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As a tax practitioner, you may have contemplated adding personal financial planning services to your practice. There is a natural progression to go from being your client's most trusted tax advisor to also being their most trusted personal financial advisor. But you have questions: will it be profitable? How do I get started? What are other CPA firms doing? All of these questions are addressed in a new research study published by the AICPA's PFP Section that can show you how to expand your services into this lucrative niche area that is a great compliment to your tax practice.

The Personal Financial Planning Section of AICPA and Moss Adams LLP are pleased to announce the results of their first joint study of CPA financial planning and advisory practices- AICPA/Moss Adams CPA Financial Planning Practice Study.

Click here for more information

 
Tax Home > Resources > Trust, Estate and Gift > Trusts > Fundamentals of Income Tax for Estates and Trusts Part II
Fundamentals of Income Tax for Estates and Trusts Part II

This PowerPoint presentation covers the income tax treatment for estates and trusts, including: how a trust is taxed, personal exemptions, the distribution deduction, income for distribution purposes, distributable net income (DNI) under section 643(a), DNI relationships, tiers of distributions, deductions, deductions subject to 2% limitation, deductions allocated to classes of DNI, distributions in kind, impact to trust or estate, impact on beneficiary, case problem for simple trust and distribution deduction. It was developed by the AICPA Trust, Estate, and Gift Tax TRP and its Trust Accounting Income Task Force and was presented at the IRS National Forums in the Summer 2005.

 

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Copyright © 2005 by the American Institute of Certified Public Accountants, Inc., New York, New York.