Calculating distributable net income, making estimated payments, choosing fiscal years for estates – these are only some of the challenges facing the fiduciary income tax practitioner. In this program, led by David Torchinsky and Eric Rollinger, attendees get the practical information they need to prepare federal fiduciary income tax returns for trusts and estates.
At this workshop participants will actually work through a set of fiduciary income tax problems. Each problem, based on a hypothetical estate or trust, will illustrate the completion of the entity’s fiduciary income tax return and the tax consequences to the beneficiaries. Attendees will examine a completed Form 1041 and have the opportunity to ask questions and discuss key concepts in depth – including the total return concept, combining a decedent’s living trust with the decedent’s estate for a single return and use of more flexible estate tax rules.
The problems illustrate how the allocation of estate deductions affects the tax liability of the estate or trust and the beneficiaries. The program materials include expanded discussion of several tax concepts and planning suggestions to help minimize taxes.
More information on this MD Federal Fiduciary Income Tax Workshop is available online.