Estate & Trust Tax Preparation

Often, you will find that you’ve become a trustee or an executor of an estate without preparation or during a stressful life event, like the death of a loved one.

We’re here to help you understand how the tax law applies to your situation and give you peace of mind as you handle the affairs of the estate or trust.

The Benefits of a Small Firm

Many small CPA firms don't offer tax preparation services for estates and trusts. Many large CPA firms are...large. They can be intimidating or their fees may be out of reach. You may find that working with a smaller CPA firm is a good fit for you. Our intention is not only to prepare these tax filings, but to give you confidence in your role as executor or personal representative.

You may have had a professional firm handle your estate planning that does not provide tax services. We work closely with a number of law firms. As they navigate the legal realm or probate and courts, we handle the tax preparation.

Estate Tax Preparation

You will, most likely, only be an executor or personal representative of an estate once or twice in your life. It may seem overwhelming to understand what tax filings are needed and how all this impact the heirs.

We are here to walk you through the tax process and give you peace of mind as you handle the affairs of your loved one.

Some estates are required to file a tax return that lists all the assets of the estates. These assets include bank accounts, stocks, real estate, IRAs, pensions, annuities and the like. This is called Form 706 - Estate Tax Return. Some estates may also need to file a tax return that reports the income earned from the date of death to the date assets are distributed to the heirs. This is called Form 1041 - Income Tax Return for Estates and Trusts.

We can help evaluate your unique situation to determine which filings are needed and prepare the returns.

All estates must also prepare the final individual income tax return. This return reports the income earned from January 1st until the date of death. It can be challenging to know exactly how to handle certain types of income on the final 1040. We can help sort this out and prepare the return.

Trust Tax Preparation

You may find yourself in the role of trustee with little experience or training. It can seem daunting to understand what tax filings are needed and how all this impact the beneficiaries.

We're here to walk you through the tax process and to give you peace of mind as you manage the trust.

Trusts report their income and expense on Form 1041- Income Tax Return for Estates and Trusts. In some cases, the trust pays any tax that is due. In other cases the beneficiaries pay the tax. We can help you understand your specific tax situation and prepare these returns.

Partnering with Attorneys

At Bulger CPA, we’re collaborative and enjoy partnering with attorneys to help their clients file estate tax returns with confidence. We’re experienced in estate tax law, but don’t have to cover the overhead costs of a large company. Instead, we offer the flexibility and personal attention you can often only find at a small firm. 

If you’re a new or established attorney looking for a CPA partnership, contact Tom to learn more about how we can help.

Schedule an Appointment

Call Tom’s team today to learn more about how we can support you as you work with an estate or trust.