Tax Services
Taxes of Estates and Trusts are our firm's specialty. We can help you determine which tax returns are necessary in your particular case:
Fiduciary Income Tax Returns (Form 1041)
Form 1041 is the income tax return for an Estate or Trust. (It is analogous to Form 1040 for individuals.) Form 1041 reports the income and expenses for an Estate/Trust. Trusts must file on a calendar year end basis (December); however, sometimes it can be advantageous to elect a fiscal year end for Estates.
Form 1041 is the income tax return for an Estate or Trust. (It is analogous to Form 1040 for individuals.) Form 1041 reports the income and expenses for an Estate/Trust. Trusts must file on a calendar year end basis (December); however, sometimes it can be advantageous to elect a fiscal year end for Estates.
Individual Income Tax Returns (Form 1040)
We specialize in the following circumstances which can make tax time particularly challenging:
We specialize in the following circumstances which can make tax time particularly challenging:
- Surviving spouses
- Recipients of disability and other trusts
- Individuals under conservatorship or guardianship
- Filing of prior year, past-due returns for any of the above individuals
- IRS audits and issues
Gift Taxes (Form 709)
Taxation of gifts is one of the most misunderstood and overlooked areas of US tax law. We specialize in determining the taxable consequences of your gifts, in minimizing gift taxes, and ensuring compliance with tax law.
Taxation of gifts is one of the most misunderstood and overlooked areas of US tax law. We specialize in determining the taxable consequences of your gifts, in minimizing gift taxes, and ensuring compliance with tax law.
Estate Tax Return (Form 706)
Form 706 differs from the 1041 in that it is an ad valorem, or value-based tax. This is the so-called "death tax" levied on the value of a decedent's estate. The issues associated with estate tax returns are complex - even deciding whether it is necessary to file can be a challenge. We can help with this determination and, if required, prepare the estate tax return and required attachments.
Form 706 differs from the 1041 in that it is an ad valorem, or value-based tax. This is the so-called "death tax" levied on the value of a decedent's estate. The issues associated with estate tax returns are complex - even deciding whether it is necessary to file can be a challenge. We can help with this determination and, if required, prepare the estate tax return and required attachments.