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Post Mortem Tax Planning for Form 1041 - East County San Diego Virtual Meeting 6.7.22
Tuesday, June 07, 2022, 4:00 PM - 6:00 PM PDT
Category: In-Person Chapter Meetings

Post Mortem Tax Planning for Form 1041
 East County San Diego Virtual Chapter Meeting

Date/Time:

Tuesday, June 7, 2022
4:00 PM to 6:00 PM

Location:

Online Meeting via Zoom
This will be Zoom Meeting. Once you register and pay, the Zoom link will be provided for you to log in at the designated meeting time. Zoom does require registration before entering the meeting. 

Topic: 

After a taxpayer dies, you can’t change things, but it is not too late to make decisions to minimize tax consequences. Below are the areas I will discuss:
- Terms of the Trust document/Will- Beneficiary Notification Probate Code 16061.7
- Form 1041 vs Form 1040 tax rates
- How title of assets affects taxability
- What assets get a step-up in basis
- What is taxable income
- What is tax-deductible
- Beneficiary distributions: specific, general, and others
- Charitable deductions
- Estate/trust state of residence
- Beneficiaries’ state of residence
- CA Form 593 – Real Estate Withholding
- CA Form 592PTE – Pass-Through Entity Withholding
- Sec 645 Election to treat a trust as an estate
- Sec 663(b) Election – the 65-day rule
- Form SS-4 - applying for an EIN
- Form 56 – Notice Concerning Fiduciary Relationship

Presenter:

Helen Welbourn, EA and California Licensed Professional Fiduciary
Helen has been a tax preparer for over 20 years and specializes in trust returns while acting as a professional fiduciary for some clients. She enjoys sharing her knowledge with other tax preparers about the ins and outs of trust tax preparation.

 

 

 

CPE Information:

2 Federal Law hours (Topics covering existing tax law)

IRS: 18QC1-T-01653-22-O
CTEC: 1000-CE-5060

Knowledge Level: Basic (No prior knowledge expected) / Intermediate (Basic knowledge helpful)

Cost:

Registration Fee (Member): $20
Registration Fee (Non-Member): $50

Click the link below to register!


This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.