Webinar

Fiduciary and Tax Accounting Guide for Estates and Trusts

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This course will review the fundamentals of fiduciary accounting and provide a reporting guide for determining whether receipts and expenditures are assigned to income or principal/corpus. Critical issues, rules, and special opportunities when preparing your clients' Form 1041 U.S. Income Tax Return for Estates and Trusts will be examined, including what is considered taxable income and allowable deductions. Planning and potential pitfalls will also be explored.

Major subjects

• Fundamentals of fiduciary accounting
• Uniform Principal and Income Act
• Discretionary Power to Adjust
• Allocations between principal and income
• Estates & Trusts tax bracket
• Form 1041 - Schedule I
• Filing requirements
• Section 645 Election
• Estimated taxes

Learning objectives

• Apply a working knowledge of the financial accounting rules for estates and trusts
• Identify current tax guidelines when preparing a clients estates and trusts return
• Identify planning and potential pitfalls

Who should take this program?

• Practitioners and members in industry seeking to gain a better understanding of fiduciary accounting and tax rules of estate and trusts

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $129.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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Related products

Surgent's The Complete Trust Workshop | Self-Study (Downloadable PDF)

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