Established, Professional & Trusted Tax Consultants
ABOUT US
Our Trusted Services
Schmidt & Associates specializes in the preparation of Individual Income Tax Returns, Ministers Income Tax Returns, Federal Estate and Gift Tax Returns, Fiduciary Income Tax Returns for Estates and Trusts, and Trust and Estate Accounting.
What is an Enrolled Agent?
Enrolled Agents are federally-authorized tax practitioners who have technical expertise in the field of taxation and are empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the Internal Revenue Service (IRS) for audits, collections, and appeals. Their duties and responsibilities include:
- Assessing, analyzing and interpreting tax laws, regulations and standards
- Preparing and filing federal and state tax returns for individuals, businesses and organizations
- Assisting clients with tax planning and advising them on tax-related issues
- Representing clients before the IRS in case of audits, appeals, or collections
- Responding to IRS notices and correspondence, and maintaining documentation of tax returns and other tax-related activities
- Staying updated with the latest tax legislation, regulations and IRS rulings
- Consulting with clients on the impact of new tax laws and planning for future tax situations
SERVICE
Individual
Client Services
Individual Income Tax Returns
Preparation of individual income tax returns—from straightforward filings to the most complex—is handled with precision and care.
Taxation of Ministers
Ministerial tax filings are uniquely nuanced. We handle housing allowances, dual-status employee income, and other special considerations with expertise.
Federal Estate Tax Returns
Form 706 guidance includes determining filing requirements and collecting the necessary details to ensure a thorough and compliant return.
Federal Gift Tax Returns
If a gift exceeds the annual exclusion amount, we assess the need for Form 709 and guide you through the reporting process.
SERVICE
Fiduciary Client Services
Fiduciary Income Tax Returns
Fiduciary returns, whether for simple estates or complex trusts, are completed with attention to financial accuracy.
Trust Accountings
Essential for transparency and compliance, trust accountings also support fiduciary return filings and administrative clarity.
Reconstructive Accountings
Prepared for litigation or dispute resolution, reconstructive accountings help clarify past trust activity and administration.
Conservatorship & Guardianship Accountings
Court-ready accountings are created based on client-provided data and tailored to the specific requirements of each jurisdiction.
Split of Assets
We compile the total value of assets, suggest equitable distributions per trust instructions, and determine date-of-death stock and bond values.