Taxation of Trusts and Estates and Preparing Form 1041 (Full-DayProgram) (Completed)
Date: Monday, February 26, 2018
Instructor: Steven G. Siegel
| Begin Time: |
7:00am Pacific Time
8:00am Mountain Time
9:00am Central Time
10:00am Eastern Time |
| CPE Credit: |
8 hours for CPAs
8 hours Federal Tax Related for EAs and OTRPs
8 hours Federal Tax Law for CTEC
8 hours Tax Planning for CFP |
|
Get Expert Tips and Tactics for Trusts and Estates and 1041 Prep
With more and more trusts being used today and audits of Form 1041 (U.S. Income Tax Return for Estates and Trusts) on the rise, it has never been more critical to understand the ins and outs of income taxation of trusts and estates and the preparation of the Fiduciary Income Tax Return. Recent shifts and changes in the taxation of estates and trusts have also changed some of the planning techniques that practitioners should consider when advising clients.
Presented by noted tax and estate planner, author and educator, Steve Siegel, J.D., LL.M., this full-day CPE online webinar (8 hours CPE credit) provides a practical review of issues and considerations that arise in connection with the income taxation of trusts and estates and preparing Form 1041. Mr. Siegel will offer clear explanations and helpful tips on this important topic, so you can advise your clients with confidence. And he will draw on his many years of experience in advising a wide variety of clients to provide a helpful line-by-line review of what must be done to accurately complete Form 1041 and address problems faced in this complex area.
All tax preparers, accountants, attorneys and financial planners who advise clients on tax planning, estate planning and wealth management matters will benefit from this practice-oriented seminar. The session's program materials include a comprehensive and detailed outline prepared by Mr. Siegel that will serve you for later study and reference. And, to reinforce your understanding and get help on your most pressing issues, you will have opportunities to submit questions directly to Mr. Siegel live during the program.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Who Should Attend
This course is essential for CPAs, CFPs, enrolled agents, estate planners, tax attorneys and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.
Topics Covered
- Understand the Operative Documents
- Estates: Basic Concepts and Issues
- Trusts: Basic Concepts and Issues
- Tax Years
- Return Filing Requirements
- Estimated Payments
- Simple, Complex and Grantor Trusts
- The Qualified Revocable Trust Election
- Fiduciary Tax and Accounting Issues
- How Fiduciary Income is Defined
- Trust Accounting Income and DNI
- Income Items Reportable by Fiduciaries
- Deductions Available to Fiduciaries
- New IRS Regulations Addressing the 2% Floor
- Tax Calculations, Credits and Payments
- Distributions in the Year of Termination
- Distributions in Kind
- Alternative Minimum Tax on Trusts and Estates
- Impact of the Net Investment Income Tax on Trusts and Estates
- Sample Practical Problems with Completed Forms — How to Approach Form 1041 Preparation in Different Situations
Learning Objectives
- Help clients make the right choices in estate and trust planning
- Understand the concepts of fiduciary income taxation
- Describe the various trust options available in estate planning
- Prepare a Form 1041 correctly
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (8 hours)
Program Prerequisites
Basic knowledge of federal wealth transfer taxes
Advance Preparation
None
