|
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.
- Medicaid Update – Federal Deficit Reduction Act of 2005 and Related New Rules.
- Medicaid Update – Deficit Reduction Act of 2005! New rules coupled with old rules and related planning opportunities.
- 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.
- Repeal of Expanded Estate Recovery Rules and A Return to Probate Estate Recovery and a Review of the Old & New Rules & Remaining Opportunities.
- DISCUSSION AND ANALYSIS.
- Changes to the Treatment of Married Couple’s Assets When One Spouse is Institutionalized.
- New Appendix / Valuable Reference Materials & New Sample Irrevocable Trust.
- 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:
- Introduction
- Definitions and General Filing Requirements.
- Income Taxation of Simple, Complex and Grantor Trusts.
- Decedents Final Return & Income in Respect of Decedent.
- Estate Administration Procedural Checklist.
- Computation of DNI with related 1041 Tax Return Examples
- 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.
|
