Federal Fiduciary Income Tax Workshop Seminar
Agenda
Registration: 8:00 – 8:30 am
Morning Session: 8:30 – 11:45 am
Lunch (On your own): 11:45 am – 12:45 pm
Afternoon Session: 12:45 – 4:40 pm
Income Taxation of Estates: Basic Concepts and Issues
M. Clear
Commencement and duration of estates
Principles of income taxation of estates
Accounting methods
Taxable years
Determining tax period, making estimated payments, filing returns
Income Taxation of Trusts: Basic Concepts and Issues
L. Tashjian
Commencement and duration of trusts
Principles of income taxation of trusts
Importance of grantor trusts in income tax planning
Taxable years
Determining tax period, making estimated payments, filing returns
Fundamental Fiduciary Tax and Accounting Concepts
B. Brunalli
Trust accounting income
Distributable net income
Taxable income
Income Reportable by Fiduciaries
B. Brunalli
Interest and dividend income
Business income and capital gains/losses
Rents, royalties, partnership and other income
Farm income and ordinary income
Deductions Available to Fiduciaries
M. Clear
General rules
Specific deductions
Income distribution deduction
Tax Calculations, Credits, Payments and Special Rules
C. Brew
How to handle taxable income
Available credits
Payment of tax
Special Issues and Situations
M. Clear
Trust and estate distributions
Alternative minimum tax
Net investment income tax
Sample Problems for Form 1041 Preparation
C. Brew
Simple trusts
Complex trusts
Estates
Credits
Accountants
8.0 CPE Hours
New York Attorneys
8.0 CLE Hours
Certified Financial Planners
8.0 CE Hours
IRS Enrolled Agents
8.0 CE Hours
Continuing Education Credit Information
This seminar is open to the public. It offers 8.0 intermediate level CPE hours in the area of taxation to CPAs. Prior knowledge estate planning and taxes is beneficial, and no advance preparation for this course is required. Courses taken from NASBA-registered CPE providers are accepted by the NYSED.
HalfMoon Education Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org. Complaints can also be directed to Doug Chapman at doug@halfmoonseminars.org. Sponsor No. 103015.
HalfMoon Education Inc. is certified by the New York State CLE Board as an Accredited Provider of CLE programs. This traditional format course offers 8.0 CLE hours, consisting 8.0 Areas of Professional Practice hours, which are appropriate for new and experienced attorneys.
HalfMoon Education Inc. is a CFP Board-Registered continuing education Sponsor. The Certified Financial Planner Board of Standards, Inc. has granted 8.0 hours of continuing education credit for the completion of this seminar.
This program qualifies for 8.0 hours of continuing education credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).Course No. NHXDT-T-00052-17-I.
Attendance will be monitored, and attendance certificates will be available after the seminar for most individuals who complete the entire event. Attendance certificates not available at the seminar will be mailed to participants within fifteen business days.
Speakers
Christine M. Brew
Cohen and Wolf, P.C., WestportMs. Brew is an associate in Cohen and Wolf’s Trusts and Estates, Tax, Elder Law and Business & Corporate Groups. Resident in the firm’s Westport office, her practice includes a wide range of estate planning, estate administration, taxation, and corporate matters. Ms. Brew assists clients in achieving their tax and assets preservation goals by providing strategic advice on legal matters related to complex estate planning issues, business succession plans, and corporate structure formation. She also aids clients in preparation and review of estate planning documents, including wills and various trusts, such as revocable, insurance and special needs trusts. Ms. Brew manages all phases of estate administration, including probate, preparation of estate tax returns, and estate tax audits. Ms. Brew is admitted to practice in the jurisdictions of Connecticut, New York, New Jersey and the United States Tax Court. She is a member of the New York and Connecticut State Bar Associations, and the Westchester and Fairfield County Bar Associations. She is also a member of the Westchester Estate Planning Counsel and is the past treasurer of the New Rochelle Bar Association. Ms. Brew also serves as the co-chair of the Tax Section of the Fairfield Bar Association and on Executive Committee and Communications Sub-committee of the Connecticut Bar Association’s Tax Section.
Beth Brunalli
Davidson, Dawson & Clark LLPDavidson, Dawson & Clark LLP, New Canaan, CT
Ms. Brunalli is a partner in the New Canaan, Connecticut office of Davidson Dawson & Clark LLP where she enjoys counseling clients on the technical and practical aspects of estate planning, estate and trust administration, and tax planning. Ms. Brunalli graduated magna cum laude from the University of Notre Dame with a B.A. degree in 2001 and remains an enthusiastic Notre Dame football fan. She earned her J.D. degree from the University of Connecticut School of Law, with a Certificate in Tax Studies, in 2007. She was admitted to practice in Connecticut in 2007 and is a member of the Executive Committee of the Estate and Probate Section of the Connecticut Bar Association.
Michael Clear
Wiggin and Dana LLPWiggin and Dana LLP, in Greenwich, CT
Mr. Clear is the chair of the firm’s Private Client Services Department. Mr. Clear focuses his practice on estate planning, estate and trust administration, probate litigation and business succession planning. Mr. Clear guides fiduciaries and beneficiaries through estate settlement and trust administration matters. He also assists business owners with succession planning by presenting to family groups on business/estate planning matters and by preparing business entities, shareholders’ agreements, buy-sell agreements, and grantor-retained annuities and trusts. He also facilitates the sales/purchases of business assets. Mr. Clear is a co-chair of the Probate and Estates Section of the Fairfield County Bar Association and the president of the Fairfield County Chapter of the Exit Planning Exchange (CT XPX). He received his J.D. degree, magna cum laude, from the Quinnipiac University School of Law, where he served as the Executive Managing Editor of the Quinnipiac Probate Law Journal.
Luke Tashjian
Whitman Breed Abbott & Morgan LLCWhitman Breed Abbott & Morgan LLC, GreenwichMr. Tashjian is an associate in the Firm’s Trusts & Estates, Business Law, and Tax Departments. His practice includes structuring tax efficient transactions; advising clients on the tax effects of proposed transactions; preparing estate planning and corporate documents; probating estates and preparing tax returns; representing businesses in mergers, acquisitions, and sales; forming for profit and not-for-profit entities; and representing parties in tax controversies and collection matters. Mr. Tashjian is the chair of Connecticut Bar Association’s Tax Section, a member of the Executive Committee of the Connecticut Bar Association’s Tax Section, chair of the Connecticut Bar Association’s Tax Section’s Communications Subcommittee, and co-chair of the Fairfield County Bar Association’s Tax Committee.