Some Practical Risk Management Steps for Any Land Trust

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I. Perpetual Calendar—Make Sure You Have Time for Reasoned Decisions—Stop trying to remember so much, reduce your stress, and avoid the risk of missing an important date. Every item that you can record onto a perpetual calendar is an item that you don’t have to keep alert to and worry about remembering. What goes into a perpetual calendar? Every time-related event your land trust has in its future. The following list is a work in progress and is necessarily incomplete as to specific land trusts and varying state requirements.

Federal filings (plus tickle dates to send to/get from CPA, attorney) -

- Form 990 + extension dates (plus add time for board meeting to review)

- Form 8283 + extension dates

- Federal Unemployment Tax Return (FUTA)

- Form 941 Employer’s Quarterly Federal Tax Return

- Form 945 Annual Return of Withheld Federal Income Tax

- 1096/1099 Forms for subcontractors, rents, raffle or game winners and others

- Copyright/trademark filings to protect land trust logo, trade name, etc.

- And whatever else your lands trust needs to or must file

Please see full White Paper below for more information.

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Topics:  Estate Planning, Estate Tax, Form 990, FUTA, Trusts

Published In: General Business Updates, Commercial Real Estate Updates, Residential Real Estate Updates, Tax Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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