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Agenda:

Registration:                        8:00 - 8:30 am

Morning Session:                8:30 -  11:45 pm

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

Afternoon Session:             12:45 - 4:40 pm



Morning Presented by Thomas MacFarlane of Clark Hill
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


Afternoon Presented by Mark DeLuca of Foster Swift
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

Accountants
     8.0 CPE Credits

Attorneys
     Non-Credit Michigan CLE
     6.75 Ohio CLE Hours
      6.70 Indiana CLE Hours

IRS Enrolled Agents &Other Tax Return Preparers
     8.0 CE Hours

Certified Financial Planners
     8.0 CFP Hours


Continuing Education Credit Information

This seminar is open to the public. This intermediate level, group live course offers accountants 8.0 CPE hours in the field of taxes. A basic level of federal tax and estate knowledge is suggested, and no advance preparation is required.

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. Sponsor No. 103015.

This course offers a non-credit continuing legal education opportunity to Michigan attorneys. It has been approved by the Supreme Court of Ohio Commission on Continuing Legal Education for 6.75 CLE hours of instruction. The Indiana Office of Admissions & Continuing Education has approved this seminar for 6.7 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 and other tax return preparers under Treasury Department Circular #230 Section 10.6(g).

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

Speakers:

Mark DeLuca

Attorney at Foster Swift

Mr. DeLuca is an associate attorney at Foster Swift in his hometown of Lansing, Michigan. He is a member of the firm’s Trust and Estates Practice Group. Mr. DeLuca advises and counsels clients in estate planning, estate and trust administration, business organization and planning, and estate and trust litigation. He works with his clients to understand their unique goals and implement planning to achieve these goals, with a specific focus on the avoidance or reduction of federal income tax and federal estate, gift, and generation-skipping transfer tax. He regularly drafts estate planning documents for clients, including wills, trusts, powers of attorney, and patient advocate documents. Mr. DeLuca also represents trustees in the administration of trust estates and personal representatives in the administration of probate estates, providing counsel to clients on their rights and duties under Michigan law when serving as a fiduciary. Additionally, he provides income tax planning and income tax compliance services to clients serving as a fiduciary. Prior to attending law school, Mr. DeLuca obtained his certified public accountant license and practice public accounting at KPMG LLP. He was honored with the “Top 5 Under 35” award by the Ingham County Bar Association in 2019. Mr. DeLuca serves on the Board of Directors for Highfields, Inc., is a board member and treasurer for the Greater Lansing Estate Planning Council, and is a member of the Gift Planning Work Group for the Sparrow Foundation. He graduated from the Eli Broad College of Business at Michigan State University with B.A. and M.S. degrees in Accounting, and received his J.D. degree from the Sandra Day O’Connor College of Law at Arizona State University.

Thomas MacFarlane

Attorney at Clark Hill

Mr. MacFarlane is a member attorney for Clark Hill in Birmingham, Michigan. He works extensively with individuals on estate planning, tax planning and probate matters and with businesses on succession planning and corporate restructuring. Mr. MacFarlane counsels clients on wealth preservation strategies which are available to high net-worth individuals. He is also frequently asked to represent beneficiaries or fiduciaries in complex estate contests and trust disputes. He has represented clients in all aspects of corporate law and has counseled individuals, partnerships, limited liability companies and corporations on a variety of tax and business planning issues. Mr. MacFarlane has represented clients in tax audits and tax disputes before the courts and before state and federal administrative agencies. He frequently lectures on estate planning and business planning topics. He has published numerous articles on estate planning, tax planning and business planning. Mr. MacFarlane is active in numerous business and community organizations. He currently serves as a director of the Michigan Science Center, Rose Hill Center, Judson Center Foundation, and the Science and Engineering Fair of Metropolitan Detroit. He is a past president of both the Rotary Club of Detroit and the Detroit Executives Association. Mr. MacFarlane has the rare distinction of being recognized by the publication Best Lawyers as “Lawyer of the Year” in two categories — Trusts and Estates (planning) and Litigation: Trusts and Estates. He was named a Michigan Leading Lawyer in Trust, Will and Estate Planning Law, having been selected by his peers as one of the top 5 percent of practitioners in the state. He is also a charter member of the Michigan Leading Lawyers Advisory Board. Mr. MacFarlane received his B.A. degree from Alma College and his M.B.A. and J.D. degrees from Wake Forest University School of Law.

Tuition Costs:

Standard Tuition: $289.00
Online Tuition (pre-registration): $289.00
Group Prices
3 or more People: $269.00

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