Estate & Trust Tax Preparation Services in Chicago, IL

Our Chicago-based firm offers estate and trust tax preparation services nationwide to help keep you and your family financially secure for years to come. We pride ourselves on offering only the best estate and trust income tax services to businesses and individuals nationwide.

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4000+ Happy Clients
We service 1,000+ businesses and 3,000+ individual clients, many of them located nationwide.
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38 Years of Experience
Since 1986, we’ve provided comprehensive tax and accounting solutions for individuals and businesses.
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Serving 52 States
With our technology stack, we provide remote accounting services for you and your business, regardless the location.

Professionals at Dealing with Fiduciary Tax Laws

Our team of experienced CPAs and financial professionals are experts in fiduciary, estate, and trust tax laws. We have the skill to help you create an effective estate plan that will secure your financial future.

Our Estate & Trust Tax Services

We use our extensive experience and deep knowledge of estate and gift tax planning to help you preserve wealth and make sure every form is filled out to a T.

Estate Tax Planning

Assisting clients in developing comprehensive strategies to minimize estate tax liabilities, including guidance on gifting, charitable giving, and other estate planning techniques.

Estate Tax Return Preparation

Providing expertise in preparing estate tax returns (e.g., Form 706) and navigating the specific rules and requirements associated with estate tax filings.

Trust Tax Return Preparation

Preparing accurate and timely tax returns for trusts, ensuring compliance with applicable tax laws, and maximizing deductions and credits.

Fiduciary Income Tax Return Preparation

Handling the preparation and filing of fiduciary income tax returns (e.g., Form 1041) for estates and trusts, calculating taxable income, and optimizing tax positions.

Tax Planning and Optimization

Developing tax-efficient strategies to minimize tax burdens for estates, trusts, and beneficiaries, while maximizing available deductions, exemptions, and credits.

Estate and Trust Accounting

Assisting with proper accounting and record-keeping for estates and trusts, ensuring accurate financial reporting and compliance with accounting standards.

Estate and Trust Distribution Planning

Providing guidance on the optimal distribution of assets from estates and trusts to beneficiaries, considering both tax implications and the intentions of the grantor.

Gift Tax Returns

Proper gift tax services are essential, especially for those in high-net-worth families. We'll use IRS Form 709 to report all transfers of assets to individuals or trusts.

Tax and Estate Planning for Closely Held Businesses

Our expert team provides tailored solutions  for closely held businesses to minimize tax liabilities, ensure smooth business succession, and preserve wealth for future generations.

Expert Trust Tax Prep

Don’t get bogged down with estate and trust taxes this year, let us take over. Contact our team of tax professionals to get started.

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Individual Trust & Estate Tax Preparation

Are you looking to transfer inherited or newly acquired wealth? If you've accumulated substantial assets in your life, it's time to start estate planning, and with that comes taxes. Minimizing costs from estate and trust taxes is where our team excels. Trust us to take care of your estate, gift, and trust tax preparation. We'll work with you, hand in hand, to understand your individual financial situation and bring you and your family peace of mind.

Individual Trust & Estate Tax Preparation

Our Trust & Estate Tax Preparation Process

We've been adjusting and fine-tuning our trust and estate tax planning process since 1986, staying up-to-date on all compliance laws.

Tax process
  • Schedule an Appointment

    Schedule an appointment with our trust and estate tax experts to review the assets and your contractual responsibilities.

  • Gather Your Documents

    Assemble pertinent documents such as lists of assets and all beneficiary demographic information.

  • Meet With Us

    The next step is to meet with us, either remotely or in our office, to gain a full understanding of the returns to be filed.

  • Expert Filing

    The rest is on us. We’ll file all of your trust and estate taxes in an accurate and timely manner to alleviate any potential financial burden brought on by the death of a family member.

Why Choose Our Estate Tax CPA?

Your finances are always our first priority. That's why we provide unmatched trust tax services that will keep you and your family safe.

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Remote Services

No matter where you’re located in the U.S., you can reach one of our dedicated tax professionals.
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Personalized Approach

To best serve your needs and create personalized solutions, we strive to form a strong and lasting relationship with you.
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Deep Expertise

Our combined 100+ years of professional experience in taxes has prepared our team of specialists for any and all financial situations.
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Our certified CPAs take a powerful, solutions-driven approach to completing your tax preparation and getting you the best results possible.

Client Reviews

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I have been a client of Susan S. Lewis Ltd, for the past 25 years. From practically the inception of her business. Throughout those years Susan and her team have been an excellent provider of tax and consulting services for my family and me. This includes your typical tax returns, trust tax returns, corporate tax returns, retirement planning/discussions, and estate planning.
Michael Rowan
We have been doing business with Susan Lewis since 2005 and are very happy with the accounting and tax services. Sue and her staff are knowledgeable and professional. We trust them. I highly recommend Susan Lewis and her staff and continue with them even tho we are out of state and no longer local.
Jenny Bennish
Been using Susan and staff for over 20 years. Service is prompt and reasonably priced. Very helpful in answering questions for future tax planning. Trust her firm totally.
Roger Morsch
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Trust Tax Preparation FAQs

  • What is Trust Income Tax (Form 1041)

    Trust Income Tax, also known as Form 1041, is a tax form used to report the income, deductions, and tax liabilities of estates and trusts. It is filed by the trustee or executor responsible for managing the assets held in the trust.

  • What is  Estate Tax Return (Form 706)

    An Estate Tax Return, also known as Form 706, is a tax form that must be filed by the executor of an estate to report the estate's assets, calculate the estate tax owed, and pay any applicable estate taxes.

  • What Gift Tax Return (Form 709)

    A Gift Tax Return, also known as Form 709, is a tax form used to report gifts made during one's lifetime that exceed the annual gift tax exclusion amount set by the IRS.

  • What is Illinois estate tax?

    Illinois estate tax is a tax on the transfer of property after an individual's death. The tax is assessed on the estate's overall value after the value of any debts, liabilities, and other deductions are subtracted.

  • Who is responsible for paying Illinois estate tax?

    The executor of the estate is responsible for paying Illinois estate tax. If there is no appointed executor, then an interested party can serve as the administrator of the estate and fulfill this responsibility.

  • When is the Illinois estate tax return due?

    Illinois estate tax returns are due within nine months of the date of the decedent's death.

  • How much does a trust tax return cost?

    It can be difficult to determine an exact price for trust tax returns, as each situation differs. However, as an estimate, for a Form 1041 that covers fiduciary, trust, and estate taxes, a Form 706, used for a decedent's estate, and a Form 990, used for a not-for-profit organization, the minimum fee is $600, $2,000, and $750, respectively.

  • Can a CPA prepare a trust?

    CPAs, unless they are also licensed attorneys, are not responsible for drafting trusts. If you need to draw up a trust, reach out to a licensed attorney. However, a CPA can skillfully prepare your trust income tax returns, as well as check the drafted trust for any potential tax consequences.

Reach Out to Your Trust Tax CPA

Are you worried about your trust and estate taxes this year? Our team of CPAs and financial planners is ready to help with any of your tax preparation needs.

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