Trust Accounting

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**This event is a rebroadcast of the LIVE event which was originally held December 15, 2009. All speakers will return for a live audience Q&A session.**

Everyone knows that Trusts come in two flavors: Simple and Complex. There are different ways of calculating the trust accounting income for each. The laws vary from state to state making it challenging for CPA’s to keep up on the latest changes to the law. Trust Accounting Income: The Fundamentals LIVE Webcast has been designed to give CPA’s a solid foundation when it comes to addressing critical issues. Our panel of key thought leaders and experts will guide you through the important issues surrounding Trust Accounting Income including:

- Making the calculations
- Key issues to consider
- Best practices
- Up to the minute regulatory updates
- State by state comparisons

Joining this webcast will give you a solid understanding of the key issues that you must be aware of when dealing with Trust Accounting Income. This webcast will help you advise your clients with confidence and authority. To register for this important event please click the “Register” button below. Hurry as class size is limited.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.
Advance Preparation: Print and review course materials
Course Code: 103994
Recording Fee: $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for Trust Accounting Income CLE/CPE Rebroadcast


Proposed Agenda (click here to view more)
SEGMENT 1:


James C. Calzaretta, Partner,
Deloitte Tax LLP

1. Discussion of fiduciary duty, its relevance and how it may impact the calculation of trust accounting
    income.
2. Discussion of relevant authority, governing instrument, state law and UPIA
3. Discussion of the interplay between TAI and tax items such as DNI and taxable income.
4. Discussion of more important UPIA provisions (distributions from entities, tax distributions from
    entities, power to adjust)

SEGMENT 2:


Jacqueline A. Patterson, Esq., Founding Partner,
Haney Buchanan & Patterson, LLP

1. The duty to account as a fundamental obligation of the trustee
2. The duty of impartiality among and between beneficiaries
3. The importance of the Chart of Accounts
4. The allocation of receipts and disbursements between income and principal
5. Tax allocations that are based on fiduciary accounting income

SEGMENT 3:


Steven B. Gorin, Partner,
Thompson Coburn LLP

Uniform Law Commission amended Section 505 of the Uniform Principal & Income Act (the “UPIA”)

1. Concerns Underlying the UPIA Section 505 Changes
    - Income Tax Rules Governing Business Entities
    - Income Tax Rules Governing Trusts
2. Explanation of the UPIA Section 505 Changes
3. Advising Clients about the UPIA Section 505 Changes
    - Why This Difficult Situation Arises
        - Marital Deduction Mandatory Income Requirement
        - Future Income Expected
        - Post-Mortem Business Sale Expected
    - What The Trustee Must Do To Alter The Trust’s Investments If The Trust Agreement Does Not
       Address The Issue
    - How To Minimize Disputes About What The Trustee Should Do
4. SECTION 505. INCOME TAXES.



Deloitte Tax LLP
James C. Calzaretta
Partner
speaker bio »»

Haney Buchanan & Patterson, LLP
Jacqueline A. Patterson, Esq.
Founding Partner
speaker bio »»

Thompson Coburn LLP
Steven B. Gorin
Partner
speaker bio »»

Who Should Attend?

- Finance Manager
- Finance Executive & Director
- Finance Officers
- Trust & Tax Attorneys
- Accountants & Consultants

Why Attend?

This is a must attend event to anyone interested in having full understanding about Trust Accounting Income.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    


** Discounts Apply for early registration

Disclaimer:
Please note, the event date is firm although it may be subject to change. Please click here for details.

 

 

 

 


Trust Accounting Income: The Fundamentals CLE/CPE
Rebroadcast
Speaker Firms:



Haney Buchanan & Patterson, LLP






 

The Knowledge Group, LLC 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org


 

We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.

Attention New York Attorneys:

This program is approved for CLE credit under New York’s Approved Jurisdiction policy. The Knowledge Group, LLC is an approved sponsor in the state of California, a New York Approved Jurisdiction. This program fulfills the non-traditional format requirement of exceeding 60 minutes in length. Please note only experienced attorneys (more than 2 years) are eligible to receive CLE credit via non-traditional format learning platforms. The Knowledge Group will verify attendance during the webcast via secret words (3 per credit hour) and by auditing attendees log in and log out records. All verification instructions will be provided during the webcast. Once attendance verification requirements have been completed, the attendee will be issued a certificate of attendance be The Knowledge Group for the course with the recommended number of credit hours. The Certificate of Attendance is normally sent via email in 24 hours or less.

To Claim Your CLE Credits:

The attorney should simply include credits earned via Knowledge Group webcasts when computing the total number of CLE credits completed, and keep the Knowledge Group Certificate of Attendance for a period of at least four (4) years in case of audit. An attorney may count towards her/his New York CLE requirement credit earned through the Approved Jurisdiction policy without notifying the CLE Board.

To learn more about New York’s Approved Jurisdiction policy. Please visit: http://www.nycourts.gov/attorneys/cle/approvedjurisdictions.shtml



 
Enrolled Agents Sponsor ID Number: 760

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