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Estate and Trust Accounts

By Nizam Shajani, CPA, CA, MBA October 29, 2020 The management of another person’s personal affairs is a sacred trust that is backed by legal obligations to the guardian or trustee. The Trustee has an obligation to keep trust property separate from their personal assets, retain original documents for every transaction, report to beneficiaries on…

Death of a Tax Payer

Nizam Shajani, CPA, CA, MBA October 26, 2020 While it is a difficult situation when a loved one passes away, this situation may be exasperated with the tax filing requirements for the deceased. Understanding the requirements helps. Planning for this is better, as we are all destined to have this done on our behalf. There…

The Pipeline Plan

By Nizam Shajani, CPA, CA, MBA October 23, 2020 “Life is really simple, but we insist on making it complicated.” Confucius. The estate of business owners often encounters the implacable reality of double taxation. This may occur when the shareholders of an owner managed business pass on without a tax effective estate plan. On death,…