Fiduciary Accounting and Tax Issues of Estates and Trusts

Nov 8
8:00 - 4:00 p.m.

Pennsylvania Institute of CPAs
Philadelphia - Map

8-A&A
CPE Credits

Differentiate fiduciary accounting income from taxable income and distributable net income. Learn how the fiduciary income tax return differs from individual income tax. Review state law on principal and income.
Highlights

Major legal and tax concepts
The Uniform Principal and Income Act: how specific state laws on principal and income apply to common expenditures and receipts
Crucial differences between fiduciary accounting and tax accounting
Splitting income between the fiduciary and the beneficiaries
How to set up an accounting system for an estate or trust, prepare a judicial accounting, and keep records for fiduciary accounting
How practitioners can handle audits of estates and trusts