Fiduciary Accounting & Tax Preparation for Estates & Trusts

Friday, August 26 8:00am - 4:00pm

(Check-In 7:30am)

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Hilton Garden Inn

2465 Grant Rd
Billings, MT 59102

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8.00 Credits

Member Price $275.00

Price will increase by $50 after 8/5

Non-Member Price $325.00

Price will increase by $50 after 8/5

Overview

All materials will be electronic only

Financial accounting for trusts and estates is one of the least understood branches of accounting. Fiduciary accounting is not particularly concerned with recording income and expenses but is obsessed with determining whether receipts and expenditures are assigned to income or principal/corpus. Only after that is known can the trustee begin to make their required and discretionary distributions to beneficiaries. However, very few noncorporate trustees have any idea of what is required for proper trust accounting and reports. This course will dive into this tricky area and provide a reporting guide for fiduciary accounting.

Highlights

  • Examine provisions of the Uniform Principal and Income Act
  • Mandatory and discretionary allocations and adjustments (did you know that depreciation is a Discretionary adjustment?)
  • Trustees ability to override the fallback rules
  • Review the contents of a proper set of trust accounting statements

 

Prerequisites

Basic working knowledge of S corporations.

Designed For

Experienced CPAs working with estates and trusts.

Objectives

Upon completion of this course you will be able to:

  • Provide a working knowledge of the financial accounting rules for estates and trusts.
  • Discuss planning and potential pitfalls.

 

Preparation

None

Leader(s):

Leader Bios

Doug Van Der Aa

Douglas J. VanDerAa, CPA, JD, has been a discussion leader for Federal Tax Workshops, Inc., East Lansing for the past 6 years. He is a lively and energetic speaker – especially on the subject of taxes and ethics, and has extensive experience in leading discussions in conferences, seminars and webinars.

Doug is a regular and highly rated speaker and seminar leader for the Michigan Association of Certified Public Accountants, as well as other organizations throughout the country.

Doug has over 20 years of experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. Formerly, Doug was a Tax Manager with Hungerford, Aldrin, Nichols & Carter, P.C. in Grand Rapids, Michigan, where his practice concentrated on the tax needs of mid-sized closely held businesses, with their related pass-through entities, complex individual returns including AMT issues, estates and trusts.

Most recently, Doug served a one-year term as Assistant Professor of Accounting and Taxation for Grand Valley State University’s Seidman College of Business, where he taught in both the undergraduate and MST programs.

He earned his Bachelor of Arts degree with a major in accounting from Dordt College and his Juris Doctor from the University of Illinois College of Law.

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Non-Member Price $325.00

Member Price $275.00