Trust and estate tax in Scarsdale, Westchester

If you are purely an employee, realistically no. If you own a business or hold a partnership interest, the New York pass through entity tax is the main route and it is worth modeling on your own numbers, because the benefit varies a great deal depending on the entity and the income mix.

The timing of income recognition and whether withholding covers it, which it frequently does not at supplemental rates. For incentive stock options the alternative minimum tax on exercise is the one that produces unpleasant surprises, and the fix is to model the exercise before you do it rather than after.

Possibly the Unincorporated Business Tax, even though you owe no city resident income tax. UBT applies to an unincorporated business carried on within the city regardless of where the owner lives. It catches more Westchester consultants than you would think.

Not a problem, but it is a reporting obligation and often a treaty question. Foreign pensions, foreign accounts and foreign mutual funds, which are usually PFICs, each have their own forms and the penalties are weighted toward non filing rather than non payment.

Not always. Whether a Form 1041 is required depends on the income the estate generates and whether there is a nonresident alien beneficiary. We would rather check than assume, because the penalty for a missed fiduciary return compounds.

With an inventory and the date of death values, because almost everything else depends on them. We work alongside the estate attorney rather than replacing them.

Yes. Form 709 is often worth filing even when no tax is due, because it starts the clock and documents the valuation position.