Need an Estate Tax CPA Near Me in Long Island, NY? Here's Your Guide

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You worked so hard to build your estate. And you also want to know your assets are handled equitably after you are gone. 

But estate taxes will chew up a pretty penny out of your legacy. This is why you need a well-experienced estate tax CPA working with you.

An estate tax CPA knows everything about the tricky taxation rules for trusts, wills, inheritances, etc. They can reduce your tax burden and increase the assets that are passed on to your family. 

If you’re located in Long Island, NY, and you’re in need of an estate tax accountant in your local area, this article will help you choose the right one.

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Why You Should Get an Estate Tax CPA?

You can be assessed estate taxes on up to 40% of your assets above the federal exemption ($12.06 million in 2022). New York also has its own estate tax added on top of the federal tax.

The expertise of an estate tax CPA can guide you through all of this to avoid overpaying. They provide:

• Smart estate planning - They look over your assets and give smart ideas to maximize your taxable estate. This may mean making trusts, giving gifts, or transferring assets.
• Estate Tax Forms- They do all the filing with federal and state tax agencies when a person dies. This guarantees complete compliance.
• Keeping you out of tax audits - If you are audited, your CPA can take care of everything so you don’t pay any fines.
• Plan update as laws evolve - Estate tax laws are intricate and change constantly. — A CPA will adjust your plan accordingly.

To be brief, an estate tax CPA is your guiding light through the death tax enchanted forest. And, because of them, more of your property passes to your heirs. 

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Where Can I Locate an Estate Tax CPA In My Area?

Searching for "estate tax accountant near me" gives you many options. Here are 5 ways you can choose the best estate planning CPA:

Search for the One with Specialized Experiences

The optimum choice is to work with a CPA that is not just an occasional expert in estate taxes. Ask what percentage of their practice is estate tax related. Also ask what they’ve personally done on large estates like yours.

Check their Proofs and Credentials 

The accountant you want should have a licensed CPA with an active New York license that’s in good standing. Verify through the Office of the Professions of the NY State Education Department. Getting an IRS-enrolled agent license (EA) is also a plus.

Find Large Firm Resources

The CPAs associated with bigger accounting firms usually have plentiful assets and specialised personnel. This means you’re confident they can manage whatever curveball your estate throws at them.

Check out Reviews

Google and Yelp reviews to find out what other people have said about it. Search for CPAs that have an enviable reputation with many years of positive reviews. Watch out for fake brief reviews.

Interview Them

It’s 100% OK to interview a couple CPAs first before you make a decision. Check out their character, skill level and manner of speaking prior to making a commitment. 

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How to Interview a Potential Estate Tax CPA

If you’re looking for the right estate CPA in Long Island, prepare with questions. Here are a few to recommend:

• How long have you been in the estate taxes business? So how many estate tax returns have you filled out?
• How do you go about crafting thoughtful estate plans?
• What attorneys do you hire to help with your estate planning?
• What are your education and qualifications? Are you an Enrolled Agent?
• You also act for clients in IRS/state estate tax audits? What are the findings?
• How are you keeping up with developments in estate taxation? What will you do if the law changes?
• Have you dealt with any estates like mine? What did you do to keep their taxes down?
• Where do I get updates about the status of the return, tax laws changes, etc?
• What are your estate tax planning and preparation fees?

A CPA in estate tax can be your partner to make the benevolent gift to those you love. So put the work into looking for one that you feel at ease with and who you can count on. Then sit back and let the world know that your estate is secure.

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Get the Long Island, NY Estate Tax CPA That’s Right for You!

When you’re searching for "trust accountant near me", "estate CPA near me" or "inheritance tax attorney near me", heed the guidelines above. 

Do your homework and do your research before you hire the best estate planning CPA. They will save you a lot of money with effective tax avoidance.

To begin immediately, call our CPAs with expertise in estate tax at The CPA Group!

Long Island residents like you have been using our services to make the most of estate wealth for decades.