Estate & Trust Tax Preparation
Are you aware that estate tax rates are currently 40% and may possibly increase to 50% in the near future? Perhaps you may think that you do not need estate planning, after all only the very wealthy need to worry about this, right? With the inflation of the dollar and the rollback of the estate tax exemption limits, many taxpayers and their families will find themselves having to struggle with estate taxes. The professionals at Tompkins & Peters CPAs, P.C. are experienced and knowledgeable in the area of estate and fiduciary tax preparation.
Tax returns are often required for many trusts and estates depending on the laws in effect and the design of the trust and estate. The professionals at Tompkins & Peters CPAs, P.C. have the expertise required to prepare these complex returns. Returns that may be required include the Federal Form 706, Form 709, and Form 1041 as well as any state returns that may be required depending on residency and/or location of the assets involved in the estate and/or trust.