Review the fundamentals of the fiduciary entity, fiduciary accounting and taxation. From inception to completion, practitioners analyze Form 1041, using a spreadsheet to track necessary calculations for accurate preparation.
A review of recent tax law changes that impact Form 1041. Tools and schematics to navigate problem situations. Increased comprehension to review a Form 1041 submitted by another practitioner.
Identify the basic components of a fiduciary entity.
Review the state and federal laws that drive a fiduciary entity.
Recognize the relationship among the different authorities that impact accounting and tax treatments.
Determine tax law changes that impact Form 1041 and analyze Form 1041 from inception to completion.
Identify how to review a Form 1041 submitted by another practitioner.
Introduction to the fiduciary entity
Fiduciary accounting fundamentals
Subchapter J, DNI and the Distribution Deduction
Simple and complex trusts
Alternative Minimum Tax (AMT) for fiduciary entities
Form 1041 updates
Special problem situations
Tax practitioners, accountants and financial professionals.