Our focus is upon fiduciary accountings for guardianships, probate estates, and trusts. As such we are sensitive a proper accounting and reporting system is a key pillar in all successful administrations. We assist you in understanding information frequently requested, necessary information to report to governing agencies, assembly of supporting documents, and helping you discern fact from fiction about related administration expenditures.
There are times while discussing financial matters when legal questions arise. In such cases, we can directly connect you to a legal professional of Crest Key. Our accounting and legal professionals demonstrate our holistic approach to assisting you.
If you are a personal client, and if you like, we are happy to help with accounting services for your small businesses toward tax preparation.
Tax Planning and Preparation
A properly prepared accounting precedes a properly prepared Fiduciary Income Tax Return (From 1041) preparation. The reason is administration expenses in probate estates and trust administrations are typically not reported by third-parties.
All successful guardianships, probates, and trust administrations have proper financial reporting systems designed to inform interested persons, courts, and Internal Revenue Service. At Crest Key, we have expert accountants and tax professionals who understand all these reporting requirements.
Tax planning and preparations is a two-step process. First in planning, the structure of income and deductible expenses are considered, and adjustments may be recommended. Second, preparation is the reporting to the IRS on applicable forms of income received and deductions actually paid.
Few if anyone can predict when the IRS will inquire about or audit your tax position(s). If the IRS ever contacts you in this regard, we are here to protect you. We are CPAs and tax attorneys with years of experience in defending IRS inquiries and audits.
We are legal, accounting, and business minds delivering exemplary service.