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
Contributions From IRAs
Background The Pension Protection Act of 2006 first allowed taxpayers age 701/2 or older to make tax-free charitable donations directly from their IRAs. Technically, these taxpayers were allowed to exclude from gross income otherwise taxable distributions from their...
Some Early Filers Will Be Getting Additional Funds from the IRS. Are You One?
Of my 30+ “tax seasons”, I think this was the most challenging, because Congress changed the law late in 2020 (not so unusual) and even well into the filing season, after millions of returns had already been filed. Two of those changes might result in tax refunds...
Where’s My Refund?
Are you still waiting for your income tax refund? It is that time of year when the fortunate among us are expecting refunds from the government. However, this anticipation can quickly turn to worry when the money you are expecting does not arrive. Federal refunds...
Advanced Child Tax Credit
On March 11, 2021, President Joe Biden signed a substantial relief bill, the American Rescue Plan Act (ARPA) of 2021. This expands the Child Tax Credit (CTC) for the 2021 tax year by increasing the credit amounts for many taxpayers. While this bill is good news for...
Tax Facts: the 2020 Edition
Happy 2021! Here are some key items relating to the 2020 tax year filing: Standard deduction is as follows: Single $12,400 Married filing joint $24,800 Head of household $18,650 Medical expense deduction threshold is 7.5% of adjusted gross income. SALT Deduction...
Want to Avoid Paying Back Provider Relief Funds?
Truly a relief in 2020, the federal government allocated $175 billion in payments to be distributed to providers of healthcare services and support through the Provider Relief Fund (PRF). Providers even received the Relief Fund Payments from Phase 1, the $30 Billion...