Virtual
Fiduciary Taxation Part 2: Fiduciary Accounting & Simple Trusts 2023
Date: Oct. 2, 2023
Time: 10 – 11:50 a.m. PT
Member
$89.00
Nonmember
$119.00
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Overview
Part 2 of this webinar series focuses on the concept of fiduciary accounting and its relationship to fiduciary taxation. It also addresses the identification of a "simple trust" for purposes of taxation. Problem examples will cover both the calculation of fiduciary accounting and the taxation of simple trusts through the use of an excel spreadsheet that translates to a completed Form 1041.
Product Code
1000002066-119209
Credit Type
CPE: 2CFP: 2CPE-Technical: 2IRS-TX: 2MCLE: 1.5MCLE LS-TX: 1.5Intended Audience
Tax practitioners, accountants and financial professionals.
NASBA Field of Study
Taxes
Level of Difficulty
Basic
Prerequisites
Fiduciary Taxation Part 1: Introduction to Form 1041
Advance Preparation
None
Learning Objectives
Major Subjects
- Review the Basic Concept of Fiduciary Duty
- Review the Basic Concept of Fiduciary Accounting
- Use of a Diagram to Distinguish Income and Principal
- Calculating Fiduciary Accounting Income
- Requirements of a Simple Trust
- Problem Example Spreadsheets Reflecting Fiduciary Accounting and Taxation of Simple Trusts as well as how Depreciation is Handled by a Fiduciary Entity
- Problem Examples Reflecting a Completed Form 1041 using Spreadsheet Calculations for Fiduciary Accounting and Taxation of Simple Trusts
Faculty
Additional Details
This course was recorded on 5/1/2023. The instructor will be available via the chat feature to answer questions during the presentation.