Gift Tax Return Experts You Can Rely On

Top CPAs Serving PA, NJ, NY, DE, & More

Gift Tax Return Services in Bucks County, Montgomery County, & Philadelphia

The IRS imposes a gift tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The gift tax applies to both real and personal property, including money, stocks, bonds, and cars. If you have given a gift that falls under the IRS criterion, you are required to fill out a special tax form. This can complicate your tax preparation and put you at risk for an audit.

At SD Associates, P.C., we have over 35 years of experience preparing gift tax returns for our clients. We will work with you to determine the value of your gift and make sure that all the necessary paperwork is filed correctly. Filing a gift tax return does not have to be stressful – let us help you take care of it. Contact us today to speak with one of our tax experts or to schedule your consultation.

The Benefits of Professional Gift Tax Help

When it comes to your taxes, it’s always best to err on the side of caution and seek professional help when needed. This is especially true when it comes to filing a gift tax return, as there are many complex rules and regulations that must be followed. Here are some of the benefits of working with a professional tax accountant to file your gift tax return:

• • Avoid penalties and interest. The IRS imposes strict penalties for errors and omissions on gift tax returns. by working with a professional, you can be confident that your return will be filed correctly and on time, avoiding any costly penalties or interest charges.
  • Get peace of mind. Tax preparation can be a complex and stressful process. By working with a professional, you can rest assured that your return is being handled by an expert who knows the ins and outs of the gift tax laws.
  • Save time. Filing a gift tax return takes time and attention to detail. By working with a professional, you can free up your time to focus on other important things in your life.
  • Save money. A professional can help you take advantage of all the deductions and credits you’re entitled to, which can save you money on your taxes.

Gift Tax Return FAQs

What is a gift tax return?

A gift tax return is a special tax form that must be filed with the IRS in certain situations where property is transferred from one individual to another without receiving anything, or less than full value, in return. The tax is not levied on the individual receiving the gift, but on the person giving the gift. In certain cases, the receiver may agree to pay the tax.

What kinds of gifts need a tax return?

The IRS imposes a gift tax on the transfer of any real or personal property, including money, stocks, bonds, and cars. If you have given a gift that falls  over the IRS threshold, you are required to fill out a special tax form. Oftentimes, medical and educational expenses do not qualify as ‘gifts’ and do not need a gift tax return. Other exclusions include gifts to your spouse and gifts to a political organization for official use.

What are the penalties for not filing a gift tax return?

The IRS imposes strict penalties for errors and omissions on gift tax returns. by working with a professional, you can be confident that your return will be filed correctly and on time, avoiding any costly penalties or interest charges.

Why SD Associates, P.C.

Unparalleled service: Our accounting firm is the best kept secret in the tri-state area. Our full-service accounting team company offers the wide range of services associated with a large company, but is still small enough to provide personalized gift tax returns in Bucks County, Montgomery County, Philadelphia and surrounding areas.

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 client base is broad, and includes individuals, partnerships, corporations, LLCs, non-profit organizations, and more. We have a wealth of experience in many different industries. This allows us to be a versatile firm that can easily handle many types of tax returns, including gift tax returns.

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 and give you a better experience overall.

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.

Gift Tax Return Service Areas

SD Associates, P.C. provides professional gift 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

Contact Your Gift Tax Return CPA in Bucks County, Montgomery County, & Philadelphia

SD Associates, P.C. is a full-service accounting firm that has been serving the Philadelphia and surrounding areas for over 35 years. We offer a wide range of services, including gift tax return preparation, estate planning, and more. Our team of experienced professionals is dedicated to providing high-quality service and personalized attention to each of our clients. Call today to learn more about gift tax returns in Bucks County, Montgomery County, and Philadelphia, or to schedule a consultation with one of our tax experts.