How Trusts are Taxed under the Current Rules, and How it Affects Individual Taxes
Tax regulations have undergone a significant overhaul in the recent years, and knowing exactly what these changes mean for your clients is imperative for effective planning. This tax briefing will clarify how trusts affect clients' individual tax planning and will give you a regulatory tax update with practical application tips. Register today!
Get a quick review of the latest tax laws and rate changes.
Understand how trust structure determines tax calculation and reporting.
Distinguish between accounting and taxable income and learn how trust income tax is reported.
Current Federal Tax Regime in Relation to Trusts
Difference Between Accounting Income and Taxable Income
Grantor Trust Status and Reporting
Tax Consequences of Beneficiary Distributions
State Taxation of Trusts
Living vs. Testamentary Trusts for Tax Purposes
Tax Consequences of Trusts in Estate Administration
C. Page Hamrick III , J.D., CPA, is the principal of the Charleston law firm of C. Page Hamrick III, Attorney at Law. Mr. Hamrick has concentrated his practice in the areas of divorce law, tax, and corporate estate law. He has served as a family law master, as assistant attorney general, as counsel to the West Virginia Legislature, and as a hearing officer for numerous state agencies. Mr. Hamrick is a certified public accountant. He has testified as an expert witness in matters involving federal and state tax, financial analysis, and real estate. Mr. Hamrick is a member of The West Virginia State Bar, the American Association of Attorney-CPAs, and the West Virginia Society of Certified Public Accountants. He regularly teaches tax and law courses at Marshall University and has taught accounting at West Virginia University-Tech. Mr. Hamrick earned his B.S.B.A. and J.D. degrees from West Virginia University, and his M.B.A. degree from the Marshall University (formerly WVCOGS).
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