We understand the unique challenges families face as they go through the estate planning process. With so many changes in estate tax law over the past decade, and more being predicted in coming years, that challenge becomes even more daunting.  

Zivetz, Schwartz & Saltsman offers experts in estate and inheritance tax planning. Our CPAs and advisors work hand-in-hand with families and their attorneys to provide more valuable estate planning options. This helps our clients secure a lasting legacy with value-added insight on managing estates, inheritances, and other forms of inheritance.

Planning for Estate Taxes

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 date of death. Any taxes due, including one or more additional state income and trust tax return filings, must also be paid at that time. This is a major burden for family and loved ones and comes with a significant level of risk. Failure to file the returns and/or pay the tax due in a timely manner could result in a loss of tax benefits and significant penalties and interest. Planning ahead provides peace-of-mind to loved ones and strengthens a legacy.

Often, persons with estate tax issues have business tax issues as well; as a business is often part of the estate. ZSS CPAs works with a wide array of corporations and businesses in California, including construction, entertainment, real estate and manufacturing offering the best tax services available. Our CPAs have over 100+ years of tax preparation experience working with S Corporations, C Corporations, LLC’s, and Partnerships of all types. Regardless of size, we can work to minimize tax expenditures.

Navigating Estate Taxes

Property in California often exceeds national values across the spectrum, and many residents have substantial businesses or other holdings in assets, as well as international tax exposure. As successful persons mature, there is an increasing possibility that their estates exceed the threshold for filing an estate tax return. In addition, many California residents seek to pass wealth to their children or to help them build a business or finance an education. Gifting can be a beneficial tax strategy, if one understands the restrictions and gift tax implications. Our tax experts can help California residents plan to minimize estate, inheritance, or gift taxes wherever possible.