Federal Fiduciary Income Tax Workshop
DISCLAIMER
Before undertaking any on-demand effort, you should review the rules of your licensing/certifying entity.
It’s your responsibility to determine whether this on-demand course meets your continuing education requirements.
You must take and pass a quiz to receive credit. You can take the quiz as many times as needed and there is no time limit on the quiz.
Once the quiz is completed, you will be asked to download your certificate.
**Any on-demand programs that qualify for AIA or LACES credit will require an additional 2 business weeks for processing.
**AIA credit is not available in USB format.
Streamable MP4/PDF
You will receive an automated email letting you know when your On-Demand package is available approximately 3 business days after the date of the live event or the date of your order, whichever is later.
**Any streamable on-demand programs that qualify for AIA or LACES credit will require an additional 2 business weeks for processing.
The automated email letting you know when your On-Demand package is available will contain links to the video recording, materials, and program quiz.
To track your purchase, you will need to create an account on the website using the email address used for your registration.
For AIA requirements only, the on-demand recording will have occasional question prompts that will not allow the video to progress unless they are answered, and you will not be able to skip forward while watching the video.
Please note, if you attempt to resume watching the video on a separate device, your progress will not be saved.
Click the link which appears at the end of the video to be taken to the course quiz.
You will have unlimited access to the on-demand video recording, and it will never expire.
USB MP4/PDF
HalfMoon will mail these materials via USPS.
USB orders ship approximately 3 business days after the program takes place or after the order is placed, whichever date is later. Please allow an additional 7-10 business days for shipping.
**Any USB on-demand programs that qualify for LACES credit will require an additional 2 business weeks for processing.
**AIA credit is not available in USB format.
The link to the quiz will be available in a PDF in your USB drive marked QUIZ.
HalfMoon will contact you and issue a full refund if the product you ordered is not available. However, refunds will not be issued if completion certificates are requested.
Please contact HalfMoon Education if you have any questions during the process of taking this course. (715) 835-5900 or qchapman@halfmoonseminars.org
Agenda
Webinar instructions will be emailed before the date of the webinar.
Please log into the webinar 15 – 30 minutes before the start time.
Thursday, June 27, 2024
9:00 am – 4:40 pm CDT
Presented by: Christian A. Klaas, CPA, MST and Ryan Wirtz, CPA, MST
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.
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
Attorneys
6.5 60-minute CLE Hours (AZ, CA, CT, IL, PA, VT, TX)
Attorneys
8.0 50-minute CLE Hours (FL)
IRS - Internal Revenue Service
8.0 CE Credits
CFP Board - Certified Financial Planner Board of Standards
8.0 CE Hours (Tax Planning)
Continuing Education Credit Information
This webinar is open to the public and offers accountants 8.0 CPE credit hours (based on 50-minute hours) of intermediate-level group internet-based CPE credits in the area of taxation. Knowledge in federal taxation is beneficial, and no advanced preparation is recommended. NASBA Sponsor No. 103015.
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.
This course offers 8.0 continuing education credit hours for IRS enrolled agents and other tax return preparers under Treasury Department Circular #230 Section 10.6(g).
HalfMoon Education Inc. is a CFP Board-registered continuing education sponsor. The Certified Financial Planner Board of Standards, Inc. has granted 8.0 continuing education credit hours to the course.
The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 6.5 hours toward your annual CLE requirement for the State Bar of Arizona. HalfMoon Education in an approved MCLE Multiple Activity Provider for California attorneys (No. 8370); this webinar is designed to qualify for 6.5 CLE hours to California attorneys. HalfMoon Education is an approved CLE provider for Pennsylvania attorneys (No. 1613); this webinar offers 6.5 CLE hours to Pennsylvania attorneys. HalfMoon Education is an approved CLE provider for Texas attorneys (No. 8306); this webinar offers 6.5 CLE hours to Texas attorneys. This course has been approved by the Florida Bar for 8.0 general CLE credits. This course has been approved for 6.50 MCLE general credit hours by the Illinois MCLE Board. This approval qualifies the webinar for Connecticut attorneys.
This program does not qualify for New York Attorneys.
Attendance will be monitored, and attendance certificates will be available after the webinar for those who attend the entire course, respond to prompts, and score a minimum 80% on the quiz that follows the course (multiple attempts allowed).
On-Demand Credits
The preceding credit information only applies to the live presentation. This course in an on-demand format is not pre-approved by any organizations or licensing boards.
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 Frankfort, 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.
6.5 Knowledge Points
Purchase this course using Knowledge Points by clicking the button below.
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