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Estate & Trust Primer
Tax
Webcast

Estate & Trust Primer

This webcast will help you to understand the tax obligations of trusts and estates and how these obligations affect beneficiaries.

$179 - $219
Do you have an AICPA membership? Log in to apply your member discount.
46656305-6110-4E90-B13F-627B274DF603Created with sketchtool.Included in Webcast Pass

Format

Webcast

Date

Dec 17, 2020

NASBA Field of Study

Taxes

Level

Basic

CPE Credits

4

Author(s)

William F. Murphy

Availability

3 months

Learning Outcomes
  • Identify the concepts of federal income taxation of estates and trusts
  • Calculate the gross income of trusts and estates
  • Recall which deductions and credits are allowed for estates and trusts
  • Recall distributable net income and understand its significance
Key Topics
  • How trusts and estates are taxed under the internal revenue code
  • What is a trust, a simple trust and a complex trust
  • How the income of a trust or estate is defined for tax purposes
  • What the ordinary deductions are and what credits are allowed
  • How the deduction for distributions to beneficiaries are determined
  • How trust and estate beneficiaries are taxed
  • What a "grantor trust" is and how it is taxed
  • How Form 1041 is prepared
Product Details

This webcast is part of the Tax Staff Essentials program

Protect your clients' assets and shield their estates from increased taxation brought about by the changing tax code.

This webcast will help you to understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. The webcast, which has been updated for the Tax Cuts and Jobs Act (TCJA), provides exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms.

You will also learn how to prepare federal Form 1041 and the accompanying schedules.

Who Will Benefit
  • CPAs, enrolled agents, and financial planners with basic knowledge of federal income tax concepts, and an interest in Income Taxation of Estates and Trusts and preparing Form 1041
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
$219.00
AICPA Members
$179.00

Looking for group pricing?

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
Credit Info
CPE Credits
4
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
Access
This is a live event. You will have access on the date/time of broadcast and the archive for 3 months after the broadcast date.
Duration
4 hrs
Speakers
William F. Murphy
CPA/PFS, ABV, CFF, CGMA, CVA
William F. Murphy is the owner of Murphy Financial Group, P.C. The firm emphasizes in providing tax consulting and financial planning services to corporations, professional practices and individuals. He also provides consultation services on tax and financial planning issues to various news and publishing organizations on current tax law changes occurring within federal and state government. He is also the author of the ""Murphy Minute"" which is syndicated through various news organizations. Mr. Murphy is also associated with the law firm of Mallor Grodner LLP. The firm has offices in both Indianapolis and Bloomington, Indiana. He assists in providing tax, valuation and financial analysis services focusing in the areas of family law, business transactions and estate tax planning. In addition to being a Certified Public Accountant (CPA), Mr. Murphy is Accredited in Business Valuation(ABV) as awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of a Personal Financial Specialist (PFS) and Certified in Financial Forensics(CFF) also as awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of Chartered Global Management Accountant (CGMA) awarded by the American Institute of Public Accountants. Mr. Murphy also holds the designation of Certified Valuation Analyst(CVA) awarded by the National Association of Certified Valuation Analysis. Mr. Murphy has also worked with the local NBC affiliate (WTHR) for business segments with Mr. Lester Holt and radio station WIBC. In addition to these organizations, Bill has appeared as an expert witness in numerous state and federal court cases involving marital and business disputes and has lectured extensively on valuation and tax issues throughout the United States. Mr. Murphy is also an instructor at the Kelley School of Business in Indianapolis, Indiana and contributes to the Indiana Business Journal on articles involving business taxation and valuation. Mr. Murphy has presented numerous programs at the state and national level for American Institute of Certified Public Accountants, National Business Institute, Western CPE, Indiana Continuing Legal Education Forum, Indiana CPA Society, National Association of Certified Valuation Analysts and The Exit Planning Institute as well as for other local continuing educational programs. He is a former chairman of the Ethics Committee for the Indiana CPA Society and the chairman of AICPA 2013 Small Business Practitioners Tax and Tax Controversy Conference. Bill also has held an Indiana Insurance License and is involved with several financial planning organizations in the Indianapolis area. Prior to Bill's association with the law firm of Mallor Grodner LLP he was associated with Murphy & Company, P.C. for over twenty five years (the predecessor of Murphy Financial GroupP.C.). While at Murphy & Company, P.C., he was Director of Entrepreneurial and Tax Services and was the firm's majority shareholder. The firm specialized in taxation, business valuations and small business formation. Prior to establishing his own firm in 1982 Mr. Murphy worked as a Director for the Indiana Attorney General's Office while attending Indiana University law school. Mr. Murphy graduated from Butler University with honors in 1973 and was admitted to practice as a Certified Public Accountant in the State of Indiana on December 7, 1977. He now serves on the Board of Visitors for the Butler University School of Business.
Accessibility

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

Estate & Trust Primer
Dec 17, 2020
Select from the following options:
Dec 17, 2020
6pm10pm GMT
Nonmember Price
$219.00
Price excluding sales tax
$219.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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