Are You Aware of the Income Tax Impact of Trusts You Recommend or Set Up?
Do You Know What Actions to Advise Clients
to Take and Not to Take After a Trust is Established?
Many of your clients (or prospective clients) have estate plans - - or you’ll recommend ones - - that provide for trusts to be set up, after their death, for their beneficiaries. Some clients also make or are advised to make gifts to irrevocable trusts during their lifetime. And some will die with probate estates.
Unfortunately, most estate planning professionals don’t know the rules for income taxation of trusts and estates - - and may be unwittingly getting their clients and themselves into a lot of trouble!
For example, the income taxation of estates and trusts involves a totally unique concept known as “distributable net income” (or “DNI”). Plus, the deductions for fiduciary fees, charitable deductions and certain miscellaneous deductions (such as investment advisory fees, and attorney/accountant fees) are treated quite differently for estates and trusts than for individual taxpayers. And, on top of this, add the complexity of the new Net Investment Income Tax (“NIIT”).
However, with a decent understanding of the basic income tax NIIT rules, you can give more than adequate tax planning and advice for trusts and estates.
Join us and nationally renowned CPA and tax authority, Robert Keebler for a special 90-minute program, entitled “The Income Taxation of Trusts and Estates After ATRA and Its Regs - - Made Easy”.
During this teleconference, you will learn about:
- The dramatic and devastating impact of the 3.8% Net Investment Income Tax
- Passive activity rules for trusts
- The different types of trusts for income tax purposes (e.g. simple, complex, grantor, charitable)
- The critical categorization of income (taxable income vs. fiduciary accounting income)
- Distributable net income (DNI) and how it works
- The “Tier” Rules
- The Separate Share Rule
- IRC 663(b) “65-Day” Rule
- IRC §691(c) Deduction
- QSST and EBST elections
- How to treat excess deductions on termination
- Grantor trust rules and how they impact planning and return preparation
- The income tax side of Domestic Asset Protection Trusts
- All in plain-English you can understand!
- Program Title: The Income Taxation of Trusts and Estates After ATRA and Its Regs – – Made Easy
- Speaker: Robert S. Keebler
- Duration: 90 minutes
ABOUT THE SPEAKER
CPA/PFS, MST, AEP (Distinguished), CGMA
Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planning Counsels. He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. Mr. Keebler is the past Editor-in-Chief of CCH’s magazine, Journal of Retirement Planning, and a member of CCH’s Financial and Estate Planning Advisory Board. His practice includes family wealth transfer…
IMPORTANT NOTICE REGARDING CE CREDIT
The Ultimate Estate Planner, Inc. and the presenter are not registered Continuing Education Sponsors and this program is not pre-approved for continuing education credit for any state or regulatory agency.
However, please note that each program includes a Certificate of Completion and, depending on the license and the regulatory agency for which governs a participant’s CE credit, some professionals may be able to self-report his or her participation and receive credit. It is the responsibility of the participant to complete any process necessary to seek self-reported CE credit for his or her participation. By registering for a teleconference (or purchasing on On-Demand program), you understand that CE credit is not guaranteed or warranted by the presenter or The Ultimate Estate Planner, Inc.