Estate Tax Planning

Estate Planning as Part of the Form 1040 Interview


Introducing the topic of estate planning during client interviews can even help with overall income tax planning as the two topics are often related. Contributor Mike Pusey, CPA explains.



Mar 1st 2022
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When interviewing clients this tax season, despite the obvious emphasis on income tax, keep in mind the importance of estate planning as it can benefit both you and the client.   

For example, there may be advantages to lifetime transfers to take advantage of the current transfer tax exemption, but there are also income tax basis considerations (See also the author’s “Checklist for Working With a Decedent’s Estate,”,  5/19/21).  The emphasis here is a multitude of topics with brevity toward the goal of discovering client needs and areas of possible interest. Our narrative may be a brief discussion or even Q&A in style.

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