Estate, Gift, Income, and Property Taxation & Planning; Tax Returns

“Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.” Commissioner v. Newman, 159 F.2d 848, 851 (2d Cir. 1947) – dissenting opinion

Estate Tax Analysis, Planning, Minimization and Avoidance

We review, analyze and provide services in the following:

  • Gross Estate Inclusion
  • Portability
  • Valuation Discounts
  • Qualified Disclaimers
  • Powers of Appointment
  • Alternate Valuation Date
  • Special Use Valuation (IRC 2032A) for Farmers and Ranchers
  • Estate Tax Deductions
  • Estate Tax Credits
  • Estate Tax Liability
  • Tax Payment Deferral
  • Estate Tax Returns
  • Estate Tax Audits
  • Estate Tax Appeals
  • Estate Tax Litigation

Gift Tax Analysis, Planning, Minimization and Avoidance

We review and analyze actual, deemed and purported gifts to determine the following:

  • Transfers subject to Gift Tax
  • Completed Gift Analysis
  • Annual Exclusions
  • Split Gifts
  • Qualified Disclaimers
  • Valuation Discounts
  • Gift Tax Deductions
  • Marital Deduction Planning
  • Charitable Deductions
  • Gift Tax Credits
  • Gift Tax Liability
  • Gift Tax Returns
  • Gift Tax Audits
  • Gift Tax Appeals
  • Gift Tax Litigation

Generation Skipping Transfer Tax Analysis, Planning, Minimization and Avoidance

Estates and Gifts are not only subject to Estate and Gift Tax. There is also something called the Generation Skipping Transfer Tax (GSTT). We review and analyze the application of the Generation Skipping Transfer Tax to determine the following:

  • Application to Gifts
  • Applicable GSTT Exemptions to Gifts
  • Application to Estates
  • Applicable GSTT Exemptions to Estates
  • GSTT Tax Calculations
  • GSTT avoidance Strategies
  • GSTT Tax Return Preparation or Consulting

Income Tax Analysis, Planning, Minimization and Avoidance

We review, analyze and structure trusts, estates, and other income producing activities to determine the following:

  • Basis Rules and Step up Strategies at Death
  • Basis Rules for Transfers During Lifetime
  • Income Taxation of Trusts & Estates
  • Income in Respect of a Decedent
  • Intentionally Defective Grantor Trusts
  • Taxation of Distributions
  • Tax Return Preparation
  • Tax Audits
  • Tax Appeals
  • Tax Litigation

California Property Tax Analysis, Planning, Minimization and Reassessment Avoidance

Real Property Tax Reassessment Can Result on Death or Transfer Without Careful Planning

  • Real Property Transfer Planning
  • Entity Ownership Transfer Analysis & Planning Strategies
  • Change in Ownership Analysis
  • Preparation and Filing State Entity Ownership Change Reports
  • Preparation of Parent-Child/Grandparent-Grandchild Exclusion County Forms
  • Trust Transfer Analysis
  • Interspousal Transfers

Tax Returns

Through our affiliated CPA firm, DSA ACCOUNTING, we prepare the following trust and estate related tax returns:

  • Gift Tax Returns
  • Estate Tax Returns
  • Estate Income Tax Returns
  • Trust Income Tax Returns
  • Family Partnership  or LLC Income Tax Returns
  • Family Corporation Income Tax Returns
  • Property Tax Returns
  • California State Entity Change in Ownership Reports