Advanced Form 1041 Practice Workshop [AP41 Anc]
Time: 8-4
Subject:
TaxCredit Hours:
8.00Price:
Member: $295.00
Non-member: $445.00
Discussion Leader:
Dennis P. Riley
more info
Dennis Riley has more than 35 years of experience in accounting, consulting, tax preparation, and government representation. He specializes in the tax and business needs of individuals, families, and entrepreneurial small businesses. He is a frequent lecturer on topics related to taxation and closely held businesses. He has received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. Riley's experience includes a range of services including negotiations with federal and state government tax authorities, offers in compromise, closing agreements, strategic business plans, litigation support, record reconstruction, business formation and dissolution, problem solving, and tax preparation. He has resolved multiple-year filing issues, organization issues, and business transition problems.
closeWebsite registration for this course closes on November 17, 2014. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
Advanced Form 1041 Practice WorkshopNovember 18, 2014
AKCPA Conference Room
Anchorage, AK
The use of trusts must be re-evaluated in a post-tax reform world, with higher income tax rates for both the trust and its beneficiaries. Practitioners who understand the basics of Subchapter J and Form 1041 compliance soon encounter complex problems requiring sophisticated applications. This course builds upon our intermediate level course to concentrate on the most difficult issues in practice. This is an essential offering for the practitioner with high-powered clients.
Major Topics:
Case studies with completely filled-in forms tracking the flow of tax items and worksheets
Taking advantage of separate shares and the merged estate
Merging estates and trusts for income tax purposes
Special problems of estates and trusts relating to the new 3.8- percent tax on investment income
Alternative minimum tax for trusts and estates (Schedule G)
Grantor trusts: identification and compliance issues
Income in respect of a decedent, deductions in respect of a decedent, and the 691 deduction: calculation and allocation
Pension plan distributions to trusts
Funding pecuniary marital trusts
Charitable deductions (Schedule A)
Charitable remainder trusts (Form 5227) and the ordering rules
Depreciation problems & special issues of holding rental real estate
Special problems for a trust or estate holding a partnership interest or S corporation stock (ESBTs and QSSTs)
Learning Objectives:
Identify items of income in respect of a decedent (IRD) and calculate the 691 deduction
Understand how depreciation and alternative minimum tax applies to estates and trusts
Prepare Form 1041 and Form 5227 for charitable trusts
Distinguish grantor and non-grantor trusts
Designed For: CPAs who are heavily involved in Form 1041 preparation
Level of Knowledge: Advanced
CPE Credits: 8, Taxes
Prerequisite: Previous coursework in Form 1041 preparation or equivalent knowledge and experience
Acronym: AP41
Discussion Leader: Dennis Riley, CPA
