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CPE Self-Study
Estate & Trust Primer - Tax Staff Essentials
NASBA FIELD OF STUDY
Taxes
LEVEL
Basic
CPE CREDITS
Online: 5.5
Gain an understanding of the federal income taxation of trusts and decedentsí estates, along with the effects certain tax scenarios have on the beneficiaries of those trusts and estates.

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Find out more information on the Tax Section.

CPE On-Demand
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Product details

Who Will Benefit?

  • CPAs
  • Financial advisors
  • Estate attorneys

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 Objectives

  • Understand the concept of a trust and the various types of trusts
  • Advise clients on filing requirements for Forms 706 and 709
  • Identify the elements of an estate
  • Identify the elements of a grantor trust
  • Minimize transfer taxes by incorporating exemptions and credits
  • Understand statutory provisions that mandate or protect interests of a decedent's spouse and/or children.

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

How do the tax obligations of trusts and estates and how these obligations affect beneficiaries?

This self-study course will give you an understanding of the federal income taxation of trusts and decedents' estates, along with the effects certain tax scenarios have on the beneficiaries of those trusts and estates.

We will also discuss some basic planning options that can help minimize your clients' taxes during income accumulation, distribution, or the transfer of wealth to intended beneficiaries.

Table of contents
Ratings and reviews
Author(s)

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.

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 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 specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$129.00
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Estimated total:
$129.00
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CREDIT INFO
CPE credits
Online
: 5.5
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
Basic knowledge of individual income taxation
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
TSE.ETP
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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