Estate & Trust Tax Preparation Plano

Estate & Trust Tax Preparation Plano

Your entire life to this point you’ve worked hard to accomplish your goals and provide a better life for your family. Regrettably, much of your hard work can could be for naught if you fail to plan for the inevitability of life. If you’re like most people, you prefer not to focus on your mortality, meanwhile others unfortunately do not believe they’re wealthy enough to worry about estate and gift taxes. Either way, the lack of planning can be a huge mistake.

Successful wealth and asset management should protect your heirs from the common mistakes resulting from the lack of planning or from mismanagement of taxation and trusts.  The goal is to provide your heirs with enough flexibility to ensure they have access to assets when they need it most.  Ray Smith, CPA, located in Plano, recognizes that every estate is uniquely structured and designed.  We will work faithfully with your attorney to ensure your estate is managed and administered to the unique needs of you and your family.

Developing a functional wealth plan, which is specifically tailored to unique circumstances is vital to ensuring the stability of your Plano estate. We promise to work hand in hand with your attorney and other service providers to develop a game plan that will protect your assets from significant loss as a result of estate taxes.

Our Plano estate and tax preparation services include:

  • Strategy development
  • The identification of long-term care needs and employ solutions to guarantee needs are met.
  • Design and development estate plans specifically to reduce estate and/or gift tax, while maximizing family wealth.
  • Development and implementation of a watertight business succession plan.
  • Planning for individual retirement account (IRA) and qualified pension plan distributions.
  • Pre-& Post-mortem tax planning.
  • Asset Protection throughout every stage of life developing an estate plan effectively adding essential benefits:
    • Provide the liquidity needed for estate settlement expenses at a minimum cost
    • Reduce the amount of taxes that will have to be paid
    • Increase the likelihood that your assets are distributed the way you want

Ray Smith, CPA will leverage experience and expertise to guarantee your Plano estate plan will provide you with the peace of mind that your assets and family are being appropriately protected.

Trusts and estates tax services require specific documents to be prepared and filed:

  • Payroll and payroll taxes for household employees
  • Account reconciliation with banks, investment brokers, etc.
  • Investment tracking for tax purposes and capital gains/losses
  • Preparing a schedule of property
  • Estate tax returns – Form 1041
  • Gift tax returns – Form 709
  • Fiduciary tax returns Prepare income tax returns for individuals and beneficiaries
  • Cash flow reports and budgets
  • Filing quarterly deposits of estimated taxes

Let Ray Smith, CPA help develop and implement an appropriate estate and tax preparation plan for you, your assets and your family. We serve Plano and the surrounding cities. Contact Us Today (972)437-3698!