Trusts are old entities and go as far back as the Crusades when we were an agrarian society, and the only asset of any value was the land and what ...
11/22/2023 10:00am - 11:50am | Online | CalCPA
Members: $89.00, Non-members: $119.00
CPE Categories: Accounting (2 CPE)
Interest Areas: Accounting and Auditing
Trusts are old entities and go as far back as the Crusades when we were an agrarian society, and the only asset of any value was the land and what was produced on the land. Therefore, dividing the benefit in a trust between income and principal was logical and worked efficiently for a long time. However, times have significantly changed, and trusts are often invested in assets that don't involve land, and these assets also have great value. Often the value lies in their growth and not the income they produce. New rules have developed in the fiduciary accounting area, that provide elections that often result in favorable benefits to the trust and the beneficiaries. This section of the 1041 Workshop will explore those elections.
Presented by Jacqueline Patterson
CPAs and financial professionals.
Fiduciary Accounting Part 2: Tools, Rules and Relationship to Tax 2023
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