Review the fundamentals of the fiduciary entity, fiduciary accounting and taxation. From inception to completion, practitioners analyze Form 1041, using a spreadsheet to track necessary calculations for accurate preparation.
A review of recent tax law changes that impact Form 1041. Tools and schematics to navigate problem situations. Increased comprehension to review a Form 1041 submitted by another practitioner.
- Identify the basic components of a fiduciary entity.
- Review the state and federal laws that drive a fiduciary entity.
- Recognize the relationship among the different authorities that impact accounting and tax treatments.
- Determine tax law changes that impact Form 1041 and analyze Form 1041 from inception to completion.
- Identify how to review a Form 1041 submitted by another practitioner.
Level of Difficulty:
- Introduction to the fiduciary entity
- Fiduciary accounting fundamentals
- Subchapter J, DNI and the Distribution Deduction
- Simple and complex trusts
- Alternative Minimum Tax (AMT) for fiduciary entities
- Form 1041 updates
- Special problem situations
Tax practitioners, accountants and financial professionals.
This course will adjourn at 4 p.m.