Trust Accounting Income: The Fundamentals
Overview:
Everyone knows that Trusts come in two flavors: Simple and Complex. There are different ways of calculating the trust accounting income for each. The laws vary from state to state making it challenging for CPA’s to keep up on the latest changes to the law. Trust Accounting Income: The Fundamentals LIVE Webcast has been designed to give CPA’s a solid foundation when it comes to addressing critical issues. Our panel of key thought leaders and experts will guide you through the important issues surrounding Trust Accounting Income including:
- Making the calculations
- Key issues to consider
- Best practices
- Up to the minute regulatory updates
- State by state comparisons
Joining this webcast will give you a solid understanding of the key issues that you must be aware of when dealing with Trust Accounting Income. This webcast will help you advise your clients with confidence and authority. To register for this important event please click the “Register” button below. Hurry as class size is limited.
Agenda:
SEGMENT 1: James C. Calzaretta, Partner, Deloitte Tax LLP 1. Discussion of fiduciary duty, its relevance and how it may impact the calculation of trust accounting income. 2. Discussion of relevant authority, governing instrument, state law and UPIA 3. Discussion of the interplay between TAI and tax items such as DNI and taxable income. 4. Discussion of more important UPIA provisions (distributions from entities, tax distributions from entities, power to adjust) SEGMENT 2: Jacqueline A. Patterson, Esq., Founding Partner, Haney Buchanan & Patterson, LLP 1. The duty to account as a fundamental obligation of the trustee 2. The duty of impartiality among and between beneficiaries 3. The importance of the Chart of Accounts 4. The allocation of receipts and disbursements between income and principal 5. Tax allocations that are based on fiduciary accounting income SEGMENT 3: Steven B. Gorin, Partner, Thompson Coburn LLP Uniform Law Commission amended Section 505 of the Uniform Principal & Income Act (the
Who Should Attend:
- Finance Manager - Finance Executive & Director - Finance Officers - Trust & Tax Attorneys - Accountants & Consultants
Jim has nineteen years of experience providing tax consulting and compliance services to a variety of clients. Jim is a …
Jacqueline Patterson is a founding partner in the law firm of Haney, Buchanan & Patterson, LLP and specializes in tax, …
Steven B. Gorin is a partner in the St. Louis office of the law firm of Thompson Coburn LLP, which …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
93926
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
About Deloitte Tax LLP
Website: https://www.deloitte.com/
About Haney Buchanan & Patterson, LLP
About Thompson Coburn LLP
Website: https://www.thompsoncoburn.com/