Did you do your estate planning some time ago before the passage of substantial tax law changes? Then your documents may be out of date.

There’s a special tax deduction available to C corporations. The “dividends-received deduction” reduces or eliminates an extra level of tax on dividends.

You may be taxed on more business partnership income than was distributed to you. Why? It’s due to the way partnerships and partners are taxed.

The tax code specifies that all income is taxable from any source, unless exempted. Though the tax code does provide an exclusion for certain damage awards.