topic Finding CPA for Special Needs Trust Tax Planning/Preparation in Get your taxes done using TurboTax

Finding CPA for Special Needs Trust Tax Planning/Preparation

Michael16 — Wed, 29 Jan 2025 21:29:04 GMT

I'm the trustee on a Special Needs Trust (SNT) established in 2024. The legal side of the trust is taken care of by our special needs and estate planning attorney but I'm in need of a qualified CPA to prepare and file the SNT tax returns.

I've had little success finding a CPA that specializes in SNTs. Can anyone provide advice on how to find a qualified CPA in my state that understands the nuances of SNTs for tax planning and preparation?

Re: Finding CPA for Special Needs Trust Tax Planning/Preparation

rjs — Wed, 29 Jan 2025 23:06:18 GMT

Ask your attorney to recommend a CPA or an Enrolled Agent (EA) who can handle the taxes for your Special Needs Trust.

Do you know anyone else who has a Special Needs Trust? Ask them who they use for taxes.

You might need a firm rather than an individual practitioner.

Re: Finding CPA for Special Needs Trust Tax Planning/Preparation

Michael16 — Wed, 29 Jan 2025 23:52:14 GMT

Thanks for this.

I've asked our attorney who recommended a group, but I've called twice now and they've yet to return my call.

I've read about filings for SNTs and for our situation it doesn't sound terribly complicated (since it's a grantor SNT, I could probably do it myself, but I'd feel better having a professional guide me through at least the first year). I could also use someone with a deeper understanding of coordinating the SNT with an ABLE account and other special tax planning considerations.

It's been tough separating the wheat from the chaff when it comes to CPAs.

Re: Finding CPA for Special Needs Trust Tax Planning/Preparation

BillM223 — Thu, 30 Jan 2025 00:21:26 GMT

You might look at your state's society of CPAs (in Texas, it's the Texas Society of Certified Public Accountants); they may be able to give you a list of CPAs who claim expertise in this area. They might not be able to recommend a single best one, but it may turn out that you have only one such firm in your area (which would solve your problem).

Re: Finding CPA for Special Needs Trust Tax Planning/Preparation

Michael16 — Thu, 30 Jan 2025 02:09:34 GMT

This is really helpful. I've searched firms and advisors using my state's society of CPAs and found a few that look promising. I appreciate the suggestion.