Once an estate has been set up, it no longer falls under the same tax requirements as a single person or couple. This means that different tax forms need to be filled out and various amounts of taxes will need to be paid.
All of this can become complicated and hard to keep track, which is why you need to call an experienced accounting firm – Liu and Associates, LLP.
We can help with:
- Organizing all tax records
- Keeping track of bank accounts and statements, and distributions
- Paying the appropriate taxes
- After death estate succession and the related paperwork
Just One Minor Mistake Can Result in Fines and Additional Taxes
This is why you need to keep very accurate estate records. A minor slip up when reporting interest, net worth or property valuations can have serious repercussions. The government will step up and force the estate to pay fines, fees and in some cases, even higher taxes. Hiring an accounting firm with a great track record – Liu and Associates, LLP, can prevent these things from happening. Let us handle all of the financial matters concerning your estate, and as a result, help your successors start off on the right foot.