The State Bar od Michigan's Taxation Section will present a "Trust Income Taxation Webinar" on Wednesday, February 17, from 11 a.m. to 12:15 p.m. via Zoom.
This webinar provides an overview on 2021 trust income taxation hot topics, which includes a discussion on the following:
• Importance of identifying the type of trust (e.g., spotting grantor trusts and foreign trusts)
• Reminders for trusts with S corporation stock
• Material participation considerations
• Charitable contributions made by trusts
• Income allocation between trusts and beneficiaries
• Adhering to the intent and language of the trust instrument while minding tax positions of the trust and its beneficiaries
• Allocating capital gains to beneficiaries
• 65-day elections
• Form 1041-T and the ability to allocate estimated tax payments to beneficiaries
• Deductible expenses after TCJA
• State residency and related considerations
• Non-US beneficiaries of US trusts
• Filing tips for the 2021 season
Presenting at the webinar will be Astrid Braeuer and Bryan W. Bussert.
Braeuer is a tax partner, Private Client Services, with BDO in Troy. She focuses on individual and fiduciary income tax, estate and gift tax, cross-border planning, financial counseling as well as tax compliance and consulting for flow-through entities, and serves a number of family-owned businesses, high net-worth individuals, and executives.
Bussert is a tax senior manager, Private Client Services, with BDO in Troy. He is a speaker and author on topics of estate planning, wealth transfer techniques, U.S. income taxation of estates, trusts, and their beneficiaries, and U.S. tax and information reporting requirements for globally-mobile individuals.
Buzz S. Leach of Southern Michigan Bank & Trust will moderate the webinar.
The online program is free to attend. To register, email program facilitator Mary Owiesny at mowiesny@honigman.com. Shortly after registering, a Zoom invitation will be sent to attend the webinar.
