Objectives of the Presentation:
- Help clients make the right choices in estate and trust planning
- Understand the concepts of fiduciary income taxation
- Describe the various trust options available in estate planning
- Prepare a Form 1041 correctly
Why Should you Attend:
This webinar will improve return preparers' familiarity with preparing Form 1041, such as calculating distributable net income, allocating income between the trust and beneficiaries and understanding reporting rules for revocable and irrevocable trusts. All tax preparers, accountants, attorneys and financial planners who advise clients on tax planning, estate planning and wealth management matters will benefit from this webinar.
- Preparing Form 1041
- What is the difference between a Grantor Trust and other Trusts
- Taxable income
- Calculating distributable net income
- Allocating income between trust and beneficiaries
- Selecting a year end
- Reporting rules
Paul D. Wigg-Maxwell is an International Tax Attorney with over thirty years experience advising on international tax matters. He received his JD from Columbia Law School and an LLM in Taxation from NYU Law School. He worked in the Tax Departments of large New York City law firms for eight years before establishing his private practice in New Jersey.