We understand that estate tax planning and wealth preservation are a major concern for our clients. Federal and state tax laws are in a constant state of fluctuation. Laws regarding estate and gift tax at both the federal and state level can be complex. Our tax professionals have vast experience in estate and gift taxation and we can help our clients maximize assets they they transfer to future generations.
We consider all aspects of each client’s planning goals. A comprehensive tax plan may include the transfer of wealth through gifts during a client’s lifetime, through the estate after death, or a combination of both strategies.
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The IRS treats trusts as separate tax entities that must pay tax on income generated in the trust annually. The person who is responsible for filing the trust tax returns is typically the trustee.
We are an estate and trust CPA firm and we work diligently with trustees and fiduciaries to ensure that trust tax returns are completed timely and accurately. Trust and estate compliance begins with carefully identifying the proper trust structure and then carefully planning in order to minimize tax issues.
Effective Planning to Minimize Estate Taxes
We work with high net worth clients, and minimizing estate taxes is a critical goal. Our comprehensive review and analysis of each client’s situation allows us to develop a custom plan. We address all relevant federal and state tax exemptions, and use a variety of strategies to reduce the any estate tax liability. These strategies include:
- Family Limited Partnerships (FLPs)
- Revocable and Irrevocable trusts
- Charitable Lead Trusts and Charitable Remainder Trusts
- Qualified Personal Residence Trusts
- Asset re-titling between spouses
- Life Insurance Trusts (ILITs)
- Grantor-Retained Annuity Trusts and other family trust structures
Each client’s situation is unique and requires a specialized approach. We utilize our knowledge and vast experience to bring about your family’s desired outcome.
Tax Structuring for Lifetime Gifts
We assist clients with short-term and long-term gifts analysis to protect financial security during life. Another goal is to mitigate future tax issues.
Among the options we consider with our clients are:
- Irrevocable Gift Trusts (Crummey)
- Section 2503(c) Trusts for Minors
- Uniform Gifts to Minors Accounts (UGMA)
- Section 529 Qualified State Tuition Program Plans
- Uniform Transfers to Minors Accounts (UTMA)
- Section 2503(e) Transfers for Medical Expenses and Qualified Education
We understand the importance of wealth preservation and estate tax planning. We look forward to working with you to accomplish your goals and estate planning requirements.
Trust CPA and Estate Tax Accountant Near Me?
We know that most clients want a CPA that is close to them. But we utilize a variety of tools that will simplify the tax process and enable us to complete tax returns in all 50 states. These tools include online vaults, e-signature, and secure portals. Feel free to reach out to us for a free consultation and we will discuss how we can serve your needs.
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If you find yourself asking the question: “I need a trust CPA near me” you have come to the right place.