Fiduciary Taxation: Back to Basics-Part 1 of 4 WEBAST

Monday, November 1 8:00am - 9:50am PDT

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2.0 Credits

Member Price $79.00

Non-Member Price $109.00

Overview

Form 1041 is considered a complicated return by many practitioners and the complexities have increased with legislation enacted in 2012 and 2017. This stems from the fact that there is terminology specific only to fiduciary entities, special accounting rules that fall somewhere between book and tax, and odd calculations such as “distributable net income” and “deductible DNI.” Through a series of schematics and spreadsheets, some of the mystery will be removed from the workings of fiduciary taxation and replaced with an understanding of the structure and consistency that underlies this interesting little entity that has been around since the Crusades and has a long history of use and effectiveness.

Highlights

Introduction to the different fiduciary entities. Fiduciary tax rates and brackets. The Medicare Surtax as it pertains to fiduciary entities. Introduction to Subchapter J. Five basic rules and steps to calculating the income taxation of trusts and estates. Creating a tax spreadsheet. Fiduciary duty and the duty to account. Introduction to fiduciary accounting.

Prerequisites

None.

Designed For

Tax practitioners, accountants and financial professionals.

Objectives

Review typical fiduciary entities. Determine the fiduciary accounting and taxation of the entity. Recognize the difference between fiduciary accounting and taxation.

Preparation

None.

Notice

None.

Leader(s):

Leaders

Jacqueline Patterson

Jacqueline A. Patterson, JD, MBT, CPA, is a partner in the Los Angeles based firm of Haney, Buchanan & Patterson, LLP. She is a member of the California State, Los Angeles, and Beverly Hills Bar Associations. Ms. Patterson has written and facilitated full day tax seminars in the areas of corporate taxation, the income taxation of trusts and estates, tax research and planning, real estate transactions, charitable trusts and received the Foundation’s Meritorious Service Award in 2000.

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Non-Member Price $109.00

Member Price $79.00