Saturday, February 18, 2012

My mother passed away...not what do I for taxes?

Question: My mother passed away in May of 2011. All she received was SS and a pension from my deceased fathers work. What is involved with finalizing her taxes. She did have a very small home that was left to my sister and I which we have started renting to my daughter @ $600 a month with the first payment coming in 2012. Thanks and by the way I am going to be scheduling to have you do my business/personal taxes, as well as my daughters taxes which are simple but she also is going thru a divorce.

I am certainly sorry to hear about the loss of your mother. We can certainly assist you with all of these issues. Your mother's taxes will require us to understand more of the specifics about the situation and based on that review we will let you know exactly what is needed. When you come in your appointment we can discuss the specifics, but basically we will need to file a final tax return for your mother and we may need to file an estate tax return based on how the estate was handled. We certainly will need to discuss the rental property which now is shared with your sister. Give us a call when you have a moment and schedule an appointment and we will review all of these items and I will certainly assist you. Good hearing from you and I look forward to seeing you soon.

Handling the final affairs of our loved ones can be tricky, so call Ralph V. Estep, Jr., of Saggio Accounting+PLUS and he will assist you in making sure everything is done correctly. Call us today to schedule your appointment at 302-659-6560 or visit our website

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