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Tuesday, November 15, 2022 Live Webcast

Fiduciary Accounting and Tax Issues of Estates and Trusts (E2211171)

9:00 AM - 4:30 PM EDT

Registration: 8:30 AM EDT

webcast

Vendor Platform

4 CPE Credits in AA
4 CPE Credits in TX

OVERVIEW

Fiduciary income tax is a complex blend of state accounting rates and the tax law of Subchapter J. Only by understanding this interaction can the practitioner acquire the skills and knowledge to provide income tax planning for an estate or trust and its beneficiaries, sure to be an important skill in practice in the new income tax environment.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

All practitioners who wish to learn about the complex and unique accounting issues for estates and trusts

BENEFITS

  • Distinguish fiduciary accounting income from taxable income and distributable net income
  • Account for distributions for accounting and tax purposes
  • Identify how the fiduciary income tax return differs from individual income tax
  • Understand state law on principal and income

HIGHLIGHTS

  • Review of major legal and tax concepts
  • Concepts of fiduciary accounting: principal and income
  • The Uniform Principal and Income Act: how specific state laws on principal and income apply to common expenditures and receipts
  • How fiduciary accounting determines the timing and amount of distributions
  • The crucial differences between fiduciary accounting and tax accounting
  • Distinguishing fiduciary accounting income from distributable net income
  • Splitting income between the fiduciary and the beneficiaries: distributable net income
  • How to set up an accounting system for an estate or trust, prepare a judicial accounting, and record-keep for fiduciary accounting
  • How practitioners can handle audits of estates and trusts
  • Various exercises and problems

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Charles Borek

Charles A. Borek, CPA, J.D., M.B.A.

Surgent Professional Education

Charles A. (“Chuck”) Borek, CPA, J.D., M.B.A., Chuck Borek is the founder of the Borek Group, LLC, a professional education and consulting firm located in Columbia, Maryland, where he serves as CEO and chief counsel. In addition to his professional education and consulting activities, he continues to practice tax and business law as Of Counsel to the law firm of Davis, Agnor, Rapaport, & Skalny, LLC and regularly appears before the IRS and in U.S. Tax Court. He is an attorney, CPA, author, and frequent lecturer on a variety of topics associated with law, accounting, and taxation. Borek served as editor-in-chief of law review and was awarded the 1993 Law Faculty Award for outstanding scholarship, leadership, and service at the University of Baltimore. After practicing law for several years in Baltimore, he was appointed associate professor of accounting and business law at Prince George’s Community College and later served as a visiting assistant professor of law at the University of Baltimore School of Law and, following the conclusion of his visitorship, he practiced public accounting as a principal in a Washington D.C.-area CPA firm for five years. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. He currently holds an appointment as adjunct professor of law at American University’s Washington College of Law. Borek received his joint law degree and MBA summa cum laude from the University of Baltimore School of Law and Merrick School of Business.

PRICING

$289.00 - Member

$439.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

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COURSE DEVELOPER

Surgent

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