September 9, 2022 8:00am – 9:50am Map & Directions 602-252-4144

Webcast: Form 1041 Advanced Workshop-Part 3 of 4

Description

Trusts are old entities and go as far back as the Crusades when we were an agrarian society, and the only asset of any value was the land and what was produced on the land. Therefore, dividing the benefit in trust between income and principal was logical and worked efficiently for a long time. However, times have significantly changed, and trusts are often invested in assets that don't involve land, and these assets also have great value. Often the value lies in their growth and not the income they produce. New rules have developed in the fiduciary accounting area, and they provide elections that often make favorable results to the trust and the beneficiaries. This section of the 1041 Workshop will explore those elections. Form 1041 Advanced Workshop Part 1 | Form 1041 Advanced Workshop Part 2 | Form 1041 Advanced Workshop Part 3 | Form 1041 Advanced Workshop Part 4

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

7:30am

Fees

Member:
$75
Non-CPA Staff:
$101
Non-CPA Staff (100% club):
$75
Non-CPA Staff (sole proprietor):
$75
Non-Member:
$101
Webcast
Taxation
2

Objectives

  • Understand the Impact of Making Fiduciary Accounting Elections
  • Review Accounting Rules for Distributions from Entities
  • Review California Law Changes for Prob. C Sec. 16350

Course Level

Intermediate

Vendor

CalCPA Education Foundation More With This Vendor

Designed For

Tax practitioners, accountants and financial professionals.

Prerequisites

Form 1041 Advanced Workshop Part 2

Highlights

  • Basic Fiduciary Accounting Problem
  • Problem Example with Reserve for Depreciation
  • Problem Example with Separate Accounting for Business Assets
  • Problem Example with Separate Accounting for Business Assets with Reserve
  • Fiduciary Accounting for Distributions from Entities

Notes

None

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