Federal Fiduciary Income Tax Workshop

Charles Hadad, Chair of the Estates and Trusts Practice Group, will join Michele Conti, Mary Jo Corsetti, and Erik Scully in teaching the Foxmoor Continuing Education seminar, Federal Fiduciary Income Tax Workshop. The program takes place from 8:00 a.m. – 5:00 p.m. on Thursday, June 25 at the Double Tree Hotel Greentree in Pittsburgh. The seminar is open and offers continuing education credits to accountants, attorneys, certified financial planners and IRS enrolled agents.

Program Agenda:

Estate Taxation: Basic Concepts and Issues
Commencement and duration of estates
Principles of income taxation of estates
Accounting methods Taxable years
Determining tax period, making estimated payments, filing returns

Trust Taxation: Basic Concepts and Issues
Reviewing federal and state tax law
Commencement and duration of trusts
Principles of income taxation of trusts
Simple trusts, complex trusts, grantor trusts
Determining tax period, making estimated payments, filing returns

Handling Key Tax and Accounting Issues
Electing to treat a qualified revocable trust as part of the estate
Calculating distributable net income and taxable income

Income Reportable by Fiduciaries
Interest and dividend income
Business income and capital gains
Rents, royalties, partnership, and other income
Farm income and ordinary income

Deductions, Calculations, Credits, and Payments
Specific deductions
Handling taxable income
Answering questions and making elections
Applying the separate share rule

Handling Distributions and Calculating the Alternative Minimum Tax
Handling special types of distributions
Accumulation distributions and distributions in excess of DNI
Calculating alternative minimum tax

Applying the New Medicare Surtax to Trusts and Estates
The Medicare surtax on net investment income
Active vs. passive activities
Planning considerations and strategies

Reviewing Sample Completed 1041 Forms and Schedules
Calculating income and deductions for estates, including final year tax issues
Treatment of income and deductions for simple trusts
Calculating income and deductions for complex trusts

Pittsburgh Estate Planning Attorneys

Chuck Hadad leads the Estates and Trusts team at The Lynch Law Group. For more information on this seminar or estate planning matters, contact Chuck at chadad@lynchlaw-group.com or 724- 776-8000.

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