Estate & Trust Primer

Description

Explore the changing tax code. Protect your clients’ assets and shield their estates from increased taxation brought about by the changing tax code. This webcast helps you understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. With updates from the Tax Cuts and Jobs Act (TCJA), we provide exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms. You’ll also learn how to prepare the federal Form 1041 and the accompanying schedules.

Learning Objectives

• Identify the concepts of federal income taxation of estates and trusts.
• Calculate the gross income of trusts and estates.
• Recall which deductions and credits are allowed for estates and trusts.
• Recall distributable net income and understand its significance.

Major Topics

• How trusts and estates are taxed under the internal revenue code • What is a trust, a simple trust and a complex trust • How the income of a trust or estate is defined for tax purposes • What the ordinary deductions are and what credits are allowed • How the deduction for distributions to beneficiaries are determined • How trust and estate beneficiaries are taxed • What a “grantor trust” is and how it is taxed • How Form 1041 is prepared

Provider
AICPA
Course Level
Basic
Professional Area of Focus
Personal Financial Planning
Practitioners
Tax
CPE Field of Study
Taxes
4.0
Who Should Attend
• CPAs, enrolled agents and financial planners with basic knowledge of federal income tax concepts and an interest in Income Taxation of Estates and Trusts and preparing Form 1041.
Instructor(s)
William Murphy
Location
Online Webcast
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When
Dec 6, 2019
1:00 pm - 5:00 pm EDT
Location
Online Webcast
Total CPE Credits
4.0
Format
Webinar
Instructor
William Murphy

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Estate & Trust Primer


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