Course

Fiduciary Accounting & Tax Preparation for Estates & Trusts

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Event Details

Wednesday, August 25, 2021

8:00am – 4:00pm
(Registration: 7:30am)

Location

Hilton Garden Inn

2023 Commerce Way

Bozeman, MT 59715

406-582-9900

Field of Study

  • Taxes

CPE Credit

8 hours CPE credit

Course Code

FATP-25

Instructor

Level of Knowledge

Intermediate

Vendor

Van Der Aa Tax Ed LLC

Prerequisites

Experienced CPAs working with estates and trusts.

Description

All materials will be electronic only

This program examines the critical issues, rules, and special opportunities when preparing your clients Form 1041 U.S. Income Tax Return for Estates and Trusts. Learn what is considered taxable income; filing requirements and deadlines; impact of the 3.8% Medicare surtax on net investment income and the 10 principles of tax accounting for trust income.

Highlights

  • 2020 and 2021 rates and brackets
  • Calculating a trust's AGI
  • Filing requirements, deadlines and penalties
  • 3.8% Medicare surtax on net investment income (NII)
  • Simple vs. complex trusts
  • Grantor Trusts: Four options to report activity
  • Fiduciary Accounting and the 10 Principles of tax accounting for trust income
  • Section 643 (g) Election
  • Taxable income of trusts, estate and beneficiaries
  • Deductions
  • Distributions

Objectives

Upon completion of this course you will be able to:

  • Provide a working knowledge of tax rules and guidelines of estates and trusts returns
  • Discuss planning and potential pitfalls

Designed For

Experienced CPAs working with estates and trusts.

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