The field of fiduciary accounting and taxation has been in transition for the past several years, with updated fiduciary accounting rules and the increased tax cost of accumulating income in a non-grantor trust. The income tax rate structure changes at the Federal and state levels have pulled income tax planning forward as a prime objective for estate planners. The rules and understanding of fiduciary accounting continue to be in a state of development and challenge. It is an understatement to say that fiduciary accounting and taxation have entered a new and very different phase of complexity and change. We will explore many of these issues in Parts 1-4 of Form 1041 Workshop. Form 1041 Advanced Workshop Part 1 | Form 1041 Advanced Workshop Part 2 | Form 1041 Advanced Workshop Part 3 | Form 1041 Advanced Workshop Part 4
The need to understand the different calculations generated by the multiple authorities and disciplines Modeling to minimize the tax cost to the trust while maintaining the grantor’s intent. Deep dive into IRC Secs. 67(e) , 67(g) & 642(h). Overview of passive activity rules as they pertain to a fiduciary entity.
An understanding of the basics of Form 1041, fiduciary accounting and taxation.
Tax practitioners, accountants and financial professionals.
Review issues and updates for fiduciary entities. Develop an approach to fiduciary accounting and taxation. Recognize the tax cost of accumulating taxable income in a trust. Develop a modeling spreadsheet to track all the numbers Recognize the impact of new legislation on trusts and estates. Identify Issues with fiduciary entities that hold passive assets.
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.
Non-Member Price $119.00
Member Price $89.00