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Presenter: Russell A Willis III, J.D., LL.M.

Seminar Date:

Seminar Location: Albuquerque, NM

Albuquerque Marriott Pyramid North
5151 San Francisco Road NE
Albuquerque, NM 87109
Phone: 505-821-3333

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Agenda:

Registration:                        8:00 - 8:30 am

Morning Session:                8:30 - 11:45 am

Lunch (On your own):         11:45 am - 12:45 pm

Afternoon Session:             12:45 - 4:40 pm


 Income Taxation of Estates: Basic Concepts and Issues

   Commencement and duration of estates
   Principles of income taxation of estates
   Accounting methods
   Taxable years
   Determining tax period, making estimated payments, filing returns
   Overview of recent and anticipated developments


Income Taxation of Trusts: Basic Concepts and Issues

   Commencement and duration of trusts
   Principles of income taxation of trusts
   Importance of grantor trusts in income tax planning
   Taxable years
   Determining tax period, making estimated payments, filing returns


Fundamental Fiduciary Tax and Accounting Concepts

   Trust accounting income
   Distributable net income
   Taxable income


Income Reportable by Fiduciaries

   Interest and dividend income
   Business income and capital gains/losses
   Rents, royalties, partnership and other income
   Farm income and ordinary income


Deductions Available to Fiduciaries

   General rules
   Specific deductions
   Income distribution deduction


Tax Calculations, Credits, Payments and Special Rules

   How to handle taxable income
   Available credits
   Payment of tax


Special Issues and Situations

   Trust and estate distributions
   Alternative minimum tax
   Net investment income tax


Sample Problems for Form 1041 Preparation

   Simple trusts
   Complex trusts
   Estates

Credit Information:

Who Should Attend

  • Accountants/CPAs
  • Attorneys
  • Certified Financial Planners
  • Enrolled Agents
  • Registered Tax Return Preparers

Accountants
     8.0 CPE Hours

New Mexico Attorneys
     6.6 CLE Hours

Certified Financial Planners
     8.0 CE Hours

IRS Enrolled Agents and other
Tax Return Preparers
     8.0 CE Hours


Continuing Education Credit Information

This seminar is open to the public and offers accountants 8.0 intermediate level CPE hours in the area of taxation. A basic understanding of taxes and trusts is recommended and no advance preparation is required. The New Mexico Public Accountancy Board accepts courses from providers that are members of NASBA’s National Registry of CPE Sponsors.

HalfMoon Education Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

The New Mexico MCLE Board has approved this seminar for 6.6 general CLE hours for attorneys.

HalfMoon Education Inc. is a CFP Board-Registered continuing education sponsor. The Certified Financial Planner Board of Standards, Inc. has granted 8.0 hours of continuing education credit for the completion of this seminar.

This program qualifies for 8.0 hours of continuing education credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g). This course offers 8.0 continuing education hours to other tax return preparers, for which continuing education is not mandatory.

Attendance certificates will be available after the seminar for most individuals who complete the entire event. Attendance certificates not available at the seminar will be mailed to participants within fifteen business days.

Speakers:

Russell A Willis III, J.D., LL.M.

Director of The Greystocke Project

Mr. Willis is a freelance writer and a consultant in transfer tax planning. For ten years, he wrote for a subscription website that provided daily coverage and in-depth analysis of developments in tax law affecting charitable gift planning. Last year he launched his own newsletter, the Jack Straw Fortnightly, analyzing current developments in the law -- both tax and nontax -- concerning the transfer of private wealth in this country. As a practicing lawyer in St. Louis, Missouri, for more than 20 years, Mr. Willis chaired the Steering Committee of the Probate and Trust Law Section of the local bar association and served for years on a legislative drafting subcommittee of the Probate and Trust Law Committee of the State Bar. As an adjunct member of the faculty at the St. Louis University School of Law, he taught courses in future interests and tax-driven estate planning. Mr. Willis has written numerous articles for law journals and publications serving the charitable planned giving profession, and he has been a frequent speaker at seminars for lawyers and for charitable gift planners. Mr. Willis has a law degree from St. Louis University and a master’s degree in Taxation Law from Washington University in St. Louis. His undergraduate degree in English Literature is from Indiana University, Bloomington, and he has a master’s degree in English from the University of Chicago.

Tuition Costs:

Standard Tuition: $299.00
Online Tuition (pre-registration): $299.00
Group Prices
3 or more People: $279.00

Each registration includes one copy of a manual prepared by the seminar speakers.