As clients get older¸ it’s natural that they become concerned with passing assets to their loved ones. With this in mind¸ more and more taxpayers are establishing trusts as a vehicle to transfer assets. Trust tax preparation presents great opportunity for tax preparers who wish to grow their practices. This webinar will focus on the unique rules and terminology of trusts to help you understand and therefore¸ be able to assist taxpayers with proper planning and compliance.
Objectives Upon completion of this webinar¸ you will be able to:
- Define trust terminology such as DNI¸ IDD¸ and DRD.
- Complete Form 1041¸ U.S. Income Tax Return for Estates and Trusts.
- Identify relevant provisions contained in a trust document.
- Determine when the trust terminates and identify the potential tax consequences to the beneficiaries.
Read more: National Association of Tax Professionals