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Tax and Accounting Services

An executor’s fiduciary duties include paying continuing expenses; for instance, mortgage(s), property taxes, utilities, and homeowner’s and auto insurance premiums. The executor must also pay income taxes and file an income tax return for the year in which the person died.

An executor frequently needs advice and has to supply accounting records for:

  • Fiduciary accountings for estate or trust
  • Detail investment performance and provide reports
  • Tax planning to minimize taxes for an estate, trust or beneficiary
  • Capital gains and losses
  • Prepare cash flow reports, income statements and  balance sheets
  • Calculate fiduciary commissions
  • Assign assets and transactions for beneficiaries and draw up schedules

 

NJEPRC’s  estate accountants and CPA’s specialize in filing all the tax documents that an executor or administrator will require. Call NJEPRC for a free consultation.