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 not that simple. Estates are valued under the valuation principles established by The Internal Revenue Service. How you would value something, may be different than how we are required to value an estate under the IRS Code. Further the date of valuation is quite important given the fact that the values will vary based upon the date of the valuation.
Estate tax laws are extremely complicated. Contact us today. Utilizing the services of a professional is the only way to protect the assets of an estate.
If you are having problems with your Estate Tax Credit Chicago Illinois or have issues with your accounting in general, we would love to help. I enjoy hearing from my readers, and can be contacted at
Chris@AccountingSolutionsltd.com
Additional Accounting Articles and information on my firm can be found at
www.AccountingSolutionsLtd.com
Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals