Fiduciary Income Tax Refresher and Latest Update 2020

4.3 (1322)

Steve Gorin, CPA

Thompson Coburn LLP

Friday, December 18, 2020 | 01:00 PM EST

  • CPA
  • CFP
  • EA
  • CTEC
  • PFS
  • AFSP

Credits: 2 CPE | 2 CE


Subject Area


Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CPE credit of for Maryland Tax Preparers

2 CE credit of Federal Tax Update for Oregon Tax Preparers

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

In this webinar, the presenters will discuss tax-savings tools that can be used between now and tax season when preparing 2019 returns. " THE PRESENTERS WILL PROVIDE A TOP-TEN LIST OF PLANNING TIPS TO HELP ATTENDEES SAVE INCOME TAX GOING FORWARD " – tips that can help not only CPAs but also lawyers involved in drafting or trust administration. A brief overview of the Uniform fiduciary Income and Principal Act (UFIPA), the 2018 restatement of the Uniform Principal & Income Act, will be included.


  • Code § 199A Pass-Through Deduction for Qualified Business Income.
  • Types of Income and Activities Eligible or Ineligible for Deduction
  • Calculation of Deduction Generally
  • Strategic Fiduciary Income Tax Planning
  • Tips for Fiduciary Income Tax Preparers
  • Trust Accounting Income Regarding Business Interests

This course shall also cover for participants the core concepts of trust and estate income tax preparation. The course explains the common terminology and complicated income tax rules of estates and trusts, fiduciary accounting, and an introduction to or refresher on preparing Form 1041. 

Learning Objectives

  • Learn how UFIPA will help trustees optimize income tax results and actions to take when drafting estate plans whether or not UFIPA has been enacted in your jurisdiction
  • Learn the impact of U.S. Supreme court case on state fiduciary income taxation
  • Get refreshed on tools to save income tax overall when considering the trust's or estate’s and beneficiaries’ overall income taxes

Who Should Attend?

  • Enrolled Agent
  • Tax Practitioners
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Pros
  • CPA (Industry)
  • Tax Firm
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Accounting Practice Owners
  • Chief Accounting Officer
  • Tax Managers
  • Accounting Managers





A highly beneficial webinar offering extraordinary amount of information in three large files of from 100+m to 400+ annd finally 2400+ pages of related data. The data must have been an extremely time consuming job of gathering the dat for the benefit of the webinar attendees. This was one webinar you do not want to miss if it is offered at a later date


Alot of material covered in the 1.5 hours so moved along very quickly-always referred to the page number which was really helpful-downloaded some of the additional material he referred to-look forward to the upcoming webinars he is presenting


This webinar was very helpful to me in understanding and to explore my expertise, quite of interesting topics discuss by Steve which is very valuable to me understand more about topic, thank you Steve


Steve did an excellent presentation including a review of multiple trust topics plus some deep dives into specialized trust areas that enlightened me. Really appreciate the resource materials provided and access to his newsletters


Praise GOD! I got some valuable pointers that I can share with my clients. They have questions about inheritanced estates etc. and this particular webnar is an asset that will help me to explain better what's going on. I especially like the insight he shared regarding him leaving an inheritance for his twins and how no one will have to fuss over who needs the money most


Steve Gorin, CGMA, CPA, Doctor of Law (J.D.) has once again provided an excellent presentation on Fiduciary Income. He helps make complicated concepts easier to understand. An excellent presenter.