Income Tax > Estates |
Estates
of individuals pay taxes on the value of their assets when Estate
taxes are based on the value of assets owned by a decedent |
If the estate earns income during the period of its administration, an income tax is imposed on the estate or its beneficiaries. This tax is calculated on a trust tax return. We are experienced in preparing estate tax returns and all the schedules related to the returns. There are many opportunities to reduce estate taxes based upon how the personal representative of the estate elects to treat certain assets, income earned, and expenses incurred by the estate. We are skilled at analyzing these options and making the correct decisions to reduce estate taxes to their absolute minimum amounts. |
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