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CPE Self-Study

Estate & Trust Primer - Tax Staff Essentials

  • $139.00-$179.00
    Estate & Trust Primer - Tax Staff Essentials Online Access Product #: 157754
    AICPA Member: $139.00
    Non-Member: $179.00
  • Contact Sales
    Contact a representative for group pricing or on-site training opportunities. 800.634.6780 (Option 1) | Contact Us Product #: GT-TSE.ETP

Save when you buy the complete Tax Staff Essentials, Level 3 online bundle.

Protect your clients’ assets and shield their estates from increased taxation brought about by the evolving tax law. Understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. This CPE course provides exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms.

Learning Objectives

When you complete this course, you will be able to do the following

  • Apply the concepts of federal income taxation of estates and trusts.
  • Calculate the gross income of trusts and estates.
  • Recall what deductions and credits are allowed for estates and trusts.
  • Recognize distributable net income and understand its significance.

Key Topics

  • Trusts and Trust Terminology
  • The Uses of Trusts in Estate Planning
  • How trusts and estates are taxed
  • What is a trust? What is a “simple trust?” What is a “complex trust?”
  • How is the “income” of a trust or estate defined for tax purposes?
  • What are the ordinary deductions and credits allowed?
  • How is the “deduction for distributions” to beneficiaries determined?
  • How are trust and estate beneficiaries taxed?

Who Will Benefit?

  • CPAs, enrolled agents, and financial planners with basic knowledge of federal income tax concepts

Discount

Tax Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the Tax Section.

System Requirements

About the Authors

Stephen R. Brooks, CPA/PFS, CFP

St. Louis, MO

Stephen Brooks is a tax partner with ROI Business Services, LLC in St. Louis, MO with 16 years of public accounting experience. His expertise includes: complex consulting and compliance for individual, trusts and estates as well as flow-through entities and closely-held businesses. Stephen also provides business planning, wealth management, and succession planning to his clients.

Stephen has been an instructor for the AICPA since 2013 and has authored several courses for the AICPA. These courses include: Advanced Estate Planning Strategies, Estate Planning Essentials: Tax Relief for Your Clients, Form 1041: Income Taxation of Estates and Trusts, Estate & Trust Primer, Advanced Estate & Trust Taxation, and Estates and Trusts: Mastering Complex Income Tax Issues. Prior to authoring courses, he was a technical reviewer for a variety of AICPA courses.

Stephen is a co-founder and board member of the non-profit organization, The St. Louis Suit Project. This organization assists individuals in improving themselves both externally and internally. The organization provides tailored suits and soft-skill training to adults to aid in their search for employment and/or to attend college. Stephen also assisted in the creation and is currently the treasurer of the non-profit organization, Us Against Cancer. This organization provides funding to individuals diagnosed with cancer so that they can receive the required treatment.

Stephen is a member of the American Institute of Certified Public Accountants and the Missouri CPA Society. He graduated from Indiana University at Bloomington with a major in Accounting and Finance and minor in Psychology. He also holds a M.S. in Taxation from the University of Illinois Urbana-Champaign. Prior to his married life with his children, Stephen enjoyed competing in many endurance races such as marathons, triathlons, and ultra-marathons.

About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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