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Making sure you are on top of your estate taxes

Maintaining your estate taxes could easily go off the rails without a professional tax provider helping you, especially since an estate tax is imposed on your property after you are gone for the privilege of being able to pass them on. Also, since taxes are based on the excess value of the entire value of your estate and, thus, are usually assessed on a sliding basis, it is perennially subject to changes. Moreover, the tax rate for Maryland has graduated, starting at 8% and maxes at 16% based on the size of your estate.

The Tax Cuts and Jobs Act of 2017, for instance, doubled the exemption in 2018.

That is why having a professional tax services provider like us at FRED Tax Services is not only important but also inevitable if you want to guarantee that everything will run smoothly when you are gone.

Our tax professionals have been in the business for more than 17 years, so you can rest assured they know how to navigate the entire estate tax terrain in a way that will maximize your beneficiaries, minimize your overall costs, and attend to the potential complexities expected with long-term investments like these, among others. Among the major estate tax tasks they will be in charge of include:

  • Filing the final 1040 or the decedent’s taxes for the year of his/her death
  • Filing the estate’s income tax return
  • Other tasks such as filing for a federal employer identification number (EIN), Form 56 that informs the IRS that you will be the executor for tax matters on behalf of the state
  • Among others

Now You Can Be in a Position of Strength

With our tax services, you can focus on your core offerings. Let us help you be the best in your field. Reach us by sending us a message here. Ready to enlist our help? Please get a free estimate of your service here first. You may also set an appointment with one of our tax specialists to discuss your needs.