300 Bridge Street
Phoenixville, PA 19460
Phone: 610-933-3507
Fax: 610-933-6263
Tax Preparation and Tax Returns for the greater Philadelphia area, South Jersey, and the surrounding suburbs
Regular Office Hours:
Monday-Friday 9:00AM – 5:00PM
Tax Season Office Hours:
Monday-Friday 9:00AM – 7:00PM
Saturdays 10:00AM – 5:00PM
Estate Taxes
Do you need assistance as an executor in estate administration?
When a loved one passes on, preparing the final tax returns and doing the tax returns for the estate can be a difficult and confusing process best left to a professional. We can prepare those returns for you and help you every step of the way.
Sorting out the Taxes in an Estate
Many individuals are confused about the tax returns that need to be filed after a person is deceased. Often the confusion lies in the fact that there are several types of returns with different objectives. There are inheritance tax returns and income tax returns. They are as follows:
Income Tax Returns
(These are the returns used to report income and determine income tax before and after death). This discussion is for cash basis taxpayers:
Estate Tax Returns
(These returns are an inventory of assets owned and liabilities owed by the taxpayer at the time of death. The estate’s value is then determined, and an estate tax is imposed on this net amount if it exceeds certain amounts.)
This is a simplified explanation of a complicated matter to help create an understanding of the difference between the two types of returns. It is best to consult a professional to assist in this process.
Phoenix Tax Consultants
Phoenix Tax Consultants LLC has over 30 years of local tax preparation, tax planning, and audit experience. Don't trust your return to anyone, go with the experts!
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