct costs, charges and expenses that you incur for the benefit of the whole trust. This includes legal expenses, investment advice or the cost of changing trust investments. Under trust law such expenses are properly chargeable to capital.
68507
Under prior tax law, a fiduciary could deduct most expenses incurred by an estate or trust against the income. ... Therefore, under the TCJA, estates and trusts can no longer deduct investment advisor fees.
1429295
Their commission for us is 20%, which initially seemed a lot to me, but I think they can probably charge more than we could on our own. We thought we would give them a chance for a couple of years, we are remote from our let, so it seemed sensible, plus we have limited time at the moment to manage it ourselves.
1165296
Condo fees aren't optional: they're the law. In Quebec, they're governed by the Civil Code of Quebec, while in Ontario, by the Ontario Condominium Act. Co-owners must contribute their share of expenses to help ensure the building is properly maintained for everyone.
449667
Regulation D and Wells Fargo limit certain types of withdrawals and transfers that can be made from your savings account to a combined total of six (6) per monthly fee period. If the limit is exceeded, an excess activity fee for each withdrawal or transfer over the limit will be assessed.
437617
A: There are tax deductions for certain types of fees related to your finances and investments. Line 221 of your tax return – carrying charges and interest expenses – is for claiming management or safe custody fees, investment counsel fees, and similar expenses. ... Fees for your investments may be deductible, Patti.
558203
The bottom line is this: It is very possible your taxable gain was added twice. If you have employee stock options vesting in the future, make sure to check the 1099 issued by your custodian. In all likelihood you will need to adjust your cost basis to avoid a potentially costly mistake.
1456563
The charges, commonly 2 cents per share, are intended to cover the cost of coordinating overseas investments. For ADRs that include this provision, the broker can levy the charge at any time, but no more than once a year. Your broker should be able to give you a list of ADRs with these fees.
165594
In most cases, the net sale proceeds (after payment of the real estate commission, legal fees, taxes, any mortgage, and so on) will be deposited in your bank account on the next business day. In a few cases, the funds may be available for deposit late on the day of closing but this is not usually possible.
1427930
The normal legal and professional fees incurred on the renewal of a lease are also allowable if the lease is for less than 50 years. But any proportion of the legal etc costs that relate to the payment of a premium on the renewal of a lease are not deductible.
271810
A: There are tax deductions for certain types of fees related to your finances and investments. Line 221 of your tax return – carrying charges and interest expenses – is for claiming management or safe custody fees, investment counsel fees, and similar expenses.
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However, new law changes impact deductibility of certain personal legal fees. Attorney's fees that have been deductible (for 2017 and earlier years) as a miscellaneous itemized deduction subject to the 2%-of-AGI floor will no longer be deductible at all starting in 2018.
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For our investment accounts, we charge an annual advisory fee of 0.25% on all assets under management deducted monthly. * Wealthfront does not charge any account-opening fees, withdrawal or account-closing fees, trading/commission fees, or account transfer fees.
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If a beneficiary is named, the value of a segregated fund or GIC will not form part of the estate and will not be subject to probate because the death benefit will be paid directly to the beneficiaries. As a result, probate, executor, legal and accounting fees are avoided.