2012 Seminar Archive

2012 Seminar Archive

FEATURED SEMINAR

October 23, 2012

Preparing Fiduciary Income Tax Returns for Decedents, Estates & Trusts - MAA

Date: 10-23-2012

Time: 9:00 AM - 5:00PM

Location: Holiday Inn Select, 15 Middlesex Canal Park Drive, Woburn

Speakers: Leo J. Cushing, Esq., CPA, LLM and Todd E. Lutsky, Esq., LLM

Description:

If your practice involves the administration of estates, then this practical "clinic" will be time well spent. Get your questions answered regarding the income taxation of decedents estate and trusts; learn how to protect your client from tax liability; learn how to distinguish trust accounting income from taxable income; get practice computing taxable income and distributable income; be briefed on how to fund a bequest - and much more. The session features a hands-on drafting challenge - a sample federal fiduciary income tax return for a complex trust, which you complete with expert guidance. Before the day is over, you have a unique opportunity to "ask the experts" your questions. Don't miss it!

You will learn...

  • How the new Uniform Probate Code (effective March 31, 2012) and the newer Uniform Trust Code (effective July 8, 2012) affects the preparation of fiduciary income tax returns.
  • How the new Obama Care 3.8 % tax on passive income applies to estates and trusts.
  • Allocation of items of income, expense, deduction, and credit between the decedent's final return and the decedent's income, estate, and/or trust tax returns.
  • Demystifying the concept of DNI
    • Understanding simple trusts together with examples
    • Understanding complex trusts together with examples
    • Final year distributions
    • Election to recognize gain
  • Reviewing fractional and pecuniary trusts and understanding the income tax consequences of funding marital and by-pass shares.
  • S corporations and trusts. Don't blow the S election inadvertently.
  • Grantor trusts.
  • Electing small business trusts
  • Qualified QSSTs
  • Grantor Trusts; Anything you need to know about Grantor Trusts
    • How to make a trust a grantor trust and recognize a grantor trust
    • The income tax and federal employer identification number requirements

Understanding transfers and transactions between a grantor and grantor trust (Qualified Personal Residence Trusts, Grantor Retained Annuity Trusts, sales to intentionally defective trusts, home security trusts, promissory notes).

November 1, 2012

Medicaid Planning Update – (FCE)

Date: 11-1-2012

Time: 9:00AM – 1:00PM

Location: Peabody Holiday Inn, One Newbury St. (Route 1 North Bound), Peabody, MA

Speaker: Todd E. Lutsky, Esq., LLM

Description:

The Medicaid Planning Survival Guide includes new Annuity Rule Changes, Planning with Promissory Notes,
and much more (370 + Pages with Sample Irrevocable Trust)
Mass. Medicaid Update - Deficit Reduction Act of 2005 as Adopted by Massachusetts Regulations and Related Planning Opportunities.

  1. Medicaid Update - Federal Deficit Reduction Act of 2005 and Related New Rules.
  2. Medicaid Update - Deficit Reduction Act of 2005! New rules coupled with old rules and related planning opportunities.
  3. A Primer on Income, Gift and Estate Tax Consequences of Life Estates and Whether or Not They Should Still Be Used as a Planning Tool.
  4. Repeal of Expanded Estate Recovery Rules and A Return to Probate Estate Recovery and a Review of the Old & New Rules & Remaining Opportunities.
  5. DISCUSSION AND ANALYSIS.
  6. Changes to the Treatment of Married Couple's Assets When One Spouse is Institutionalized.
  7. New Appendix / Valuable Reference Materials & New Sample Irrevocable Trust.
  8. New 2012 Medicaid Numbers.

November 13, 2012

Federal & Massachusetts Issues (706 & Mass. 706) (FCE)

Date: 11-13-2012

Time: 9:00AM - 1:00PM

Location: Cushing & Dolan, P.C., 375 Totten Pond Road, Suite 200, Waltham, MA

Speaker: Todd E. Lutsky, Esq., LLM

Description:

Join Todd in this exciting walk through of a Federal & Mass. estate.

  • Filing Release of Liens, General Information & Elections;
  • Real Estate - Schedule A;
  • Stocks & Bonds - Schedule B;
  • Mortgages, Notes & Cash - Schedule C;
  • Life Insurance - Schedule D;
  • Joint Property - Schedule E;
  • Other Miscellaneous Property - Schedule F;
  • Lifetime Transfers - Schedule G;
  • Powers of Appointment - Schedule H;
  • Pensions & Annuities - Schedule I;
  • Deductions: Admin. Expenses, Debts & Losses - Schedules J, K, L;
  • Bequests to Surviving Spouse - Schedule M;
  • Charitable Deductions - Schedule O;
  • Generation Skipping Transfers - Schedule R;
  • Credits for Taxes on Prior Transfers, etc. - Schedule P & G;
  • Hypothetical Problem & Federal & State Computations in Detail.
  • Questions and Answers.

November 14, 2012

CPAmerica International's 2012 Tax Conference

Session: Your 2012 Gift Giving Guide

Date: 11-14-2012

Time: 12:00 PM – 1:40 PM

Location: Nashville, Tennessee

Speaker: Leo J. Cushing, Esq., CPA, LLM

Description:

  • An analysis of the legal, gift, estate, and income tax consequences of estate planning & gift giving with trusts, including GRATs, QPRTs, Domestic Asset Protection Trusts, Dynasty Trusts, Charitable Remainder Unitrusts (CRUTs), and Charitable Remainder Annuity Trusts (CRATs)
  • Choosing & changing trust situs and domicile
  • Intentionally Defective Irrevocable Grantor Trusts: Where are we now? A complete summary of recent rulings involving IDITs

November 15, 2012

Divorce Law Basics (FCE)

Date: 11-15-2012

Time: 1:00PM – 5:00PM

Location: Randolph Lantana, 43 Scanlon Drive, Randolph, MA

Speaker: Ann Cushing, Esq.

Description:

Join Ann Cushing in discussing the complexities of Divorce Statutes & Rules, Client Interview, Divorce Procedure, Procedure after the Complaint is Filed, Discovery, Internal Revenue Code, Qualified Domestic Relations Order, Exhibits.

November 20, 2012

Income Taxation of Trusts and Estates (FCE)

Date: 11-20-2012

Time: 9:00AM – 1:00PM

Location: Cushing & Dolan, P.C., 375 Totten Pond Road, Suite 200, Waltham, MA

Speaker: Leo J. Cushing, Esq., CPA, LLM

Description:

  1. Introduction
  2. Definitions and General Filing Requirements.
  3. Income Taxation of Simple, Complex and Grantor Trusts.
  4. Decedents Final Return & Income in Respect of Decedent.
  5. Estate Administration Procedural Checklist.
  6. Computation of DNI with related 1041 Tax Return Examples
  7. Questions and Answers.

December 6, 2012

Estate Planning: Intermediate/Advanced

Date: 12-6-2012

Time: 9:00AM – 5:00PM

Location: Cushing & Dolan, P.C., 375 Totten Pond Road, Suite 200, Waltham, MA

Speaker: Leo J. Cushing, Esq., CPA, LLM

Description:

  • Proposed Legislation
  • Estate Planning Techniques After the 2010 Act
  • Reducing Taxes: Planning & Lifetime Giving
  • Review of the Basics: Computation Example
  • Examination of Typical Trust: General Marital, Special Marital, and Bypass Shares
  • Marital Deduction & Credit Shelter
  • The QTIP
  • Selection of a Trustee
  • Disclaimers
  • Generation Skipping
  • The Irrevocable Life Insurance Trust
  • The Estate Tax Freeze
  • Retirement Plans Problems
  • S Corporation Problems
  • Buy and Sell Agreements
  • Questions and Answers.