Description
To properly account for estates and non-grantor trusts, an advisor must understand the statutory requirements to account, the proper classification of revenue and expenses in a chart of account and the importance of provisions in the estate planning document. Additionally, the differences and similarities to fiduciary taxation must be understood.
Highlights
• Setting up a chart of accounts
• Reviewing the estate plan
• Distinguishing between "income" and "principal"
• Understanding the relationship of fiduciary accounting to fiduciary taxation
Objectives
• Determine fiduciary accounting from the entity's financial records
• Recognize whether a receipt or disbursement is income or principal
• Identify the distribution provisions in the estate plan
Designed For
CPAs and financial professionals.
Course Pricing
WYOCPA Member Fee
$89.00
Non-Member Fee
$119.00
Your Price
$119.00
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