This webinar will help you to increase competency in preparation of Final 1040 returns and fiduciary returns
Learning Objectives:
- Gain competencies in the basic administration of an estate or trust and the associated tax returns
- Recognize the documents associated with court oversight of an estate and order for final distribution as well as certification of trust, and small estate affidavit
- Increase skill level in preparation of final 1040s for decedents in recognizing special deductions and management of carryovers
- To understand the differences in Form 1041 preparation for estate vs. trust
- Awareness of recent favorable deadlines for portability elections and simplified reporting available for certain filers
Why Should You Attend:
When a taxpayer dies, a new taxpayer is born! The type of taxpayer that is born is directly related to the estate planning of the decedent and the types of assets the decedent owned and how they were titled. Your new tax client will come under the legal and taxation rules specific to the administration of small estates, probate estates or trusts.
This session will serve as a tutorial for the tax professional that wants to brush up their skills with final 1040s and fiduciary returns, as well as the tax professional just getting their feet wet in this very rewarding area of tax practice.
Areas Covered
- Special issues with final 1040 returns
- Wages received after death
- Estate vs. trust administration
- Simplified reporting available when filing Form 706 for portability election
Instructor
Vicki L Mulak is an Enrolled Agent and Certified Financial Planner (CFP) and owner of American Financial and Tax, a tax preparation, planning and representation firm, which was founded in Tustin, California in 1985, when Vicki became both a resident and a business owner.
Vicki is a well-known presenter on federal and California tax law with audiences at continuing education events hosted by various practitioner organizations. She is also an author of numerous articles that have appeared in various practitioner journals.
In addition to her private practice, Vicki has served on two of the three California state tax agency advisory boards: The California Franchise Tax Board Advisory Board since 2010 - 2017 and the Employment Development Department's Small Business Employer's Advisory Committee since 1997.
She has been honored with numerous awards for distinguished service in legislative advocacy and educational goals from the Enrolled Agent Associations, NAEA and CSEA.
She resides with her husband, George, in Tustin.