Trust Basics

  • Registration Closed

The tax rules that apply to a trust can be quite daunting.  This program is designed for professionals with an interest in income taxation of trusts and experience with Form 1041 preparation. 

We will review the taxation scheme for a Trust between the taxation of the trust entity and the taxation of the beneficiary.  We will discuss the unique aspects of “grantor trusts”. 

Let us highlight planning opportunities for trusts in your professional tax practice and show you how to increase your firm’s practice revenue.

Objectives

Upon completion of the session, the participant will be able to:

  • Cite the basic concepts of federal income taxation of a Trust
  • Define the various types of Trusts and how each Trust type is different
  • Compute the income, deductions, and credits for a Trust
  • Express the significance of Distributable Net Income (DNI)
  • Recall the unique aspects of grantor Trusts
  • Recognize planning opportunities for Trusts
  • Review current tax legislation and its impact on planning opportunities for Trusts

CPE Credit: 2 hours Federal Tax Law

Speaker: Michael R. Miranda CPA, QKA, AEP

NSA Webinar Program Level: Basic Prerequisites: None   Advance Preparation: None   Delivery Method: Group-Internet Based

No refunds or exchanges for cancellations. For more information regarding refund, complaint and/or program cancellation policies, please contact NSA toll-free at 800-966-6679.

image

NSA is approved by NASBA, the IRS, ACAT, and CTEC as a provider of continuing professional education.

Michael R. Miranda CPA, QKA, AEP

MIRANDA CPA & Consulting LLC

Bringing45 years of experience with tax consulting, estate planning, and employee benefits to his work as an independent consultant, Michael is the owner of MIRANDA CPA & Consulting LLC in Sioux Falls, SD.  His tax practice focuses on corporate, individual, estate and gift, and tax accounting.  He also provides employee benefit planning and consultation services for qualified, non-qualified, and health and welfare benefit plans.  As part of his IRS representation practice, Michael has worked with the National Office to obtain private letter rulings for clients, in addition to numerous EPCRS submissions and audits.  As a nationally recognized tax speaker, he maintains an active schedule presenting webinars and seminars on tax law, employee benefit planning, and estate planning.  He currently works with the National Tax Institute, the National Association of Enrolled Agents, Basics & Beyond, and other organizations that request speaker presentations.

Michael spent much of his career as a CPA with a regional CPA firm located in Northwestern Iowa, retiring after 27 years as a senior manager-shareholder with said firm.  Prior to this experience, he was a Tax Specialist with a Big 8 accounting firm in their South Bend and Minneapolis offices, providing tax and estate planning for individuals and small to medium-sized businesses.  He has earned professional designations including CPA, QKA, and AEP and through professional memberships with the American Institute of Certified Public Accountants(AICPA), the American Society of Pension and Professional Actuaries (ASPPA),National Association of Enrolled Agents (NAEA), and the National Association of Estate Planning Councils (NAEPC). Michael resides in Sioux Falls, SD with his wife Jeanette.  

Components visible upon registration.

NSA is approved by NASBA, the IRS, ACAT, and CTEC as a provider of continuing professional education.

The National Society of Accountants 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: https://www.nasbaregistry.org/.

NSA has been approved by the California Tax Education Council to offer the above courses to go towards the annual "continuing education" requirement imposed by the state of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone at (877) 850-2832, or on the Internet at www.ctec.com.