Estates & Trusts
Whether you are single or married, just starting out or approaching retirement, estate planning should be an essential part of your overall financial plan. Each member of our estates & trusts team brings extensive experience to your unique situation. By leveraging opportunity while reducing taxes and other fees, we can help you craft and implement a plan that eliminates uncertainty and maximizes the value of your estate.
Capaldi Reynolds & Pelosi is involved in all elements of estate, gift and trust tax planning and preparation. Considered a complicated area of tax law, we work to understand our client’s individual concerns and needs with regard to estates & trusts, and address them within the framework of current Federal and State laws. Our team has the experience and expertise to guide our clients through various aspects of estate and trust administration, as well as wealth transfer through gifting.
Capaldi Reynolds & Pelosi works closely with your attorneys and financial or investment advisors and insurance agents in order to customize and implement an estate and financial plan in your best interest, and one that is prepared to adapt to life changes. Our firm provides expert preparation of:
- Estate tax returns
- Fiduciary income tax returns
- Gift tax returns
- Accounting preparation and related services
We stay informed on the most recent Federal and State tax legislation to assist in the preparation of estate, trust, and gift tax returns. The administration of estates and trusts can be quite involved and knowing the available elections, distribution rules and filing deadlines is essential. The team at Capaldi Reynolds & Pelosi is ready with the knowledge and resources needed to assist you.
Meet Our Estates & Trusts Experts
Bistra Dimova, CPA
Partner
Clayton Himstedt, CPA
Partner
Industry Insights
Don’t be the victim of a tax scam
Earlier this month the best bit of tax scamming I’ve seen in my career crossed my desk. While there are many red flags on the document below, at first blush it’s the real deal, a balance due notice from the IRS. And not an outrageous bill; something you might consider...
This is not a scam!
The IRS has announced that it will conduct special “compliance efforts” for businesses and individuals in various communities. The purpose is to meet face-to-face with taxpayers with ongoing tax issues. These meetings will take place in areas where the Service’s...
Household Employees
How do you determine if an individual who is hired to do household work is considered a household employee or an independent contractor? Per the IRS guidelines, an individual who works around your home is considered a household employee if you can control the type of...
Get Ready for Taxes: Safekeeping tax records helps for future filing, amended returns, audits
Get Ready for Taxes! WASHINGTON — With the tax filing season quickly approaching, the Internal Revenue Service wants taxpayers to understand how long to keep tax returns and other documents. This is the seventh in a series of reminders to help taxpayers Get Ready for...
Quickbooks Corner: The best gift you can give your accountant
The best Christmas present for your accountant is organized records. Follow these simple steps and you’ll feel the love all the way through 2019. Use Quickbooks to help: Reconcile your bank and credit card accounts up to December 31, 2018. Print the reconciliations...
Nonprofit Organizations: Charity Registration Filing Requirements with State of New Jersey
Nonprofit organizations are subject to numerous federal and state tax filing requirements, including annual tax returns. Most nonprofit organizations are required to file an annual federal tax return (Form 990, 990-EZ, 990-PF, or 990-N); however, state filing...