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HOW TO SHIFT INCOME TO BENEFICIARIES

4.4 (99)

Steve Gorin, CPA

Thompson Coburn LLP

Tuesday, August 18, 2020 | 01:00 PM EDT

  • CPA
  • EA

1.5 Credits

FREE

Subject Area

Taxes

Webinar Qualifies For

1.5 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00223-20-O)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0228)

1 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00223-20-O)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00223-20-O)

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

Course Description

Fiduciary Income Tax Refresher and Latest Update 2020 provided an overview of fiduciary income tax strategies. This webinar focuses on non-grantor trusts and provides a closer look at standards for making distributions and explains how the ideas of distributable net income (DNI) and fiduciary accounting income (FAI) interact. Distributions can be made using ascertainable standards (health, education, maintenance, and support (HEMS) or no standard and all (welfare or best interests). We will spend more time on when capital gains are included in DNI and when items that are not FAI are included in DNI.

Learning Objectives

  • Learn how HEMS can be flexible and the estate and gift tax consequences of using HEMS or no standard
  • Discover what items comprise DNI that are not necessarily FAI
  • Learn when capital gains are included in FAI and how to distribute capital gains
  • Uncover how ownership of partnerships and S corporations complicates the interaction between DNI and FAI and what to do about it

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounts Director
  • Bookkeeper
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Outsourced CFO
  • Practice Administrators
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros

Testimonial

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    [average] => 4.3636
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4.4

(99)
48%
41%
8%
2%
0%

MWA

It was a good webinar.