Expert Estate Tax Service When You Need It

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Estate Tax Services in Bucks County, Montgomery County, & Philadelphia

Filing an estate tax return in Bucks County, Montgomery County, Philadelphia and surrounding areas can be a complicated task. Our team of tax experts at SD Associates, P.C. is here to help. We have years of experience preparing estate tax returns for individual taxpayers. We understand the importance of getting your estate tax return filed correctly and on time. Our team will schedule a consultation to discuss your specific situation and answer any questions you may have. Contact us today to learn more about our tax services or to speak with one of our tax experts.

The Benefits of Professional Estate Tax Help

Estate tax planning and filing can be a complex process. If you are grieving the loss of a loved one, it can be challenging to find the time to handle their estate or even begin to think about preparing the estate tax return. SD Associates, P.C. has a team of experienced tax professionals who can help you with every step of the estate tax return process. We know that you are experiencing  a difficult time, and we will work with you to make the process as smooth and stress-free as possible.

Our estate tax experts will work with you to gather the necessary information and documentation, and we will file the return for you. Once the return has been processed, we  will help you to understand the results and what they mean for the estate. If any taxes are owed, we can work with you to develop a plan to pay the taxes.

Estate Tax Return FAQs

What is an estate tax return?

An estate tax return is a federal tax return that must be filed for the estate of a deceased person (also known as a decedent). The estate tax return is used to calculate the taxes owed on the estate, and is filed with the Internal Revenue Service (IRS) or state agencies. The estate tax return must be filed even if no tax is owed on the estate. If the estate owes taxes, the return must be filed within 9 months of the decedent’s death, and the taxes must be paid within that time as well.

An estate is defined as all the property and assets owned by a person at the time of their death. This includes real estate, personal property, stocks, bonds, and cash. These assets become the property of their estate at the time of their death. If any assets generate income, this must also be accounted for in the estate tax return. The estate tax is imposed on the value of the deceased person’s gross estate, minus any allowable deductions. It is important to note that the decedent is a separate taxable entity from their estate.

Who is required to file an estate tax return?

The personal representative of the decedent’s estate is responsible for filing the estate tax return. If there is no will, the court will appoint an administrator to handle the estate. In either case, the personal representative must obtain a Taxpayer Identification Number (TIN) for the estate before they can file the return. 

The return must be filed if the decedent’s gross estate, plus any taxable gifts made during their lifetime, is more than the exempt amount. The exempt amount is the total value of assets that can be passed on to heirs without incurring any estate tax. This exempt amount changes every year, so it’s essential to check for the current year’s data.

How does the estate return process differ from the personal return process?

There are a few key differences between the estate return process and the personal return process. Many deductions and credits an individual can claim on their personal tax return can also be claimed on an estate tax return. However, a decedent’s estate can get an income distribution deduction that is applied to the assets given to beneficiaries. Distributions must be noted on Form 1041. Estates are also subject to estate tax, which does not apply to individuals’ income.

Why SD Associates, P.C.

Unparalleled service: There’s a reason our accounting firm is the best kept secret in the tri-state area. Our full-service accounting firm offers the wide range of services associated with a large company, but is still small enough to provide personalized estate tax returns in Bucks County, Montgomery County, Philadelphia, and the surrounding areas. Our team of six shareholders and associates work tirelessly to ensure that you get the maximum refund. 

High professional standards: We follow all of the American Institute of Certified Public Accountants (AICPA) auditing standards, guidelines, rules and regulations. We have been reviewed by the Pennsylvania Institute of Certified Public Accountants for quality control, and our work has received the highest possible rankings. 

Wide client base:  Our clients come from a variety of industries and professions. No matter what your business, we have the experience and knowledge to help. We have served small local businesses, large corporations, and individual taxpayers.

Personalized service: We take the time to get to know each of our clients on a personal level. This allows us to provide tailored solutions that address your specific needs.

Accessibility: We strive to make ourselves accessible to our clients when they need us most. Our team promptly responds to all emails, and we are always available for a phone call if you need advice or have a question. You’ll never have to wonder if your records are up to date or if your tax return has been submitted.

Estate Tax Return Service Areas

SD Associates, P.C. provides professional estate tax return services in the Tri-State area. Our service areas include, but are not limited to: 

• Philadelphia, PA
• Bucks County, PA
• Montgomery County, PA
• Chester County, PA
• Lehigh County, PA
• North Jersey
• South Jersey
• Maryland
• Delaware

Call Our Accountants for Estate Tax Returns in Bucks County, Montgomery County, & Philadelphia

Searching for ‘estate tax services near me?’ SD Associates, P.C. is the only name you need to know for estate tax returns in Bucks County, Montgomery County, Philadelphia, and the surrounding areas. Our team can help you file your estate tax return for maximum benefits.. Get in touch with us today to schedule your consultation with one of our estate tax experts.