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Accounting and Tax Planning for Estates and Trusts

  • 03/15/2021
  • 8:00 AM - 12:00 PM
  • Webinar - CPA Crossings



This program gives an introduction to fiduciary (book) accounting, the allocation of receipts and disbursements between income and principal under the Uniform Principal and Income Act, including how it impacts the calculation of the income distribution deduction for complex trusts on the Form 1041. Critical issues concerning preparing client's Form 1041 will be addressed, with a focus on the impact of the new Section 199A 20% deduction on trusts, estates and beneficiaries.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:

  • Identify financial accounting, tax rules and guidelines of estates and trusts
  • Determine potential pitfalls and planning ideas
Program Content:
  • Introduction to fiduciary accounting
  • Distinction between "income" and "principal"
  • Discuss Uniform Principal and Income Act
  • 2019 rates and brackets
  • Section 199A pass-through income
  • Excess business losses and Form 461
  • Filing deadlines and extensions
  • Simple or complex trust?
  • Grantor trust

Designed for: Those seeking to grow their knowledge regarding tax planning for estates and trusts

Level: Intermediate

Instructor: Douglas J. Van Der Aa, CPA, JD

CPE Credits: 4

Area of Study: Taxes

Prerequisite: Basic working knowledge of estate and trusts.

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