When You're Not Even Sure What the Questions Are, It's Time to Call For Reinforcements
Welcome to my website. If you are looking for answers to questions about your trust tax return filing, you are in the right place. As a CPA with over 30 years of experience, I understand tax law and I am here to help you find solutions to your tax filing requirements as a Trustee.
In fact, making sense of that pile of documents you are overwhelmed with is my specialty.
When I am not working my way through a maze of trust tax documents, I like to explore places I’ve never seen before. As an amateur photographer, traveling gives me a lot of opportunities to discover new things. But no matter how many other explorers before me have walked the same path, each new place always presents new possibilities for those curious enough to explore further. I look at the work I do as a CPA in a similar way.
Everyone has their own story. Sometimes that means walking you through the administrator process, and other times it might mean putting my detective hat on and finding answers to complex issues before they become costly mistakes. Because we know that tax return
obligations don’t end at death.
In the next decade, economists’ project that one of the largest transfers of wealth will take place in the United States as a generation of baby boomers will assume the role of trustees and executors responsible for the administrative proceedings of their families or friends assets. Managing that process often requires the assistance of an experienced CPA specializing in fiduciary tax law. This is especially true since most trustees are inexperienced and unaware of the responsibility and the liability that comes with being a trustee or an executor of an estate. Not unlike learning a foreign language, understanding what information you need before you know you needed it, can be frustrating.
That’s where I come in. With over 30 years’ experience, my firm is in a unique position to provide clients with creative solutions to manage their responsibilities. Building connections with those involved, including the attorneys, financial planners, insurance agents, and realtors, can be a real asset in keeping the process running smoothly. Which means that’s one less thing you have to worry about. Let us work with you! To learn more about the entire scope of accounting and tax services offered by Ellen H. Friestad CPA, and how we can help minimize your taxes, contact us now.
* Guiding the Trustee through the financial reporting process from beginning to end
* Assisting the Trustee to ensure a smooth process for a complex process
* Assessment of your situation to establish the level of support needed
* Flexible consulting options
Tax Planning and Tax Return Preparation
* Tax planning to successfully and legally reduce tax liability
* Federal and State trust income tax preparation
* Fiduciary returns for living trusts and probate
* Preparation of trust accounting reports in accordance with California Probate Code
* Detailed transparent reporting of every transaction for which the Fiduciary is responsible
* Calculation of monies due to Beneficiaries
Q: My parents have passed away. Where do I start? How do I figure out where their bank accounts are located? Do I sell the house?
A: We can help you find the answers to those questions by guiding you through your parent’s documents.
Q: My Mother passed away five years ago. Last year I sold her house that was in a living trust. Can you help me with filing the tax return?
A: Yes! We have helped many Trustees file their tax returns who were in this exact situation.
Q: My sibling passed away and he didn’t have a living trust. I am in the process of Probate Court to sell the house.
Can you help me with filing the tax return?
A: Situations like yours will require a trust tax return. With easy to understand guidelines, we will help you through the process.
Please call us at 909-392-0117 to discuss the next step.
Q: My Aunt and Uncle passed away and I am the Trustee. They own a lot of assets and named several beneficiaries.
I have no idea what to do or even where to find the required documents. I’m feeling completely overwhelmed. Can you help me?
A: Yes! Providing the assistance, you need to gather the appropriate documentation for a completed tax return, as well helping you in
reporting the transactions to the beneficiaries is our specialty!
Ellen H. Friestad, CPA – Founder
Established in 1990 offering general accounting services, it was the firm’s expertise in Trust accounting that eventually developed into a
concentrated area of focus. Earning her Bachelor of Science Degree in Business with an accounting emphasis, Ellen attended California State Polytechnic University, Pomona. Ellen and her husband Ron have two adult sons, a zest for traveling, photography, camping and exploring what Nature has to offer.
Joseph Croft, CPA – Income Tax Preparation
Having launched his own CPA firm in 2017, Joseph brings with him an extensive background in public accounting supplemented with his experience in internal audit and industry. He earned his Bachelor of Science in Accounting at Brigham Young University in Hawaii.
Monique Marino – Staff Accountant
Assisting with accounting, bookkeeping, payroll and income tax preparation since 2012 when she first joined the firm, Monique brings a
valuable continuity of service for our clients. Monique earned her Bachelor of Science Degree in accounting from California State Polytechnic University, Pomona.
Address: 2377 W. Foothill Blvd., Suite 12, Upland, California 91786
(By Appointment Only)
Mailing Address: P.O. Box 7753, La Verne, California 91750