Need Help Filing Your Return?
Reach out to our team to put together a discovery call. We can help get your estate tax returns filed!
Estate/Trust Tax Returns
$600-2,000
per return
- Estate Tax Returns
- Trust Tax Returns
- Gift Tax Returns
- Irrevocable Trusts
- Estate Tax Planning
Pricing is based on the complexity of the return.
Trust & Estate Tax Preparation
Bennett Accounting & Tax LLC offers high quality estate and trust tax preparation services. With our expertise, we can help file your estate and/or trust income tax returns, and estate and gift tax returns.
Our team of professionals approaches trust returns with the expertise necessary to ensure you remain compliant while minimizing your tax bill with the IRS.
Work With Us
At Bennett Accounting & Tax, our team of professionals are highly skilled in the preparation of estate tax returns, gift tax returns, and estate/trust income tax returns. Every return is reviewed by a Certified Public Accountant (CPA) prior to filing. With us, you’re in good hands.
- Tax Return for Estates and Trusts (Form 1041)
- Estate Tax Return (Form 706)
- Gift Tax Return (Form 709)
- Estate Tax Planning
- Budgeting & Forecasting
- Business Consulting & Advisory
Questions & Answers
An estate and trust tax return is a return filed via Form 1041 for estates and trusts. It is required to be filed for all estates and trusts whose gross income exceeds $600.
A 1041 must also be filed whenever there is a beneficiary of an estate or trust who is a nonresident alien or if the trust held a qualified investment in a qualified opportunity fund at any time during the year.
An estate tax return is a return for tax levied on the transfer of an estate. As of 2024, up to $13.61 million per person is exempted from this tax. It is filed via Form 706.
An estate and trust tax return is a return for tax on income earned by a trust or estate. It is filed via Form 1041.
Estates and trusts may generally take the same deductions as individuals for their taxes. They are also permitted to deduct fiduciary fees, tax preparer fees, and charitable deductions.
Individual taxes are generally subject to a preferable tax rate compared to estate and trust taxes. Estate and trust taxes can often be avoided by distributing income from the estate or trust to the individual via a Form K-1.
An estate may exempt up to $13.61 million (as of 2024) in value from the federal estate tax. Any value above this threshold is subject to the federal estate tax.
A gift tax return is a return filed by the donor to report gifts they provided to others throughout the year and is filed via Form 709. As of 2023, the annual gift exclusion is $17,000.
Free Discovery Meeting!
We're taking on new clients!
If you’re looking for a Certified Public Accountant to provide tax preparation, bookkeeping, or payroll services, we’re here to help!
Let’s figure out if we’re a good match for one another.
Our Tax Services
More Than Just Estate Taxes
The work of our team is not just limited to estate taxes. We support businesses, individuals, and more with our tax preparation and tax planning services.
- Limited Liability Companies
- C-Corporations
- S-Corporations
- Landlords
- Trusts & Estates
- Sole Proprietorships
- Limited Liability Partnerships
- Not-for-Profit Organizations
Hear What Our Clients Have to Say
Our Client Testimonials
We assist clients in a wide range of industries at different stages of their lives and businesses. Below are some of the clients our practice continues to support to this day.
It's reassuring to have such reliable and personable professionals handling my financial matters.
