Chicago Accounting Articles
Jul 21, 2015
Updated July 21, 2015 Estate and Trust Accounting Chicago Illinois Almost twenty years ago, I picked up my first estate and trust accounting case. I went to a small private high school on Chicago’s North Side, and one of my friends father’s had just...
Feb 28, 2013
Updated July 24, 2015 Estate and Trust Tax Rates Chicago Illinois Tax Rate Schedule for Trusts and Estates For Tax Years beginning in 2011 If Taxable Income is Over But Not Over The Tax Is Of The Amount Over $0$2,30015%$0 2,3005,450345 + 25%$2,300...
Feb 28, 2013
Updated July 24, 2015 Estate Tax Credit Chicago Illinois What is the Estate Tax Credit? The estate tax credit in 2014 is over $5,000,000. Estates valued under this amount are not required to file form 706, the estate tax return. But it’s...
Feb 28, 2013
Updated July 22, 2015 Income in Respect of Decedent Chicago Illinois Income in respect of a decedent is all amounts to which the decedent was entitled in gross income, but which were not included in computing taxable income on the final return. Examples...
Feb 28, 2013
Updated July 22, 2015 Gift Tax Return/Generation Skipping Tax Return/Form 709 Chicago Illinois The United States Gift and Generation Skipping Transfer Tax Return or Form 709 is the return used when any donor transfers a gift over the annual exclusion....
