1041 Trusts Returns
With Michael R. Miranda, EA
When: Thursday, November 18, 5PM-7PM
Where: Via Zoom
The tax rules that apply to a trust can be quite daunting. This program is designed for professionals with an interest in income taxation of trusts and experience with Form 1041 preparation.
We will review the taxation scheme for a Trust between the taxation of the trust entity and the taxation of the beneficiary. We will discuss the unique aspects of “grantor trusts.” Let us highlight planning opportunities for trusts in your professional tax practice and show you how to increase your firm’s practice revenue. 2 IRS CE will be issued for attending this update.
Objectives
Upon completion of the session, the participant will be able to:
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Understand the basic concepts of federal income taxation of a Trust
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Understand the various types of Trusts and how each Trust type is different
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Understand how the compute the income, deductions, and credits for a Trust
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Understand the significance of distributable net income (DNI)
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Recall the unique aspects of grantor Trusts
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Recall planning opportunities for Trusts
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Potential Tax Legislative Changes to Certain Types of Trusts
*Please Note, if you have signed up for the MaSEA CE Special, you will automatically be added to this event and receive a confirmation during the week of 11/01/2021.*
*MaSEA members, please use the email address that was used to create your NAEA membership to ensure that you receive the membership discounted price.*
*NAEA members, please provide your NAEA number when registering or your registration will be cancelled.*
About Our Speaker
Bringing 45 years of experience with tax consulting, estate planning, and employee benefits to his work as an independent consultant, Michael is the owner of MIRANDA CPA & Consulting LLC in Sioux Falls, SD. His tax practice focuses on corporate, individual, estate and gift, and tax accounting. He also provides employee benefit planning and consultation services for qualified, non-qualified, and health and welfare benefit plans. As part of his IRS representation practice, Michael has worked with the National Office to obtain private letter rulings for clients, in addition to numerous EPCRS submissions and audits. As a nationally recognized tax speaker, he maintains an active schedule presenting webinars and seminars on tax law, employee benefit planning, and estate planning. He currently works with the National Tax Institute, the National Association of Enrolled Agents, Basics & Beyond, and other organizations that request speaker presentations.
Michael spent much of his career as a CPA with a regional CPA firm located in Northwestern Iowa, retiring after 27 years as a senior manager-shareholder with said firm. Prior to this experience, he was a Tax Specialist with a Big 8 accounting firm in their South Bend and Minneapolis offices, providing tax and estate planning for individuals and small to medium-sized businesses. He has earned professional designations including CPA, QKA, and AEP and through professional memberships with the American Institute of Certified Public Accountants (AICPA), the American Society of Pension and Professional Actuaries (ASPPA), National Association of Enrolled Agents (NAEA) and the National Association of Estate Planning Councils (NAEPC). Michael resides in Sioux Falls, SD with his wife Jeanette.
