GEM706 is a comprehensive program which prepares the Federal Estate Tax Return. If you are using GEMAcct to prepare the estate's accounting, you can transfer all assets, liabilities, and other deductions directly to the appropriate schedule on Form 706. You can then make changes within GEM706 to the information transferred from GEMAcct or add additional items. GEM706 can also be used as a stand-alone program. GEM706 also has state modules for Indiana, Illinois, New Jersey, New York, Ohio, and Wisconsin. Additional state modules will be added in the future.

GEM706 handles all aspects of the return preparation process, including the following:

• GEM706 supports the preparation of all schedules which comprise Form 706, permitting you to enter information and format text with a powerful word processor.
• GEMAcct Gateway permits you to transfer information from the estate's accounting to the appropriate schedule.
• Through Quicken, you can download holdings from thousands of financial institutions to GEMAcct and GEM706.
• GEM709 Gateway permits you to transfer information from past gift tax returns that the decedent filed.
• You can print each schedule and document in PDF format, making it easy to e-mail drafts and the final return to beneficiaries, executors, and other interested parties.
• You can also print the return as either a Word or Excel file, giving you the flexibility to make small changes in the language or format, if desired.
• You can perfect special use elections by preparing Schedule A-1 and by printing reports detailing the threshold requirements, legal descriptions, and valuation methods.
• GEM706 prints a notice of election and threshold report which permits you to defer estate tax attributable to closely held business interests as provided in IRC §6166.
• You can easily perform interrelated calculations where federal or state death taxes are payable out of assets which qualify for the marital or charitable deduction.
• If the decedent's will incorporates a marital deduction formula clause, you can identify an item on Schedule M as the optimum marital bequest, and GEM706 automatically computes the smallest marital deduction amount required to eliminate the federal estate tax.
• If you define the estate's or trust's residue and enter residual bequests, GEM706 automatically recalculates the beneficiaries' shares whenever you perform a tax calculation.
• GEM706 permits you to round calculations to the nearest dollar or to compute the tax accurate to the penny.
• Each item may have a header and unnumbered appendages, and you can reorder items easily by using GEM706's drag/drop feature.
• You can define your own word processing macros, a feature which speeds data entry and provides a more consistent appearance for your returns.
• You can automatically calculate state death taxes for purposes of determining each beneficiary's share.
• GEM706 computes interest on underpayments of federal taxes.
• GEM706 includes a comprehensive manual in a PDF format which you can search, view, or print.
• GEM706 interfaces with EVP Systems, Inc. to value securities as of the decedent's death and the alternate valuation date in accordance with Treasury regulations.

To purchase GEMS, click here.

If you would like to view a demonstration on line, click here.

To download a fully functional demonstration version of GEMS, click here.

If you would like more information about GEM706, e-mail or call our sales department at 888-GEMS706 (436-7706).