Estate & Trust Primer

Overview

You could pay $0 for this course!


Protect your clients' assets and shield their estates from increased taxation brought about by the changing tax code. This CPE course will help you to understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. The course provides exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms. You will also learn how to prepare federal Form 1041 and the accompanying schedules.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course to be eligible. The course code for this program is C-11359. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

• Types of trusts • Trustee powers • Recognition and realization of income • Elements of an estate • Taxation of trusts and estates • Basic concepts of estate planning

Designed For

CPAs, enrolled agents, and financial planners with basic knowledge of federal income tax concepts, and an interest in Income Taxation of Estates and Trusts and preparing Form 1041.

Objectives

When you complete this course, you will be able to: • Identify the elements of trusts and estates. • Recall the filing requirements for estates and trusts. • Indicate how electing small business trusts are taxed. • Identify which deductions and credits are allowed for estates and trusts. • Recall the significance of the Uniform Principal and Income Act (UPAIA).