Tax Compliance

It is often a surprise to clients when they learn of the tax filing requirements as a result of the passage of a family member or loved one. With a CPA/Attorney, our office can help you navigate the obligations and ensure tax compliance. With expertise in Federal Estate Tax, Capital Gain Tax as the result of the sale of assets of a deceased person, Personal Decedent Income Tax and Fiduciary Tax Filings, we guide our clients through the fairly complex after-death tax reporting obligations.

Clients are often surprised to learn the applicability of the Federal Tax Code to fairly modest estates. Did you know that if more than $400.00 of income is produced by assets held in a deceased person’s trust that the Successor Trustee is obligated to timely file a 1041 Federal Fiduciary Tax Return? Do you know whether you have a cost basis in inherited assets equal to fair market value of those assets at the date of death, or do you have a cost basis step-up limitation?

If you have questions about the tax consequences of a trust administration or probate, or as an heir, beneficiary or fiduciary, please allow us to be of assistance.