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Gary Bode, CPA: if tax preparation of an Estate's Form 1041 gets worrisome, consider calling us at 399-2705 for a free initial consult. I did my own tax preparation for Form 1041, but the Excess Deductions on Termination (Line 11A of Form 1041’s Schedule K-1) can’t be used on my personal Form 1040? Background: Form 706, Form . . . → Read More: Where Do Estate Excess Deductions Go? | CPA in Wilmington NC offers explanation for Schedule K-1 of Form 1041 Gary Bode, CPA: please consider calling us at (910) 399-2705 if you'd like a free initial consult with a Wilmington NC CPA Firm that prepares IRS Form 1041 IRS tax Form 1041 and NC A101 are the Income Tax returns for Estates and Trusts. After Form 1041 tax preparation is complete, a Schedule K-1 is sent to both the IRS . . . → Read More: CPA advice on Schedule K-1 of IRS Tax Form 1041 and NC A101 | Estate and Trust Tax Gary Bode, CPA: Estate planning and family cooperation can avoid the interest and fees of a reverse mortgage A reverse mortgage can be a vital component in personal financial planning. As with all financial transacations, due diligence should be exercised in deciding to utilize a reverse mortgage. During the recession, the number of homes with reverse mortgages . . . → Read More: A Wilmington NC CPA Firm discusses HUD Reverse Mortgages Gary Bode, CPA: If you find self preparation of IRS Form 1041 daunting, please consider calling us at 399-2705 Estates and Trusts file IRS tax Form 1041. Along with NC tax Form A101. Unfortunately, when a loved one passes on, a myriad of unique government obligations arise. Truly bad timing. IRS Form 1041 and NC A101 . . . → Read More: IRS Form 1041 and NC A101 Estate and Trust Tax Preparation by a Wilmington NC CPA CRTs and CLTs: Charitable Giving Combination Trusts With charitable giving becoming popular as part of estate and/or retirement planning, here is an overview of the most popular charitable/retirement (Estate) combination Trusts. I think most of us want to know our retirement is appropriately funded before supporting a charitable cause. This requires solid CPA calculations based on numerous assumptions, including local . . . → Read More: Charitable Remainder Trusts and Charitable Lead Trusts Call Us for Help in Proactively Structuring Major Charitable Giving In my opinion, many charitable institutions prey on the elderly through misleading mail solicitations. The barrage of high pressure requests can be overwhelming, confusing, and ultimately decreases the joy of giving. Sometimes unrequested gifts like address labels, bracelets, pens, etc. are used to instill a sense of . . . → Read More: Accountant Advice on Schedule A, IRS Form 1040 Charitible Donations A Wilmington NC CPA discusses art valuation for the IRS. If you'd like a free initial consult, please call us at (910) 399-2705. The IRS states that in 2006, individual tax payers claimed itemized deductions (for charitable giving) on 147,896 items of art valued at $1.22 Billion. That’s a lot of art work and these stats . . . → Read More: Valuing Art for Charitable Giving or Estate Purposes: IRS Schedule A |
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Copyright by Gary Bode, CPA © 2011 Gary L. Bode, MSA, CPA, pc -Disclaimers- All Rights Reserved |
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