Course ID: TRUS

Income Taxation of Trusts: Minimizing Your Clients Taxes

Give clients the confidence they need to entrust you with the future of their assets. Learn how to create and administer trusts using fundamental concepts that are essential to understanding trust documents and the preparation of relevant tax returns. This comprehensive course demonstrates critical concepts and provides a foundational understanding of trust documents.


LEARNING OBJECTIVES
  • Identify the nature of a trustee’s fiduciary duty.
  • Identify the elements of a trust.
  • Recognize different types of trusts.
  • Understand the laws that govern a trust.
  • Understand how modern portfolio theory impacts trust investing.
  • Identify how a trust is created, modified, amended, or terminated.
  • Demonstrate the various uses trusts can serve in an estate plan.
  • Highlight the significance of the Uniform Principal and Income Act.
  • Understand how trusts are taxed.

MAJOR TOPICS
  • Elements of a trust
  • Investments of a trust
  • Laws that govern a trust
  • Creation, termination and modification of trusts
  • Anatomy of a trust
  • Uses of a trust in estate planning
  • Fundamentals of fiduciary accounting
  • Taxation of trusts
  • Tax treatment of grantor trusts

DESIGNED FOR
CPAs and financial planners with basic knowledge of federal income tax concepts

FIELD OF STUDY
Taxes

PREREQUISITES
None

COURSE PRODUCER
AICPA

CPE CREDITS
8.0

LEVEL
Basic

This course is available for your group as:

Group Live On-Demand
 

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Or, contact BLI: 888-481-3500 or learn@blionline.org