Trust Tax Services From The Experts

Leading Accounting Firm Serving PA, NJ, NY, DE, & More

Trust Tax Accounting Services in Bucks County, Montgomery County, and Philadelphia

Navigating the fiduciary return process can be challenging, especially if you’ve never overseen a trust before. For fiduciary accounting and tax services, businesses and individual taxpayers rely on our trust accountants in Bucks County, Montgomery County, Philadelphia and surrounding areas. SD Associates, P.C. has been in operation for over 35 years, and we have the experience and knowledge to provide you with accurate and reliable services. Let our team of trust accountants help you minimize the stress of preparing your fiduciary return and maximize your credits and deductions. Contact us today to speak with one of our tax experts or to schedule your consultation.

The Benefits of Professional Fiduciary Tax Services

While it is possible to prepare and file a fiduciary return on your own, there are many benefits to working with a professional tax service. For one, tax laws are constantly changing, and it can be difficult to keep up with the latest changes. A professional tax service will have the most up-to-date information on the latest tax laws and can ensure that your return is filed correctly. Additionally, a professional tax service can help you maximize your deductions and credits, as well as minimize your tax liability.

Our trust accountants in Bucks County, Montgomery County, and Philadelphia can help you with all aspects of your fiduciary return, from preparing and filing the return to maximizing your deductions and credits. We have over 35 years of experience in tax preparation, and our team is dedicated to providing accurate and reliable services.

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 varied services associated with a large company, but is still small enough to provide personalized tax services for fiduciary returns and trusts in Bucks County, Montgomery County, Philadelphia, and the surrounding areas.

High professional standards: SD Associates, P.C. has been evaluated by the Pennsylvania Institute of Certified Public Accountants for quality control, and our work has received the highest possible rankings for quality control. We adhere to all of the American Institute of Certified Public Accountants (AICPA) auditing standards, guidelines, rules and regulations.

Wide client base: We have served large corporations and small businesses alike, with clients including medical practices, legal offices, and wholesalers. Our team has also worked with countless individuals from varied backgrounds, so you know that we have the experience and knowledge to meet your needs.

Personalized service:  When you work with SD Associates, P.C., you’ll be assigned a dedicated team who will get to know you and your business. This allows us to provide the best possible service by understanding your unique needs and objectives.

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. 

Fiduciary Returns & Trust FAQs

What is a trust?

A trust is a legal arrangement in which one party (the trustee) manages assets on behalf of another party (the beneficiary). Trusts are often created for the purpose of managing finances, property, or other assets in order to achieve certain objectives. The beneficiary is able to benefit from the assets in the trust, but the trustee has a legal responsibility to manage those assets in accordance with the terms of the trust agreement.

What are the types of trusts?

There are many different types of trusts, each with their own specific purpose and rules. For example, some trusts are designed to provide income for the beneficiary, while others are created as a way to manage property or assets. Trusts can also be created for tax purposes, such as to minimize estate taxes, or to pay for the cost of a child’s higher education.

What are the responsibilities of a trustee? 

The trustee has a fiduciary responsibility to the beneficiary, which means that the trustee must act in the best interests of the beneficiary at all times. This includes managing the trust assets prudently and in accordance with the terms of the trust agreement. The trustee must also keep accurate records of all transactions and investments made on behalf of the trust, as well as file any required tax returns. When an individual has access to a trust, they are typically able to use the assets in the trust for their own benefit. However, there may be restrictions on how the assets can be used, and the trustee is responsible for ensuring that these restrictions are followed.

What is a fiduciary return?

Any assets in a trust are considered to be taxable income, which means that the trustee is responsible for filing a fiduciary return. The trust return is used to report the income and expenses of the trust, as well as any distributions made to the beneficiaries. The trustee is responsible for ensuring that the correct tax return is filed and that all required information is reported accurately. A fiduciary return must be filed even if there is no income from the trust, as the IRS requires all trusts to file a return regardless of whether or not they have any taxable income.

Fiduciary Return and Trust Tax Service Areas

SD Associates, P.C. provides professional fiduciary returns and trust tax 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 Trust Accountants in Bucks County, Montgomery County, and Philadelphia Today

If you need help with your fiduciary return or trust tax services, our trust accountants in Bucks County, Montgomery County, Philadelphia, and the surrounding areas are here to help. We’ll offer a consultation to discuss your needs, and we will work with you to develop a personalized plan that meets your unique needs. When you leave the stress of preparing your fiduciary tax return to us, you can focus on managing your trust. Contact SD Associates, P.C. today to learn more about our trust tax services or to schedule your consultation.