Estate and Fiduciary Taxes

If you're administering an estate, you may be confronted by a seemingly endless array of challenging tasks. Be aware that estate administration, due to its complexities, is an IRS audit target.

It's not uncommon for first-time executors to be unfamiliar with K-1's, distributable net income and step-up in basis rules, among the many tax intricacies attendant to administering an estate properly. They turn to our office to achieve tax compliance as they administer the estate.

We can help you navigate the complex and complicated rules in order to minimize tax liabilities and to keep the estate and its beneficiaries in compliance. Choosing between a fiscal year and a calendar year, for example, can have a significant impact which can save more in taxes that our related professional fees.


We will help you make practical, beneficial and professionally informed decisions about such complicated issues as the distribution of net income; the 65 day rule grace period; the step-up in basis rules; capital losses on acquired property; and the allocation of executor's fees.

 

Our over-riding concern is to help you make the right decisions to assure compliance.

 

Please call the office for a complimentary one-hour consultation to learn how we can be of help to you.  Click here.

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Contact Us

Rudolph CPA

847-362-1050

Fax 847-362-1380

info@rudolphcpa.com

1870 W Winchester Rd #113

Libertyville, IL 60048

 

Mon-Fri 9am-7pm

Saturday 9am-4pm

Sunday - by appt.