The Federal, Ohio and local tax structures continue to be complex and challenging for individuals, Executors, Trustees, other estate representatives and estate beneficiaries. Ulinski Law Office offers comprehensive tax planning, preparation and representation in the following areas:
For individuals on an annual basis, and, of special significance, final 1040 preparation for decedents and preparation of 1040’s for estate beneficiaries.
Estate Tax Preparation
Many clients are surprised to lean that in addition to income taxes paid during their lifetime and fiduciary income taxes (income tax on the estate), the estate as an entity is subject to a one time tax by both the Federal and Ohio taxing authorities.
Properly claiming exemptions from each of these tax reporting obligations and coordinating tax reporting between the estate, estate’s income tax and the decedent’s final 1040 is of great importance and is best handled by a professional. Attorney Linda Ulinski will coordinate the various tax reporting requirements and payment of these different tax liabilities.
Fiduciary Income Tax
Estates and Trusts are subject to income tax from the date of the decedent’s death forward, reported either annually, as a calendar year matter, or on a fiscal year basis. Attorney Linda Ulinski will help you understand estate tax obligations.