Estate & Inheritance Tax

Many San Francisco residents are fortunate enough to have not only high incomes but high net worth. This can include a business, stocks and bonds, or other financial assets which they want to pass down to their heirs. Our tax advisors can optimize your estate to minimize estate taxes both in California and in federal regulation.

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Inheritence & Estate Tax Planning

Our CPA firm and accountants can work hand-in-hand with your estate planning attorneys on better estate planning options. We can help to minimize estate, inheritance, or other forms of assets. We can even help with succession planning and tax minimization for your San Francisco Bay Area business or other California entity.

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Inheritence & Estate Tax

You’ve worked hard to build your San Francisco business, net worth, or other assets. Let our team of best-in-class estate planning accountants work to minimize your California and/or federal inheritance taxes. We can even help with succession planning as tax professionals.

Download our FREE Estate Planning Guide

San Francisco IRS Audit Defense and FTP DefenseWe have partnered to co-produce an informative guide to estate planning for San Francisco Bay Area residents. Simply click to obtain your free San Francisco Bay Area estate planning guide. Please remember, however, that no two San Francisco Bay Area families are alike. Call us for a free consultation on how to minimize inheritance or estate taxes as part of comprehensive estate planning. We’re happy to work with your attorneys as well.

Inheritance or Estate Taxes Can Be Planned For

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Generally, when a deceased person’s estate value exceeds a certain threshold, a federal form 706 (U.S. Estate and Generation Skipping Transfer Tax Return) must be filed within nine months after the deceased person’s date of death and any due taxes paid at that time. In most circumstances, one or more additional filings state income and trust tax return(s) are also due at that time. Failure to file the returns and/or pay the tax due in a timely manner could result in loss of tax benefits and significant additional penalties and interest. The amount saved can be as high as 10% to 15% of the gross estate. (To learn more about estate taxes, see the IRS website, here.)

If a client would like Safe Harbor LLP CPA’s to prepare the estate and/or income tax returns, they can contact Safe Harbor LLP for a free 15 minute consult with an expert CPA.

Estate and Inheritance Tax CPA and Accountant San Francisco

Often, those with inheritance tax issues have business tax issues as well; a business is often part of the estate. Safe Harbor works with a wide array of businesses, including technology firms, legal services, and even non-profits, offering them the best tax services and tax preparation available. Our expert San Francisco CPAs (accountants) have years of tax preparation experience who work with S Corporations, C Corporations, LLC’s, and Partnerships of all types. Regardless of size, we can help your business minimize your tax expenditures. Our business tax service is just the beginning!

San Francisco Bay Area and Estate Taxes

Property in the San Francisco Bay Area exceeds national values across the spectrum, and many Bay Area residents have substantial business or other holdings in assets, as well as international tax exposure. Especially as successful people age, it is possible that their estates exceed the minimum Federal tax. In addition, many Bay Area residents seek to pass wealth to their children or, while living, to help those children build a business or finance an education. Gifting is a good tax strategy, if one understands the restrictions and gift tax implications. Our tax experts can help Bay Area residents plan to minimize estate, inheritance, or gift taxes where possible.

Confused? Stressed? We can help.

Understanding scenarios involved in the estate tax can be daunting and emotional. No one likes to think about the end times, but part of one’s legacy is to help non-profits, children, family, or friends and to do so in such a way as to minimize federal estate taxes. Successfully addressing and planning for estate tax issues can give one piece of mind to enjoy life and think of one’s legacy as an on-going asset.

Updated: 9/27/2016