NattyBoh
Ultimate Member
- Jul 29, 2010
- 2,030
I had a few questions that differed from my other thread, and hoping to pull in new eyes on my thread. Mainly because it goes a different route...
I had to get an EIN when I applied at M&T bank, which I did.
Here are my questions.
1. I used Jeremy Robinson ( Rusty ) to do my Trust. He told me that I should get an EIN to make my trust its own entity ( I believe ), which I did. Now I see that some people recommend to use my SS#.. Why?
2. I havent found any GOOD hard evidence that one would need to claim the trust on their taxes. If the trust never did any dealings with money for profit, buying, selling etc then why would one need to?
3. Does anyone else here use an EIN and claim on their taxes?
Any and all help into this is appreciated.
p.s. Also, I did some looking around online and found that some trusts have wording in the Trust that states all money made/profits will be paid by the Trustee ( me ) on my normal taxes/claims. Assuming that means that I would not need to file a separate form for the Trust, thus allowing me to roll it into my normal yearly tax claims.
I had to get an EIN when I applied at M&T bank, which I did.
Here are my questions.
1. I used Jeremy Robinson ( Rusty ) to do my Trust. He told me that I should get an EIN to make my trust its own entity ( I believe ), which I did. Now I see that some people recommend to use my SS#.. Why?
2. I havent found any GOOD hard evidence that one would need to claim the trust on their taxes. If the trust never did any dealings with money for profit, buying, selling etc then why would one need to?
3. Does anyone else here use an EIN and claim on their taxes?
Any and all help into this is appreciated.
p.s. Also, I did some looking around online and found that some trusts have wording in the Trust that states all money made/profits will be paid by the Trustee ( me ) on my normal taxes/claims. Assuming that means that I would not need to file a separate form for the Trust, thus allowing me to roll it into my normal yearly tax claims.