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Estate & Trust Primer - Tax Staff Essentials

Monday, November 25
 12:00pm - 4:00pm

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4.00 Credits

Member Price $213.00

Non-Member Price $261.00

Overview

Protect your clients’ assets and shield their estates from increased taxation brought about by the changing tax code. This CPE course will help you to understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. The course 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.

Objectives

  • Identify the elements of trusts and estates.
  • Recall the filing requirements for estates and trusts.
  • Indicate how electing small business trusts are taxed.
  • Identify which deductions and credits are allowed for estates and trusts.
  • Recall the significance of the Uniform Principal and Income Act (UPAIA).

Highlights

  • Types of trusts
  • Trustee powers
  • Recognition and realization of income
  • Elements of an estate
  • Taxation of trusts and estates
  • Basic concepts of estate planning

    Designed For

  • CPAs
  • Financial advisers
  • Estate attorneys

    Prerequisites

    None

    Notice

    You will receive an email from the AICPA with instructions to access the webinar.

  • Leader(s):

    Leader Bios

    William Murphy

    William F. Murphy, CPA/PFS, ABV, CFF, CVA Murphy Financial Group, P.C. / Carmel, IN 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 and professional practices in the State of Indiana. 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. Mr. Murphy is also associated with the law firm of Mallor Grodner LLP. The firm has offices located in both Indianapolis and Bloomington Indiana. He assists in providing tax, valuation and financial analysis services focusing in the areas of Family law and business transactions. In addition to being a Certified Public Accountant (CPA), Mr. Murphy holds the accreditation in business valuations as an Accredited in Business Valuation (ABV). Mr. Murphy also holds the designation of a Personal Financial Specialist (PFS) and Certified in Financial Forensics (CFF) awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of Certified Valuation Analyst (CVA) awarded by the National Association of Certified Valuation Analysis. In addition to these organizations, Bill has appeared as an expert witness in numerous cases involving marital and business disputes and has lectured extensively on valuation and tax issues for the National Business Institute, Western CPE, Indiana Continuing Legal Education Forum, Indiana CPA Society, American Institute of Certified Public Accountants, and the National Association of Certified Valuation Analysts, as well as for other local continuing educational programs. He is a member and former chairman of the Ethics Committee for the Indiana CPA Society. Bill also holds an Indiana Insurance License and is involved with several financial planning organizations. Prior to Bill’s association with the law firm of Mallor Grodner LLP he owned Murphy & Company, P.C. for over twenty five years (the predecessor of Murphy Financial Group P.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 development. Prior to establishing his own firm in 1982 Mr. Murphy worked with both local and national CPA firms. Bill is also a former director with the Indiana Attorney General’s Office while attending Indiana University law school.

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    Non-Member Price $261.00

    Member Price $213.00