2016 Super Star Seminar 

 

Fiduciary Income Taxation
&
Estate, Gift & Generation Skipping Tax
 

Presented by:
 Clinton J. Bentz, CPA, CMA

This 2-day class qualifies for 16 Hours of CPE
 

Day One:
Fiduciary Income Taxation
 

Trust Planning Fundamentals

• Trust terminology
• Fiduciary duties
• Powers of appointment

Income Taxes for Trusts

• Introduction
• Trust Accounting Income (TAI)
• Distributable Net Income (DNI)
• Capital Gains and the NIIT
• Trust distributions and the Tier System

Complex Trust Issues & Elections

• What is a complex trust?
• The Separate Share Rule
• Taxation of trust distributions
• Fiduciary elections

Estate Trusts

• Estate trust differences
• Deductions
• The 645 Election
• Income and Deductions with Respect to a Decedent (IRD/DRD)

 

Day Two:
Estate, Gift & Generation Skipping Tax

 
Overview of estate & gift tax system

• Transfer tax vs. Income tax
• Terminology
• Gift and estate tax rates
• Computation of gift and estate taxes
• Portability and the Deceased Spouse Unused Exclusion (DSUE)

The Federal Gift Tax System

• What is a taxable gift, how is it valued?
• Gift splitting
• Exclusions and deductions
• Filing requirements

The Federal Estate Tax System

• Framework for the federal estate tax
• What is included in the taxable estate?
• Valuation of the estate
• Expenses, debts and deductions
• Filing requirements
• Estate tax credits

The Oregon Estate Tax System

• Differences from the federal system
• The Oregon Natural Resource Credit
• Non-residents, out of state assets

Generation Skipping Transfer Tax

• Overview of the GSTT system
• Calculating the GSTT
• Direct and indirect skips
• Pre-deceased parent rule
• Taxable distributions and terminations
• What do we need to know about a trust regarding GST issues?
• Reverse QTIP trusts

 

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About the Speaker:

Clinton J. Bentz, CPA, CMA

Clint Bentz is a Member with Boldt Carlisle + Smith, a 50 person full-service CPA firm with offices located in Albany, Salem and Stayton, Oregon.  He is both a Certified Public Accountant and a Certified Management Accountant.  After working as a corporate controller for several years, he joined the firm in 1989 and became a Member in 1999.  He is the former chair of the firm's management team.  An honors graduate of the Cannon Trust Tax School, he also leads the firm's Trust and Estate group.  A large part of his practice is devoted to serving the special needs of agricultural and family forest landowner clients.

Clint is an adjunct faculty member of the Cannon Financial Institute, teaching their trust taxation classes.  Clint regularly writes articles on succession and estate planning issues and is a popular speaker on these topics for both lay audiences and tax professionals.  His most recent work is the award-winning “Ties to the Land: Your Family Forest Heritage” succession planning curriculum published in partnership with the OSU Extension Service and the OSU Austin Family Business Program.  He has served on several Oregon Board of Forestry working groups, and helped rewrite Oregon's inheritance tax statute in 2011 and Oregon’s property tax program for small woodland owners in 2003.

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