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Save Your Estate Some Taxes: Start Gifting Now

Countless individuals make gifts to charity every year not only to support their favorite philanthropic causes but to also take advantage of tax savings in the form of a deduction on their 1040 income tax return. As you may be well aware from conversations with your accountant or tax preparer, there is no similar income…

Income Taxes and the Estate Executor

It often comes as a surprise to an estate executor that they may have the obligation to file two income tax returns for the estate in the year following death. The executor has the responsibility to file and pay the deceased person’s final income tax return and any unfiled returns. Also the Executor may have…