Fiduciary Accounting Part 2: Tools, Rules and Relationship to Tax 2024
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(Check-In 12:30pm EST)
Virtual
2.00 Credits
Member Price $89.00
Non-Member Price $119.00
Overview
To properly account for estates and non-grantor trusts, an advisor must understand the statutory requirements to account, the proper classification of revenue and expenses in a chart of account and the importance of provisions in the estate planning document. Additionally, the differences and similarities to fiduciary taxation must be understood.
Highlights
• Setting up a chart of accounts • Reviewing the estate plan • Distinguishing between “income” and “principal” • Understanding the relationship of fiduciary accounting to fiduciary taxation
Prerequisites
Fiduciary Accounting Part 1: Fiduciary Duty Basics & Authority - UPIA (UFIPA) 2023
Designed For
CPAs and financial professionals.
Objectives
• Determine fiduciary accounting from the entity’s financial records • Recognize whether a receipt or disbursement is income or principal • Identify the distribution provisions in the estate plan
Preparation
None
Non-Member Price $119.00
Member Price $89.00