Estate, Gift and Trust Tax

Schedule a free consultation with our team and let’s make things happen!

Have you become a Trustee or a Personal Representative? Are you making gifts to family, friends or charities? Are you receiving a foreign inheritance or a foreign trust distribution?

We always recommend our clients to plan ahead, don’t wait until the IRS knocks on your door or your legal obligations are due.

Contact us today for your consultation and we will help you navigate through your accounting and reporting obligations.

Contact us today for your initial consultation.

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Have you been named a Personal Representative, Trustee or Guardian? You have then been tasked with highly regulated fiduciary duties among those, the duty of keeping beneficiaries informed of their actions and decisions and providing them with accurate and regular accountings.

At Drage CPA we have extensive experience coordinating the estate, tax and fiduciary accounting issues involved with the administration of estates and trusts and will be at your side throughout the process. Our assistance includes minimizing tax obligations, gathering assets, and consulting with financial advisors regarding transferring assets to beneficiaries.

We also prepare:

  • Estate and Trust Income Tax Returns (Form 1041)
  • Estate Tax Return (Form 706 and 706-NA)
  • Gift Tax Return (Form 709), and
  • State required fiduciary accounting reports

Protect yourself from personal liability by partnering up with a group of professionals knowledgeable in fiduciary accounting.

Protecting your high-net-worth wealth for current and future generations cannot be entrusted to just anyone.

At Drage CPA, our professionals work closely with highly skilled law firms and wealth planners in assuring your trust, estate and gift planning is airtight to minimize tax liabilities and ensuring all reporting to the IRS is timely and correct.

Many people, regardless of their level of wealth choose to contribute to charitable causes during their lifetime or leave a legacy through their estate plan. Even though the primary reason might be just to support a specific cause or organization, donors may also receive income tax or estate tax benefits.

If you are considering giving to charitable organizations, contact us to discuss in detail your intentions and we will help you develop the correct strategy to benefit others while protecting your wealth.

If you already have charitable donation plan in place, remember that it is crucial to review it periodically to avoid its failure or miss out on better opportunities.

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