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.” In this series of webcasts and 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.
• Review Typical Fiduciary Entities
• Determine the Fiduciary Accounting & Taxation of the Entity
• Recognize the difference between Fiduciary Accounting & Taxation
• Introduction to the Different Fiduciary Entities
• Fiduciary Tax Rates and Brackets
• The Medicare Surtax as it pertains to Fiduciary Entities
• Introduction to Subchapter J
• 5 Basic rules & Steps to Calculating the Income Taxation of Trusts & Estates
• Creating a Tax Spreadsheet
• Fiduciary Duty and the Duty to Account
• Introduction to Fiduciary Accounting
Tax practitioners, accountants and financial professionals.
This webinar is produced by CalCPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.