Trust Tax Preparation

At Town CPA in Belmont, we support trustees, beneficiaries, and executors of estates in Boston and the surrounding towns of Belmont, Newton, Needham, Lexington, Watertown, Winchester and Waltham through our income tax filing and tax preparation services.

If you are the trustee or administrator of a trust, you probably know that each trust’s beneficiary receives an associated Schedule K-1 every year. This form details the trust’s activities and is used to prepare the beneficiary’s personal 1040 income tax return, which must be filed every year.

Perhaps you are the newly appointed executor or trustee of your sister’s estate and you are not yet aware that estates and certain trusts need to pay income tax, just like individuals do.

Or perhaps you are a business owner or individual with significant assets who has already set up a trust to preserve your wealth for future generations, but need assistance with trust tax preparation.

Or perhaps you have already set up a trust but are wondering how distributions are made and whether your beneficiaries will have to pay tax on them at the time of your death.

Trust tax return preparation is complicated and requires specialized knowledge related to filing deadlines, timing of distributions, available elections, and fiscal year end selection.

At Town CPA in Belmont, we understand fiduciary tax laws and compliance issues at both state and federal levels.

Our experienced tax and accounting professionals have the expertise you need when it comes to preparing the required fiduciary tax return forms and responding to the complex tax scenarios that might arise from them. We make sure we stay up-to-date on the most recent state and federal tax legislation affecting trust tax return preparation so that we can best accommodate your needs with strong, current working knowledge of the industry.

When you hire Town CPA to prepare your trust tax returns, here’s what you get:

• State and federal tax return preparation in conformance with applicable tax provisions, including decedent’s final income tax return (Form 1040)
• Collaboration with attorneys and investment advisers to ensure you reach your financial objectives
• Personalized tax planning strategies that enable you to take full advantage of available credits and deductions

At Town CPA, we provide peace of mind for trustees, beneficiaries, and executors.

Preserve your wealth and ensure your family’s financial security – before it’s too late. Call Town CPA today at 617-484-1838 to learn more about our trust tax return preparation services.