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
Social Security and Taxes
After contributing through payroll and self-employment taxes for decades of work, many Social Security beneficiaries are astonished when they learn that their benefits may be subject to federal and sometimes state income taxes. When benefits were first paid in 1940,...
It’s time to think about 1099s
We get them from our banks, our retirement plans, and our brokers but are we ever required to issue a 1099? The 1099 series are information returns that report to the IRS various types of payments. This is then matched with the recipients’ reported income. In an...
Tips for Employers
New Tips for Employers in New Jersey Federal Tax Credits The Work Opportunity Tax Credit allows employers that hire members of targeted groups who face employment barriers to claim a credit against income tax for a percentage of first-year wages. In a recent News...
NEW JERSEY HEALTH INSURANCE MANDATE
New Jersey Health Insurance Mandate to be effective in 2019: In response to the repeal of the Affordable Care Act’s (ACA) federal health insurance mandate that will become effective in 2019, legislation was signed on May 30, 2018 by New Jersey Gov. Phil Murphy whereby...
REPEAL OF ENTERTAINMENT DEDUCTIONS
The Tax Cuts & Jobs Act (TJCA) repealed the deduction for business entertainment beginning in 2018. This includes expenditures for taking clients to sporting events and shows, and paying for season tickets for various sporting events. Generally, any dues for...
CRP TAX BULLETIN AND UPDATE: REDEFINING NEXUS FOR SALES AND USE TAX PURPOSES
On June 21 of this year, the Supreme Court reached a decision in the South Dakota v. Wayfair case which could have a far-reaching impact on clients with sales and operations in multiple states. Prior to the ruling, case law dating back 26 years to the National Bellas...