It’s all about trust. It really is. But whom do you trust for your trust? Do you know the ins and outs of tax law to ensure your own trust and estate issues are sound? If you have an irrevocable trust, you must file a Form 1041 “for each taxable year where the trust has $600 in income or the trust has a non-resident alien as a beneficiary,” according to the IRS. Are you up on these requirements?
And your estate: Do you know what might happen if you want to pass along your estate to a loved one? Depending on how you prepare today can have serious implications on what happens tomorrow to your estate—the money and property you’ve earned throughout a lifetime.
This is why you need support when filing taxes for trusts and estates and also administering the variables that might apply to your estate or trust.
Jason S. Osser CPA can help you where you need it. You can determine the best financial path not only for yourself, but you also can be assured that you, your family and loved ones realize the impact your accounting actions can have on your trust or estate.