Tax Preparation & Planning
We view our relationships with our clients as ongoing partnerships, and we pledge to provide you with quality, up-to-date tax return preparation and advice, whatever your tax planning and preparation needs.
Individuals, LLCs, Partnerships, and Corporations
Our dedication to you doesn’t stop after April 15. All through the year, we keep up to date on current tax laws to minimize your tax liabilities and to maximize your profits. Our team of professionals can serve as business partners by providing pro-active tax planning and consulting advice throughout the year—aimed at enhancing your wealth. We can help identify mistakes and hidden opportunities that could be keeping you from financial security.
Estate & Trust Income Tax Return Preparation
We also prepare fiduciary income tax returns, known as IRS Form 1041, which is used to report income of estates and trusts. The estate of a deceased person becomes a separate taxable entity upon the death of the individual taxpayer. A trust is a separate entity created either at death by the decedent’s will or during life whereby a trustee takes title to property for the purpose of administering and protecting it for the benefit of beneficiaries. Fiduciary income taxation is a specialized area of tax law. There are elections that can be made to minimize tax to the estate, trust, and beneficiaries. We can work with you to help you determine if an estate or trust is subject to income tax, provide income tax planning to minimize tax, and prepare Form 1041 for your estate or trust.
Our firm also prepares gift tax returns, known as IRS Form 709, and estate tax returns, known as IRS Form 706. A gift tax is imposed on the transfer of ownership of property to an individual where full consideration is not received in return. The estate tax is a tax on your right to transfer property at death. The federal estate and gift taxes are really one tax, called the unified gift and estate tax. Gift and estate tax returns are complex, and we are here to help our clients in this multifaceted area of tax law.
Our firm also prepares the annual filings for exempt organizations. We can file any of the annual reports required for your organization. These filings include the annual postcard (Form 990-N) for small not-for-profit organizations, Form 990 series (990EZ or 990) for medium-to-large organizations, or Form 990-PF for organizations that are private foundations. We also prepare filings required by the State of Indiana for exempt organizations. Our staff is available to assist with the filing of an exemption application to become a not-for-profit organization if you are looking to start a new organization.