Income Taxation of Trusts & Estates

$195.00

Live Broadcast on December 6, 2017

Income tax planning is becoming more important for Estates and Trusts. This program will discuss planning opportunities and efficient methods to minimize adverse income tax consequences and avoid traps and pitfalls. Numerous planning opportunities will be discussed. The presentation will include computation of distributable net income, the taxation of capital gains and methods to include capital gains in distributable net income. Practical planning considerations and flexible trust provisions will be discussed. Also included are special considerations concerning depreciation, income in respect of a decedent, and passive activity rules as they are applied to the decedent and to the Estate and Trust. Practical drafting consideration, will also be included.

This course is co-sponsored by Wolters Kluwer.

Key topic to be discussed:

•   Learn income tax planning and reporting tips and tricks from a specialist
•   Distinguish between taxable and accounting income
•   Properly plan and document trust deductions and distributions
•   Avoid common mistakes when completing a decedent's final income tax return
•   Recognize and prevent fiduciary liability for payment of income tax

Date / Time: December 6, 2017

•  2:00 pm – 4:00 pm Eastern
•  1:00 pm – 3:00 pm Central
•  12:00 pm – 2:00 pm Mountain
•  11:00 am – 1:00 pm Pacific

Choose a format:

•  Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•  On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.

All Access Pass: Before you buy, access this class and all other myLawCLE programs, over 120 new live classes every year, for only $69 dollars per month. Purchase the All Access Pass first. Click here for more information.

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Live Broadcast on December 6, 2017

Robert S. Barnett, CPA, Esq., is a founding partner of Capell Barnett Matalon & Schoenfeld LLP, Attorneys at Law. His practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning. His experience includes Surrogate’s Court practice, tax dispute resolution in both Federal and State jurisdictions, and Tax Court representation. Mr. Barnett frequently assists clients in structuring financial transactions and charitable gifts.

Mr. Barnett applies creative and practical solutions to estate and business planning.  He has served on many committees and is a frequent lecturer on numerous aspects of tax and business law. He is a member of the Professional Advisors Committee of the Long Island Community Foundation and of the American Heart Association and is active on both the estate and tax planning committees of the New York State Society of CPAs. Mr. Barnett has written articles on numerous aspects of estate and tax planning and is a frequent contributor to the New York State CPA Journal, The New York Law Journal, and other publications. His articles and lectures encompass a wide variety of topics, including business succession, estate planning, generation-skipping, stock options, effective strategies for removing tax liens, proper utilization of the marital deduction and utilization of partnership elections. Mr. Barnett serves on the Nassau County Bar Association’s Academy of Law and is Co-Chair of the Tax Committee. He is the Vice President and an Executive Board Member of the Nassau Chapter of the New York State Society of CPAs. He is President of the Educational Foundation of the Nassau/Suffolk Chapter of the National Conference of CPA Practitioners and Chairman of the Education Committee.

Mr. Barnett has extensive expertise representing clients with unreported foreign assets, including failure to file FBAR forms. He has advised clients in all facets of the Offshore Voluntary Disclosure Program, including penalty minimization strategies and options.

Mr. Barnett received his juris doctor in 1986 from Fordham University, where he graduated cum laude and was a member of the Fordham Law Review. He graduated magna cum laude from Hofstra University, where he received his Bachelor’s degree in accounting. Mr. Barnett holds a Master’s degree in taxation as the recipient of the highest dean’s award. Mr. Barnett is admitted to practice law in New York, Virginia and Washington, D.C.

CLE Accreditation:
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CLE 2.00 – ID
CLE 2.00 – IL
CLE 2.00 – IN
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CLE 2.00 – ME
CLE 2.00 – MN
CLE 2.40 – MO

CLE 2.00 – MP
CLE 2.00 – MS
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CLE 2.00 – NC
CLE 2.00 – ND
CLE 2.00 – NE
CLE 2.00 – NH
CLE 2.40 – NJ
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CLE 2.40 – NY
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CLE 2.40 – OK
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CLE 2.00 – PR
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CLE 2.00 – SC
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CLE 2.00 – TX

CLE 2.00 – UT
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CLE 2.40 – VI
CLE 2.00 – VT
CLE 2.00 – WA
CLE 2.40 – WI
CLE 2.40 – WV
CLE 2.00 – WY

Accreditation Policy
myLawCLE will seek credit where attending attorneys are primarily licensed for all of its live webinars and live teleconferences, except in states which allow for reciprocity (see reciprocity section below). Credit for CLE in a self-study format is sought for in most states; however, some states do not allow for CLE credit to be earned in a self-study format (see the self-study section below). Many states typically decide whether a program qualifies for MCLE credit in their jurisdiction 4-8 weeks after the program application is submitted. For many live events, credit approval is not received prior to the program. Credit hours granted are subject to approval from each state.

Reciprocity
Additionally, some states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, CO, FL, ME, MT, ND, NH, NJ, NY, PR, and SD. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

On-demand CLE
myLawCLE will seek on-demand approval in all states except Virginia and Arkansas (outside reciprocal provisions stated above).


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Section I. The Difference Between Simple Trusts and Complex Trusts

Section II. The Difference Between Taxable Income and Accounting Income

Section III. Distributable Net Income and How it is Calculated

Section IV. Trust Deductions

Section V. Choosing the Estate’s Taxable Year

Section VI. Who Owns the Income at the Death of the Decedent?

Section VII. Deductions and Expenses of an Estate

Section VIII. Fiduciary Liability for Payment of Income Tax