Small Business Income Tax Preparation
Casement Tax Preparation Helps Businesses Save Money & Time
Every year business owners must report their revenue, expenses, and profits to the Internal Revenue Service (IRS) to pay their fair share of taxes. Many tax preparation services are offered, but having your taxes done incorrectly can cost you severely, especially if there are tax laws to follow. Casement Tax Preparation is made up of tax professionals who can properly prepare your taxes for tax season. We prepare your tax returns accurately while guiding to save you time and money.
Business Income Taxes
- Sole Proprietor
ESTATE & TRUST TAX PREPARATION
You may find yourself in the role of trustee or an executor without preparation or during a stressful life event, like the death of a loved one. We are 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.
Most likely, you will only be an executor or personal representative of an estate once or twice in your lifetime. It is an overwhelming task to understand which tax filings are needed and how handling the estate will impact the heirs.
We will help you through the tax process and give you peace of mind as you handle the affairs of the estate or trust.
Large estates are required to file a tax return that lists all the assets of the estate. 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 Returns for Estates and Trusts. In some cases, the trust pays any tax that is due. In other cases, the beneficiaries will pay the tax.
The estate must also prepare a 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 and 1041.
We will evaluate your unique situation to determine which filings are needed and accurately prepare the returns.
Trusts and estates often involve complex tax issues, and there simply is not a substitute for experience. Our experience will help guide you through the difficult task of calculating and reporting trust income to beneficiaries.
OUR SERVICES TO TRUSTS AND ESTATES ARE TAILORED MADE TO MEET YOUR NEEDS AND MAY INCLUDE THE FOLLOWING:
Fiduciary Income Taxes
- Tax planning
- Minimizing taxes
- Achieving objectives
- Tax preparation and compliance
- Planning for estate taxes
- Preparation of estate and gift tax returns