— Tax Services
Estate Tax in New Jersey
Navigating the estate tax landscape in New Jersey can be complex, but Presti & Naegele is here to guide you. With over 40 years of accounting expertise, our extensive estate tax services are designed to protect your assets, ensure compliance, and provide peace of mind. Whether you're planning ahead or managing an estate after a loss, we deliver clarity and precision in these critical financial matters. From the bustling Atlantic City boardwalk to the tranquil beauty of the Pine Barrens, we appreciate what makes New Jersey unique.
OUR SERVICE
P&N's Expert
Estate Tax Services
At Presti & Naegele, we empower individuals and businesses through expert advisory services. With personalized guidance, we build enduring partnerships and contribute to sustained success.
What Is the Meaning of Estate Tax?
Estate tax is a federal levy on the total valuation of a deceased individual's assets at their passing. These assets—ranging from real estate and investments to business interests and personal property—are classified by the IRS as the "gross estate." At Presti & Naegele, we assist New Jersey clients in grasping what's included, how valuations occur, and how to minimize liabilities through strategic planning and precise filing.
Our estate tax service ensures we cover each detail—from identifying all taxable assets to calculating deductions and filing federal estate tax returns. We work closely with executors, trustees, and family members to simplify the process and avoid costly mistakes.
Do You Have to Pay Taxes on Money Given to You When Someone Dies?
Generally, beneficiaries don't pay taxes on inherited assets, but there are significant exceptions. For example, distributions from tax-deferred retirement accounts may incur tax consequences. Additionally, estates in New Jersey may face federal and state taxes before distributing assets.
Presti & Naegele brings true value here. Our estate tax experts clearly outline what's taxable, find ways to reduce estate tax exposure, and manage the detailed documentation required by the IRS and New Jersey authorities. We ensure heirs receive their inheritance with minimal tax impact.
Proudly Serving All Over the U.S.
Why Estate Tax Services Matter More Than Ever
Handling estate tax isn't solely about forms and numbers; it's about preserving legacies, reducing family stress, and maintaining what you’ve built over a lifetime. At Presti & Naegele, we understand the emotional and financial burden of settling an estate. That’s why we provide not just tax calculations, but also trusted advice and unwavering support.
Our estate tax services resolve key challenges:
✔ We help prevent legal pitfalls and penalties from incorrect filings in New Jersey.
✔ We ease stress for families during difficult times.
✔ We uncover tax-saving opportunities others might miss.
✔ We ensure full IRS compliance, giving you peace of mind.
Who Benefits Most from Estate Tax Services?
Our estate tax services are essential for:
✔ High-net-worth individuals in New Jersey looking to plan their estate proactively.
✔ Executors and trustees managing complex or high-value estates.
✔ Families committed to ensuring a loved one's wishes are respected and protected.
✔ Attorneys and financial advisors seeking reliable CPA partnerships.
Whether it’s your first time dealing with estate tax or you want to shield your estate from future liabilities, Presti & Naegele offers the clarity and strategy you need.
Long-Term Value That Extends Beyond the Estate
What sets Presti & Naegele apart is our ability to provide value long after the estate is settled. From helping families establish trusts and gifting strategies to advising on succession planning, our firm becomes a financial ally for life. Our insights and services go beyond estate tax—they build enduring financial resilience.
Why Choose Presti & Naegele for Estate Tax Services?
Presti & Naegele combines expert proficiency with a personalized approach. Here's why clients in New Jersey and beyond choose us:
✔ Decades of experience navigating estate tax laws and regulations.
✔ Personalized guidance from CPAs who care about your family’s future in New Jersey.
✔ Proactive strategies to maximize tax efficiency and preserve assets.
✔ A full-service firm with advisory, valuation, and forensic services for all financial needs.
At Presti & Naegele, we don’t just prepare your estate tax return—we prepare you for what's next.
Frequently Asked Questions About Estate Tax
How is estate tax calculated?
Estate tax is calculated based on the gross estate value, which includes all assets you own or control at the time of your death. This value is reduced by allowable deductions such as debts, funeral expenses, and charitable contributions. The resulting taxable estate is then assessed at the current federal estate tax rate. Our team ensures all possible deductions are accurately accounted for to reduce your estate tax liability.
What is the federal estate tax exemption?
As of 2025, the federal estate tax exemption allows individuals to transfer a certain amount—over $13 million tax-free—to heirs before estate tax applies. Married couples can often double this amount. Presti & Naegele helps you plan within these thresholds and recommends gifting strategies and trusts to optimize your exemption usage.
Is there a difference between inheritance tax and estate tax?
Yes. Estate tax is levied on the deceased’s estate before distribution to heirs, while inheritance tax is imposed on the beneficiaries after they receive their inheritance. New York does not have an inheritance tax, but understanding state and federal differences is essential. We guide you through both, ensuring full compliance and strategic planning.
What happens if an estate tax return is filed late?
Filing late can result in substantial penalties and interest. Executors are legally responsible for timely submission, which is why engaging an experienced accounting firm like Presti & Naegele is crucial. We meet all deadlines, handle extensions when necessary, and protect you from unnecessary penalties.
Can estate taxes be reduced or avoided?
Yes—through effective planning. Options include gifting during your lifetime, setting up trusts, charitable contributions, and leveraging the marital deduction. Our CPAs craft personalized strategies to significantly reduce estate tax exposure and preserve more of your legacy for future generations.
GET IN TOUCH
Let's talk about how we can improve your business.
Elevate your business with tailored solutions. Let's discuss strategies for growth, efficiency, and lasting success.
Trust & Estate and Gift Tax Preparation - Website Form
Tailored Solutions for Financial Success
Explore Our Comprehensive Services at Presti & Naegele Accounting Offices
P&N INDUSTRIES
Industries We Serve
Our company consists of an extensive team of highly specialized professionals that are intimately familiar with the industries they work in and the customers they serve.
OUR LOCATIONS
MORE THAN JUST ACCOUNTING
Great Clients
Awesome Reviews
Discover the transformative experiences shared by our satisfied clients. In their own words, they highlight the impact of Presti & Naegele's expert tax services, client accounting precision, and strategic guidance on their financial success. Read our reviews to gain insights into the personalized and enduring partnerships we've forged.
I have had my business for more than 10 years and struggled through several *truly awful* accountants. I found Presti & Naegele about 5 years ago and have never looked back. They are a life-changing breath of fresh air and they will be my accountants for as long as I live.
Andy and the whole Presti Naegele team have been game changers as accountants for our business. My previous accountant was very hands-off and not accessible. Andy and his team are always available, willing and able to roll up their sleeves no matter what we throw at them. Highly recommend - do NOT hesitate to work with them!
