David M. Kaufmann, CPA

Closing out the income tax for trusts and estates is a significant service that we offer.

Over 60% of our clients are estates, trusts, beneficiaries of estates and trusts or receive K-1s.

Our attitude about the services and advice that we provide for you is quite simple.  We want to give you the same advice and assistance that we would like to receive, if we were in your shoes.

Status Of US and Colorado Tax Refund (You will need your tax return(s).)

Member:
 American Institute Of CPAs Tax Division,
Colorado Society Of CPAs

 

What refresher courses should your CPA be taking?
47 Years of professional tax experience.
Other CPAs have chosen us to do their taxes!

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Voice: 720.493.4804

Email: contact2@kaufmann-cpa.com

CO CPA Lic. #6201

Physical Address:

1466 Adobe Falls Way
Fruita, CO 81521

Mailing Address:

PO Box 700
Fruita, CO 81521-0700

Estate and trust related services that I offer:

  • Preparing estate or trust income tax returns, if needed. If there is $600 or more of gross income, these tax returns will be required.

  • Determining whether a final individual income tax return is required for the individual who  died.

  • Determining whether income is taxed to the trust or estate versus taxed directly to the beneficiaries.   Sometimes trust or estate income tax returns are not required.

  • Review of trusts or wills for tax consequences. This includes determining whether capital gains will be taxed at lower rates to beneficiaries or higher rates to trusts or estates.

  • Using the date of death basis adjustments, to minimize or eliminate gains on the sale of trust or estate assets.

  • Helping to request that the brokerage firms compute date of death values for investments.

  • Combining trusts and estates, if possible.

  • Determining the best year end and tax due dates for a trust or an estate.

  • Including elections in the trust or estate income tax returns, to reduce taxes.

  • Helping trustees and personal representatives gather required information from beneficiaries or heirs.

  • Helping trustees and personal representatives set up proper recordkeeping systems.

  • Determining the timing for distributions to beneficiaries and heirs.

  • Determining the proper level of withholding from IRAs.

  • Determining whether and when trust or estate assets should be sold.

  • Analyzing whether a house owned by trust or an estate can be sold at  loss for tax purposes.

  • Preparing tax information forms (K-1s) along with mailing envelopes to send to beneficiaries or heirs.

  • Assisting trustees and personal representatives with closing out trusts or estates.

Other CPAs call me dozens of times a year to get help with difficult tax issues!

Please do not hesitate to call me to setup an introductory phone or in-person meeting.

 

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