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Estate & Trust Primer - Tax Staff Essentials
Tax
Webcast

Estate & Trust Primer - Tax Staff Essentials

A comprehensive guide to estate planning and the taxation of trusts.

$225 - $269
Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Format

Webcast

NASBA Field of Study

Taxes

Level

Basic

CPE Credits

4

Instructor

William F. Murphy

Availability

Product Number

VTSEETP250804

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 Business & partner 
Product Details

The tax strategies behind estate planning

Estate planning is vast and complicated. A fundamental understanding of estate and trust taxation is essential to helping clients plan for their futures.

Topics include:

  • Tax obligations of trusts and estates, and how these obligations affect beneficiaries
  • The federal income taxation of trusts and decedents’ estates, along with the tax effects of specific scenarios for beneficiaries
  • Planning options that can minimize your clients’ taxes while accumulating income and the distribution or transfer of wealth to intended beneficiaries

Detailed explanations of complex estate and trust concepts

Learners build their understanding of the unique tax issues affecting trusts and estates, including:

  • The taxation of simple and complex trusts, grantor trusts, and electing small business trusts
  • Fiduciary accounting and the Uniform Principal and Income Act
  • Deductions and credits available to trusts and estates

Key Topics

  • Types of trusts
  • Trustee powers
  • Recognition and realization of income
  • Elements of an estate
  • Taxation of trusts and estates
  • Basic concepts of estate planning

Learning Outcomes

  • Identify the elements of a trust.
  • Recognize the difference between principal and income as defined by the Uniform Principal and Income Act (UPAIA).
  • Identify tax payment and reporting requirements for estates and trusts.
  • Distinguish between simple trusts and complex trusts.
  • Recall how pooled income funds are taxed.
  • Recall the filing requirements for estates and trusts.

Who Will Benefit

  • CPAs
  • Financial advisers
  • Estate attorneys
Credit Info
CPE Credits
4
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
4 hrs
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.
Nonmembers
$269.00
AICPA Members
$225.00
CIMA Members
$225.00

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

Start order

6+ registrants

We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)

Contact us
Speakers
William F. Murphy
CPA/PFS, ABV, CFF, CGMA, CVA
William F. Murphy is the owner of Murphy Financial Group, P.C. The firm emphasizes in providing tax consulting and financial planning services to corporations, professional practices and individuals. He also provides consultation services on tax and financial planning issues to various news and publishing organizations on current tax law changes occurring within federal and state government. He is also the author of the ""Murphy Minute"" which is syndicated through various news organizations. Mr. Murphy is also associated with the law firm of Mallor Grodner LLP. The firm has offices in both Indianapolis and Bloomington, Indiana. He assists in providing tax, valuation and financial analysis services focusing in the areas of family law, business transactions and estate tax planning. In addition to being a Certified Public Accountant (CPA), Mr. Murphy is Accredited in Business Valuation(ABV) as awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of a Personal Financial Specialist (PFS) and Certified in Financial Forensics(CFF) also as awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of Chartered Global Management Accountant (CGMA) awarded by the American Institute of Public Accountants. Mr. Murphy also holds the designation of Certified Valuation Analyst(CVA) awarded by the National Association of Certified Valuation Analysis. Mr. Murphy has also worked with the local NBC affiliate (WTHR) for business segments with Mr. Lester Holt and radio station WIBC. In addition to these organizations, Bill has appeared as an expert witness in numerous state and federal court cases involving marital and business disputes and has lectured extensively on valuation and tax issues throughout the United States. Mr. Murphy is also an instructor at the Kelley School of Business in Indianapolis, Indiana and contributes to the Indiana Business Journal on articles involving business taxation and valuation. Mr. Murphy has presented numerous programs at the state and national level for American Institute of Certified Public Accountants, National Business Institute, Western CPE, Indiana Continuing Legal Education Forum, Indiana CPA Society, National Association of Certified Valuation Analysts and The Exit Planning Institute as well as for other local continuing educational programs. He is a former chairman of the Ethics Committee for the Indiana CPA Society and the chairman of AICPA 2013 Small Business Practitioners Tax and Tax Controversy Conference. Bill also has held an Indiana Insurance License and is involved with several financial planning organizations in the Indianapolis area. Prior to Bill's association with the law firm of Mallor Grodner LLP he was associated with Murphy & Company, P.C. for over twenty five years (the predecessor of Murphy Financial GroupP.C.). While at Murphy & Company, P.C., he was Director of Entrepreneurial and Tax Services and was the firm's majority shareholder. The firm specialized in taxation, business valuations and small business formation. Prior to establishing his own firm in 1982 Mr. Murphy worked as a Director for the Indiana Attorney General's Office while attending Indiana University law school. Mr. Murphy graduated from Butler University with honors in 1973 and was admitted to practice as a Certified Public Accountant in the State of Indiana on December 7, 1977. He now serves on the Board of Visitors for the Butler University School of Business.
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