Estate and Tax Planning:

Everyone needs an estate plan, whether they realize it or not. An effective estate plan not only allocates one’s wealth according to their wishes but also reduces the cost and time of administrating the estate. In addition, an effective estate plan is proper financial strategies and planning instruments by providing insight on gifting and ways to protect and transfer assets, including business ownership interests, to help safeguard their legacy and reduce the estate tax burden. Our firm is here to assist you with estate planning and analyzing financial situation to ensure that all elements work together to allow you to pay the lowest taxes possible via tax planning.

Trust & Estate Taxes:

We can assist in preparation of following tax returns

  • Form 1041: U.S. Income Tax Return for Estates and Trusts
  • Form 706: United States Estate (and Generation-Skipping Transfer) Tax Return
  • Form 709: United States Gift (and Generation-Skipping Transfer) Tax Return

Charities and Nonprofit Returns:

All charitable remainder trusts described in section 664 must file Form 5227. We can assist with filing
most common forms of a split-interest trust which include the following

  • Charitable Lead Trust
  • Charitable Remainder Annuity Trust (CRAT)
  • Charitable Remainder Unitrust (CRUT)
  • Pooled Income Fund

Fiduciary Accounting:

Trust agreement, Beneficiaries or sometimes court may require the trustee to provide an accounting to
all the beneficiaries. Fiduciary accounting involves recording the transactions associated with a trust or
estate (the “entity”) and issuing periodic reports on the entity’s status. Our firm will be delighted to
answer any questions and assist in preparation of accounting for any of these situations.

Individual Income Tax Return:

An individual tax return is required to be filed with federal, state, or local taxing authorities to report all
taxable income received during the previous year if gross income is over certain amount. We can assist
clients file federal and state tax returns including any foreign reporting.

Business Tax Return:

A business tax return is required to be filed annually with the IRS. Our firm is here to answer any
questions and assist clients with filing of business tax returns.

Disclaimer: The material available on this website is intended for general informational purposes only and does not constitute professional advice. Communication of information by, in, to or through this website or use of it (1) is not provided in the course of and does not create or constitute a professional-client relationship, (2) is not intended as a solicitation, (3) is not intended to convey or constitute professional advice, and (4) is not a substitute for obtaining professional advice from a qualified CPA. While we make every attempt to keep the information contained in this website current, we do not promise or guarantee that the information is correct, complete, or up-to-date.