175 | OSCPA Live | October 18
Estate & Trust Primer - Oklahoma City
Wednesday, October 18, 2023 8:30am - 12:00pm
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.
Please Note: The OSCPA has updated our Transfer Policy for in-person events. Find more information here.
When you complete this course you will be able to:
- Apply the concepts of federal income taxation of estates and trusts.
- Calculate the gross income of trusts and estates.
- Identify which deductions and credits are allowed for estates and
- Recognize distributable net income and understand its significance.
- Dennis Riley (view bio)
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.
- 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
Dennis Riley, CPA, MBA, specializes in the tax and business needs of individuals, families and entrepreneurial small businesses at CuttingEdgeCPA.com, LLC in Mt. Laurel, NJ. He has more than 25 years of experience in accounting, consulting, tax preparation and government representation. The AICPA's CPA Vision project identified him as an early adopter of new technology and new integrations of accounting and consulting information. Riley's experience encompasses a range of services including negotiations with federal and state government tax authorities, strategic business plans, litigation support, business formation and dissolution, tax preparation and much more.