Estate & Trust Tax Preparation - Preserve Your Legacy

Compassionate, Accurate Tax Support for Estates & Trusts Nationwide

Estate and trust tax preparation requires specialized expertise to protect your legacy and ensure beneficiaries receive what you intended. At Precision Accounting, our CPA-led team provides clear guidance and precise filing for fiduciary tax matters across the United States. Whether you're an executor, trustee, or beneficiary, we help you navigate complex requirements and deadlines with confidence.


Contact Us today to discuss your estate or trust tax needs.

Estate Tax Return Preparation

When a loved one passes away, the executor is responsible for filing both the final individual tax return and, in many cases, an estate income tax return (Form 1041). We assist with:

01.

Final individual returns for the deceased

02.

Federal and state estate income tax returns during probate

03.

Accurate reporting of income from assets, property sales, or investments

04.

Timely filing to avoid penalties

05.

Coordinating with estate attorneys to ensure complete documentation

Our team makes the process easier during a difficult time, so you can focus on your family.

Tax Planning for Estates & Trusts

We work alongside attorneys and financial advisors to:


  • Minimize potential estate taxes where applicable


  • Coordinate tax strategies before and after death


  • Ensure smooth asset transfers to beneficiaries


  • Review multi-state requirements for complex estates


While federal estate taxes only affect larger estates, proactive planning can benefit estates of all sizes-especially those with diverse assets.

Trust Tax Return Preparation

Trusts often require annual income tax filings, even if they are not actively distributing assets. We prepare Form 1041 for:


  • Irrevocable and revocable trusts
  • Family trusts
  • Charitable trusts
  • Special needs trusts


We also prepare Schedule K-1s for beneficiaries, ensuring income is reported correctly and any deductions are fully utilized.

What's Included in Our Services

  • Final individual returns (Form 1040)
  • Estate income tax returns (Form 1041)
  • Trust income tax returns (Form 1041)
  • Schedule K-1 preparation for beneficiaries
  • Gift tax returns (Form 709)
  • Fiduciary record-keeping guidance

Common Questions About Estate & Trust Tax Services

  • What's the difference between an estate tax return and a final return?

    In many cases, yes. Section 179 allows you to deduct the full purchase price of qualifying equipment in the year it's placed in service, subject to IRS limits.

  • Do small estates need to file a return?

    Independent, tailored portfolios, consistent with your risk profile, designed to grow over time and provide ongoing income to support your lifestyle

  • How are trust beneficiaries taxed?

    Beneficiaries generally report income distributed to them, as shown on the trust's Schedule K-1.

Black and white outline of a house with a chimney and door.

Coordinated Professional Support

We collaborate with legal and financial professionals to ensure your estate or trust plan is implemented without surprises. Our team stays up to date on IRS regulations and state-level rules so your filings are accurate and compliant, no matter where you live.

Let Us Ease the Burden

Handling an estate or trust can be overwhelming. Our CPA-led team brings the knowledge, precision, and compassion you need to meet every requirement while protecting your legacy. Contact Us today to schedule a confidential consultation.

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