Federal Fiduciary Income Tax Workshop
Agenda
Webinar instructions will be emailed before the date of the webinar.
Please log into the webinar 15 – 30 minutes before start time.
Tuesday, November 29, 2022
8:30 am – 4:40 pm CST
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
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 can be downloaded in PDF form upon passing a short quiz. A link to the quiz will be sent to each qualifying attendee immediately after the webinar. The certificate can be downloaded from the Results page of the quiz upon scoring 80% or higher.
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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
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Credits
Accountants:
8.0 CPE Hours
IRS Enrolled Agents and Tax Return Preparers:
8.0 CE Credits
Attorneys:
6.5 60-minute CLE Hours (AZ, CA, CT, PA, TX)
8.0 50-minute CLE Hours (NJ, NY)
Certified Financial Planners:
8.0 CE Hours (Tax Planning)
Speakers
Christian A. Klaas, CPA, MST
Partner at Friedman & Huey Associates LLP – Homewood, ILMr. 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, Illinois CPA Society, and AICPA.
Ryan Wirtz, CPA MST
Principal at Friedman & Huey Associates LLP in Homewood, ILMr. Wirtz 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.