Fiduciary Accounting & Tax Planning for Estates & Trusts

Instructor

Doug
Van Der Aa

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.

This course only qualifies for 2 IRS credits.

*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

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

Major Topics

- Fundamentals of fiduciary accounting
- Uniform Principal and Income Act
- Discretionary Power to Adjust
- Allocations between principal and income
- Trust accounting
- 3.8% Net Investment Income
- Form 1041
- Schedule I
- Section 645 Election
- Simple or complex trusts

CPE Credits Available

4 CPE

2: Accounting
2: Taxes

Things to Know About This Course

Course Level

Intermediate

Professional Area of Focus

Accounting

Advanced Preparation

None

Intended Audience

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

Provider

ACPEN

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Price includes $0.00 early registration discount(s) - expires 9/16

Price includes $0.00 early registration discount(s) - expires 9/16
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Price includes $0.00 early registration discount(s) - expires 9/16

Price includes $0.00 early registration discount(s) - expires 9/16

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