On-Demand

2 CPE Credits

Best Practices in Board Governance: Not-for-Profit Governance and Assurance

On-Demand
2 CPE Credits
A comprehensive guide to estate planning and the taxation of trusts. The tax strategies behind estate planning Estate planning is vast and complicated. A fundamental understanding of estate and trust taxation is essential to helping clients plan for their futures. Topics include: - Tax obligations of trusts and estates, and how these obligations affect beneficiaries - The federal income taxation of trusts and decedents’ estates, along with the tax effects of specific scenarios for beneficiaries - Planning options that can minimize your clients’ taxes while accumulating income and the distribution or transfer of wealth to intended beneficiaries Detailed explanations of complex estate and trust concepts Learners build their understanding of the unique tax issues affecting trusts and estates, including: - The taxation of simple and complex trusts, grantor trusts, and electing small business trusts - Fiduciary accounting and the Uniform Principal and Income Act - Deductions and credits available to trusts and estates Part of Tax Staff Essentials Level 3 This self-study online course is part of Tax Staff Essentials Level 3, a comprehensive learning program that provides senior- and supervisor-level tax professionals with the technical training required to take a leadership role on their teams. This course can be purchased individually or as part of the Tax Staff Essentials Level 3 bundle. Who Will Benefit - CPAs - Financial advisers - Estate attorneys Key Topics - Types of trusts - Trustee powers - Recognition and realization of income - Elements of an estate - Basic concepts of estate planning Learning Objectives - Identify the elements of a trust. - Recognize the difference between principal and income as defined by the Uniform Principal and Income Act (UPAIA). - Identify tax payment and reporting requirements for estates and trusts. - Distinguish between simple trusts and complex trusts. - Recall when a grantor has a reversionary interest. - Recall how pooled income funds are taxed. - Recall the filing requirements for estates and trusts.

Learning Objectives

Basic

CPE Credits Available

2 CPE Credits
2
Business Management and Organization

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Business & Industry; Future Ready

Prerequisites

None

Intended Audience

  • A comprehensive guide to estate planning and the taxation of trusts. The tax strategies behind estate planning Estate planning is vast and complicated. A fundamental understanding of estate and trust taxation is essential to helping clients plan for their futures. Topics include:
  • Tax obligations of trusts and estates, and how these obligations affect beneficiaries
  • The federal income taxation of trusts and decedents’ estates, along with the tax effects of specific scenarios for beneficiaries
  • Planning options that can minimize your clients’ taxes while accumulating income and the distribution or transfer of wealth to intended beneficiaries Detailed explanations of complex estate and trust concepts Learners build their understanding of the unique tax issues affecting trusts and estates, including:
  • The taxation of simple and complex trusts, grantor trusts, and electing small business trusts
  • Fiduciary accounting and the Uniform Principal and Income Act
  • Deductions and credits available to trusts and estates Part of Tax Staff Essentials Level 3 This self-study online course is part of Tax Staff Essentials Level 3, a comprehensive learning program that provides senior
  • and supervisor-level tax professionals with the technical training required to take a leadership role on their teams. This course can be purchased individually or as part of the Tax Staff Essentials Level 3 bundle. Who Will Benefit
  • CPAs
  • Financial advisers
  • Estate attorneys Key Topics
  • Types of trusts
  • Trustee powers
  • Recognition and realization of income
  • Elements of an estate
  • Basic concepts of estate planning Learning Objectives
  • Identify the elements of a trust.
  • Recognize the difference between principal and income as defined by the Uniform Principal and Income Act (UPAIA).
  • Identify tax payment and reporting requirements for estates and trusts.
  • Distinguish between simple trusts and complex trusts.
  • Recall when a grantor has a reversionary interest.
  • Recall how pooled income funds are taxed.
  • Recall the filing requirements for estates and trusts.

Provider

AICPA

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