Agenda

Webinar instructions will be emailed before the date of the webinar.

Please log into the webinar 15 – 30 minutes before start time.

Thursday, October 21, 2021 
8:30 am – 4:40 pm CDT (incl. a 60-min break)

 

Presented by:
Christian A. Klaas, CPA, MST
Ryan Wirtz, CPA, MST

Agenda
Trusts and Estates Overview Including Tax Considerations

Basic framework for typical estate plan
Taxation of estates: estate tax overview
Taxation of estates: income tax overview
Taxation of trusts overview
Grantor trusts: income tax overview
Various unique types of trusts

Principles of Fiduciary Income Taxation
Trust accounting income
Distributable net income
Simple trusts
Complex trusts
Special rules

Income Taxation of Estates and Simple and Complex Trusts
IRS Form 1041, line by line
Income
Dividends
Capital gains
Other income
Expenses and deductions
Credits
Alternative Minimum Tax (AMT)
Other concepts from Form 1041 and schedules

Practical Examples to Put It All Together
Section 642(c) election example
QSST example
Simple and complex trust examples
Grantor trust example
Final year example

 

 Webinar Instructions

Each webinar session earns continuing education credit and can be registered for individually. All attendees must log-on through their own email – attendees may not watch together if they wish to earn continuing education credit. HalfMoon Education Inc. must be able to prove attendance if either the attendee or HalfMoon Education Inc. is audited.

Certificates of completion will be provided for each webinar attended and will be sent via email in PDF form about five business days after the conclusion of the series.

Webinars are presented via GoToWebinar, an easy-to-use application that can be run on most systems and tablets. Instructions and login information will be provided in an email sent close to the date of the webinar. It is highly recommended that you download, install and test the application before the webinar begins by clicking on the link in the email.

GoToWebinar App requirements:
Windows 7 – 10 or Mac OSX Mavericks (10.9) – macOS Catalina (10.15)

Web Browser:
The two most recent version of the following browsers:
Google Chrome, Mozilla Firefox, Apple Safari, Microsoft Edge
Internet Explorer v11 (or later) with Flash enabled


Internet connection:
 Minimum of 1Mbps       Hardware: 2GB RAM or more

For more information, visit the Support section at www.gotowebinar.com

Credits

Accountants:
8.0 CPE Hours

Enrolled Agents:
8.0 CE Credits

Attorneys:
6.5 Illinois CLE Credit Hours

Financial Planners:
8.0 Credit Hours

 

Continuing Education Credit Information

Federal Fiduciary Income Tax Workshop
This live, intermediate level lecture presentation offers 8.0 CPE hours in the area of taxation to accountants. A basic knowledge of federal taxation is recommended, and no advance preparation is required.

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. Sponsor No. 103015.

The Illinois MCLE Board has approved this course for 6.5 general credit hours.

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 webinar.

This webinar provides 8.0 continuing education credit hours for enrolled agents and other tax return preparers under Treasury Department Circular #230 Section 10.6(g). See each listing for the credits that are available.

In-person 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.

Completion certificates will be awarded to participants who complete this event online, respond to all prompts, and earn a passing score (80%) on the quiz that follows the presentation (multiple attempts allowed).

Speakers

Christian A. Klaas CPA MST

Friedman & Huey Associates LLP – Homewood, IL
Mr. Klaas is a partner at Friedman & Huey Associates, LLP. He specializes in fiduciary, estate and individual income taxation and working with large family groups. Mr. Klaas taught as an undergraduate/graduate tax instructor at Purdue University Northwest. He received his B.S. degree with concentrations in Accounting and Finance from Purdue University Northwest and received his M.S. degree in Taxation from DePaul University. He has spoken on various occasions presenting on taxation of decedents, estates and trusts. Mr. Klaas serves as a 1041 subject matter expert for a national tax software development firm, has edited various professional publications and is an active member of the Chicago Estate Planning Council and Illinois CPA Society.

Ryan Wirtz CPA MST

Friedman & Huey Associates LLP – Homewood, IL
Mr. Wirtz is a senior manager at Friedman & Huey Associates, LLP. He specializes in fiduciary, charitable and individual income taxation and working with large family groups. Mr. Wirtz received his B.S. degree in Accounting from Purdue University Northwest and received his M.S. degree in Taxation from DePaul University. He also is member of the Illinois CPA Society.

Streamable MP4/PDF Price: $299.00

Currently, our self-study products DO NOT qualify for AIA, LACES, ASLA or CLARB credit.

This disclaimer cover the following product types…

  • Streamable MP4/PDF
  • USB MP4/PDF

Streamable MP4/PDF

Streamable self-study formats are available approximately 1 week after the date of the live event.

The streamable self-study package includes an MP4 format video recording of a live webinar and a PDF of the manual that was distributed for the webinar. You will receive a PDF of the course manual. The manual contains written materials prepared by the seminar speaker(s).

Completion of an online follow-up quiz is required for those seeking continuing education credit. The acceptance of self-administered continuing education activities vary widely between states and professions. Before undertaking any self-study effort, you should review the rules of your licensing/certifying entity.

HalfMoon Education guarantees its products. The self-study products are recorded from a live seminar and there are circumstances where an audio recording is not available. HalfMoon will contact you and issue a full refund if the product you ordered is not available. If you are not happy with a product you receive, you can return the product for a full refund. However, refunds will not be issued if completion certificates are requested.

USB MP4/PDF

HalfMoon will mail you these materials via USPS. Please allow 2 weeks from the date of purchase to receive your product. If the live seminar is in the future, please allow 5 weeks from the date of the live seminar.

The USB Mp3+PDF package includes an Mp3 audio recording of a live seminar on a USB thumb drive along with a PDF file of the manual that was distributed at the seminar. The manual contains written materials prepared by the seminar speaker(s).

The Mp3 audio recording contains embedded number codes, which you are required to document and return to HalfMoon if you wish to obtain a certificate of completion for the program. The acceptance of self-administered continuing education activities varies widely between states and professions. Before undertaking any self-study effort, you should review the rules of your licensing/certifying entity.

HalfMoon Education guarantees its products. The self-study products are recorded from a live seminar and there are circumstances where an audio recording is not available. HalfMoon will contact you and issue a full refund if the product you ordered is not available. If you are not happy with a product you receive, you can return the product for a full refund. However, refunds will not be issued if completion certificates are requested.