TOPIC: Taxation of Trusts - Part II
Meeting Description:
Are you seeing more clients who have trusts? Are you confident in filling out a trust tax return? Join us for Part II of Taxation of Trusts which will focus on preparation of Form 1041. There will be a brief review of Part I which discussed the different types of trusts.
Learning objectives:
- Brief review of "Types of Trusts" covered in Part I
- Form 1041 Filing Requirements
- Trust Income
- Trust Deductions
- Distributable Net Income
- Accounting Income
- Allocation of Income and Expenses for Accounting Income
- Tier 1 and 2 Distributions
- Tax Computation Schedule G
OUR FEATURED SPEAKER
Pat Rufolo, Esq.
Pasquale J. Rufolo is the founding member of the law firm of Rufolo & Stein, LLC, and practices in the areas of tax, trusts and estates, and business planning.
Mr. Rufolo's corporate tax practice includes representing owners of closely-
held corporations, partnerships, and limited liability companies. He advises clients regarding the federal income tax laws relating to formation (including the preparation and negotiation of operating agreements, shareholders' agreements, etc.), liquidations and other corporate restructuring, executive compensation, withholding tax issues, and various tax accounting issues. He has also handled numerous cases involving the drafting and negotiating of asset and stock purchase agreements, non-competition agreements, as well as employment and confidentiality agreements. Prior to attending law school,
Mr. Rufolo was an accountant working at a number of certified public accounting firms and serving as controller of an "Inc. 500" company.
Mr. Rufolo serves as an Adjunct Professor at Seton Hall University School of Law, where he has taught Federal Income Taxation, Wealth Transfer Tax, Partnership Taxation, and Business Planning. In addition, Mr. Rufolo has served as an Adjunct Professor in the Graduate Tax Program at Fairleigh Dickenson University in Madison, New Jersey, where he taught various tax related courses.
CE Credits: 2 IRS CE, 2 CFP CE, 2 CPA CPE
Richard Reedman, President of the NAEA will join us immediately after dinner, and before our educational seminar, to install the new NJSEA Board and give us an update on NAEA activities.