If a family member has passed away, you’ll have a lot on your plate during what’s almost certainly an emotionally trying time. If the deceased individual was a taxpaying adult, you can add filing final tax returns to your to-do list. You’ll need to file the decedent’s final Form 1040 as usual, accounting for income and expenses up to the point of death. You may also need to file paperwork related to estate taxes, especially if you’re able to quickly sell off assets and property. With so many forms to keep track of, it can help to have a skilled tax professional on your side. In and around Virginia Beach, you can count on the experienced pros at Taxation Solutions, Inc. We’ll be there for you when things are tough!
The decedent’s final tax return will vary depending on several factors:
- Is there a surviving spouse?
- Was the individual a business owner, or otherwise self-employed?
- Did he or she pay child support or spousal support?
- Were there medical expenses prior to death that can be claimed as deductions?
- And a number of other questions
Taxation Solutions, Inc. will help you sort all of this out. We have the knowledge and skill to provide competent and compassionate tax help. You’ll be able to breathe easy knowing that you’re getting the tax assistance you need to move forward. Call or e-mail us today to get started.