Cash liquidating distribution

ordinary income*How to classify receipts between "income" and "corpus" under the Uniform Principle and Income Act *How to calculate distributable net income (DNI) using a forms method (Schedule B), code method and shortcut method (worksheet) *Proper W-2 preparation and procedures in the year of death *What to do when a taxpayer passes before taking a required minimum distribution *Forgetful fiduciaries of simple trusts *Fluctuating trusts -- simple one year, complex the next *How to divide income in the year of death *Overview of Subchapter J *Form 1041 preparation issues, filing requirements and line-by-line steps *Taxable income of estates and trusts, and expense allocation issues *Specific deductions and miscellaneous itemized deductions *Income in respect of a decedent *How to calculate the income distribution deduction *How the principal and income law relates to DNI *How to handle capital gains and losses *How to allocate tax items to beneficiaries -- another K-1 *Comprehensive DNI calculation case study *Trust and estate case studies with completed forms*20 documents (beyond the will or trusts) that should be reviewed for middle-income clients *Applicable estate tax rates and tactics to minimize them *Tips for reducing the impact of ancillary administration *Necessary provisions in a will *When a trust is needed for children *Durable powers of attorney for financial matters and health care *Asset protection strategies -- upsides and downsides *Insurance management -- umbrella liability, disability and life *Methods for dealing with marriage and divorce *Titling assets effectively *Techniques for avoiding the loss of capital and passive losses at death *Elder care planning *Latest on portability of the deceased spouse's unused exemption amount *Developments related to estate tax repeal, and the implications for planning*2017 tax legislation and developments related to business provisions, including: Section 179 immediate expense deduction; bonus depreciation; cash method accounting; corporate tax rate; non-deductibility of entertainment expense; excess business losses; and numerous other provisions.*Definition of what qualifies as a travel expense.*Definition of what qualifies as an entertainment expense.*Strategies to deduct business transportation expenses.*Deductible meals.*Situations not subject to the 50% meals reduction.*How to handle automobile issues related to commuting vs.

business transportation.*Proper accounting for deductible vs. non-deductible expenditures.*The four steps to analyze business expenses.*The latest federal legislation, cases and rulings.*General Data Protection Regulation *Ways to comply with GDPR requirements from outside the European Union *Data governance basics *Generally Accepted Privacy Principles (GAPP) and SOC Trust Services Criteria for Privacy (2016)*General Data Protection Regulation *Ways to comply with GDPR requirements from outside the European Union *Data governance basics *Generally Accepted Privacy Principles (GAPP) and SOC Trust Services Criteria for Privacy (2016)* What income statements bring to the table.* What a statement of cash flows tells us about the management of an organization.* Interrelationships of the numbers.* Reading and understanding budget to actual reports.* Tips and ideas to use in tracking the story of your organization.* GAAP for personal financial statements (SOP No.

*Overview of preparation, compilation and review guidance *Accounting and reporting issues *Current practice issues *Common peer review deficiencies and how to avoid them *Current and future standard-setting projects *Special purpose framework financial statement issues *Case studies *Latest developments*SSARS No. 22 -- Compilation of Pro Forma Financial Information *SSARS No. 197 amortizable intangibles regulations *How to allocate purchase price for tax advantage *Liquidations as alternatives to sales of a business *Planning to avoid double taxation under repeal of the general utilities doctrine *Special problems and opportunities when an S Corporation is the buyer or seller *Installment sale and interest issues *Bootstrap acquisitions *State tax issues *Unique issues in buying and selling of limited liability company (LLC) or partnership interests *Individually owned goodwill*Recognizing Why Clients Fail * Distinguish and Understand the Core Objectives of an Estate Plan * Implementation of the Core Objectives * Understanding the Needs of a Client * How to Gather Data * Disability Issues * Distribution Issues * Identifying Failures * Proper Selection of Fiduciaries*Recently issued FASB Accounting Standards Updates (ASUs), including an update on leases, revenue recognition and financial instruments *Current FASB projects *Recent PCAOB guidance *Latest activity from ARSC*Sec.

23 -- Omnibus Statement on Standards for Accounting and Review Services *Sample comprehensive engagement work programs for preparation, compilation and review engagements *Designing and performing procedures to meet each engagement objective *Reporting and disclosure illustrations for each level of service, including attesting on personal financial statements, prescribed form, special purpose framework and other engagement variations *Other communication requirements, such as sample engagement letters and management representation letters *Quality issues related to SSARS No. 199A deduction for qualified business income -- limitations, allowances and the effect of business losses *Limitations on deducting excess business losses *When business interest limitations apply and the available options to elect out *Comparison of the C Corporation alternative *Key federal tax developments and review of IRS pronouncements, treasury regulations and court cases *Practical planning tips and illustrations based on a practitioner's real-world examples *Important estate and gift, tax-exempt, payroll tax and other federal developments*Interest limitation rules, including election out for real property businesses and farmers.

199A deduction for qualified business income -- limitations, allowances and the effect of business losses *Limitations on deducting excess business losses *When business interest limitations apply and the available options to elect out *Comparison of the C Corporation alternative *Key federal tax developments and review of IRS pronouncements, treasury regulations and court cases *Practical planning tips and illustrations based on a practitioner's real-world examples *Important estate and gift, tax-exempt, payroll tax and other federal developments*Sec.

199A deduction for qualified business income -- limitations, allowances and the effect of business losses *Limitations on deducting excess business losses *When business interest limitations apply and the available options to elect out *Comparison of the C Corporation alternative *Key federal tax developments and review of IRS pronouncements, treasury regulations and court cases *Practical planning tips and illustrations based on a practitioner's real-world examples *Important estate and gift, tax-exempt, payroll tax and other federal developments*Recently issued FASB Accounting Standards Updates (ASUs), including an update on leases, revenue recognition and financial instruments *Current FASB projects *Recent PCAOB guidance *Latest activity from ARSC*Accounting standards updates *AICPA Auditing Standards Board (ASB) Clarity Project *AICPA activities and emerging issues related to not-for-profit entities *Governmental Accounting Standards Board (GASB) activities*C Corporation Tax Changes * Definition of a Pass-Through Entity * The "20% Deduction" Computation * Eligible (Qualified) Business Income Limitation * Taxable Income Limitation * "Specialized Service Trade or Business" * The "Non-Specialized Service Trade or Business" Limitation*C Corporation Tax Changes * Definition of a Pass-Through Entity * The "20% Deduction" Computation * Eligible (Qualified) Business Income Limitation * Taxable Income Limitation * "Specialized Service Trade or Business" * The "Non-Specialized Service Trade or Business" Limitation*Integrated Planning Techniques (Estate, Financial, and Asset Protection) * Needs of the Business Owner * Business Continuation Consideration * Succession Planning Issus Tax Non-Tax * Dealing with the Owner * Integration of Retirement Needs * "Buy-Sell Agreement" Issues * Liquidity Issues*An overview of the fringe benefit planning process * Understanding the needs of the business owner * Understanding the needs of the employees * Options under IRC 132 fringe benefit plans * Automobile issues * Disability issues * Dependent care issues * Medical issue* * Long-term care issues * Life insurance issues * Education issues * Expense reimbursement issues * Cafeteria plan issues*Issues for individuals with homes in multiple states *Traveling employees *Where to withhold *Sales tax topics -- internet sellers and the Amazon rule, attributional nexus and taxation in the cloud *Nexus for income and sales tax *Economic nexus (taxation without physical presence) *Attributional and agency nexus *Presence of intangible property *Public Law 86-272 -- is it still valid? 197 amortizable intangibles regulations *How to allocate purchase price for tax advantage *Liquidations as alternatives to sales of a business *Planning to avoid double taxation under repeal of the general utilities doctrine *Special problems and opportunities when an S Corporation is the buyer or seller *Installment sale and interest issues *Bootstrap acquisitions *State tax issues *Unique issues in buying and selling of limited liability company (LLC) or partnership interests *Individually owned goodwill* Social Security planning, benefit calculation, and beneficiaries.* Recent changes to "file and suspend" and "restricted application" strategies.* Increasing benefits for self-employed individuals.* Plan for surviving spouses.* Integrating retirement plan distribution strategies with Social Security claiming strategies.* Coordinating drawing Social Security benefits with the start of Medicare benefits.*"Little GAAP" *New U. accounting principles *Revenue recognition *Leases *Financial Accounting Standards Board (FASB) financial instruments project *Securities and Exchange Commission (SEC) hot topics *Updated enterprise risk management framework from the Committee of Sponsoring Organizations (COSO) *Current technology trends relevant to CPAs *Accounting, auditing, compilation and review matters on the radar*Recent tax acts and new legislation *New proposed tax form which calculates basis and is designed to be attached to individual returns *How to calculate basis, including detailed worksheets *Executor's new IRS form for disclosing basis in certain distributed property *Basis of a property distribution from a trust *How Sec.

In January 2017, REIT stockholders approved the liquidation and dissolution of the company, and the company sold the final property in its portfolio last month, as reported by The DI Wire.

The liquidating distribution will be included in each stockholder’s Form 10, along with the initial liquidating distribution of

ordinary income*How to classify receipts between "income" and "corpus" under the Uniform Principle and Income Act *How to calculate distributable net income (DNI) using a forms method (Schedule B), code method and shortcut method (worksheet) *Proper W-2 preparation and procedures in the year of death *What to do when a taxpayer passes before taking a required minimum distribution *Forgetful fiduciaries of simple trusts *Fluctuating trusts -- simple one year, complex the next *How to divide income in the year of death *Overview of Subchapter J *Form 1041 preparation issues, filing requirements and line-by-line steps *Taxable income of estates and trusts, and expense allocation issues *Specific deductions and miscellaneous itemized deductions *Income in respect of a decedent *How to calculate the income distribution deduction *How the principal and income law relates to DNI *How to handle capital gains and losses *How to allocate tax items to beneficiaries -- another K-1 *Comprehensive DNI calculation case study *Trust and estate case studies with completed forms*20 documents (beyond the will or trusts) that should be reviewed for middle-income clients *Applicable estate tax rates and tactics to minimize them *Tips for reducing the impact of ancillary administration *Necessary provisions in a will *When a trust is needed for children *Durable powers of attorney for financial matters and health care *Asset protection strategies -- upsides and downsides *Insurance management -- umbrella liability, disability and life *Methods for dealing with marriage and divorce *Titling assets effectively *Techniques for avoiding the loss of capital and passive losses at death *Elder care planning *Latest on portability of the deceased spouse's unused exemption amount *Developments related to estate tax repeal, and the implications for planning*2017 tax legislation and developments related to business provisions, including: Section 179 immediate expense deduction; bonus depreciation; cash method accounting; corporate tax rate; non-deductibility of entertainment expense; excess business losses; and numerous other provisions.*Definition of what qualifies as a travel expense.*Definition of what qualifies as an entertainment expense.*Strategies to deduct business transportation expenses.*Deductible meals.*Situations not subject to the 50% meals reduction.*How to handle automobile issues related to commuting vs.

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ordinary income*How to classify receipts between "income" and "corpus" under the Uniform Principle and Income Act *How to calculate distributable net income (DNI) using a forms method (Schedule B), code method and shortcut method (worksheet) *Proper W-2 preparation and procedures in the year of death *What to do when a taxpayer passes before taking a required minimum distribution *Forgetful fiduciaries of simple trusts *Fluctuating trusts -- simple one year, complex the next *How to divide income in the year of death *Overview of Subchapter J *Form 1041 preparation issues, filing requirements and line-by-line steps *Taxable income of estates and trusts, and expense allocation issues *Specific deductions and miscellaneous itemized deductions *Income in respect of a decedent *How to calculate the income distribution deduction *How the principal and income law relates to DNI *How to handle capital gains and losses *How to allocate tax items to beneficiaries -- another K-1 *Comprehensive DNI calculation case study *Trust and estate case studies with completed forms*20 documents (beyond the will or trusts) that should be reviewed for middle-income clients *Applicable estate tax rates and tactics to minimize them *Tips for reducing the impact of ancillary administration *Necessary provisions in a will *When a trust is needed for children *Durable powers of attorney for financial matters and health care *Asset protection strategies -- upsides and downsides *Insurance management -- umbrella liability, disability and life *Methods for dealing with marriage and divorce *Titling assets effectively *Techniques for avoiding the loss of capital and passive losses at death *Elder care planning *Latest on portability of the deceased spouse's unused exemption amount *Developments related to estate tax repeal, and the implications for planning*2017 tax legislation and developments related to business provisions, including: Section 179 immediate expense deduction; bonus depreciation; cash method accounting; corporate tax rate; non-deductibility of entertainment expense; excess business losses; and numerous other provisions.*Definition of what qualifies as a travel expense.*Definition of what qualifies as an entertainment expense.*Strategies to deduct business transportation expenses.*Deductible meals.*Situations not subject to the 50% meals reduction.*How to handle automobile issues related to commuting vs.

business transportation.*Proper accounting for deductible vs. non-deductible expenditures.*The four steps to analyze business expenses.*The latest federal legislation, cases and rulings.*General Data Protection Regulation *Ways to comply with GDPR requirements from outside the European Union *Data governance basics *Generally Accepted Privacy Principles (GAPP) and SOC Trust Services Criteria for Privacy (2016)*General Data Protection Regulation *Ways to comply with GDPR requirements from outside the European Union *Data governance basics *Generally Accepted Privacy Principles (GAPP) and SOC Trust Services Criteria for Privacy (2016)* What income statements bring to the table.* What a statement of cash flows tells us about the management of an organization.* Interrelationships of the numbers.* Reading and understanding budget to actual reports.* Tips and ideas to use in tracking the story of your organization.* GAAP for personal financial statements (SOP No.

*Overview of preparation, compilation and review guidance *Accounting and reporting issues *Current practice issues *Common peer review deficiencies and how to avoid them *Current and future standard-setting projects *Special purpose framework financial statement issues *Case studies *Latest developments*SSARS No. 22 -- Compilation of Pro Forma Financial Information *SSARS No. 197 amortizable intangibles regulations *How to allocate purchase price for tax advantage *Liquidations as alternatives to sales of a business *Planning to avoid double taxation under repeal of the general utilities doctrine *Special problems and opportunities when an S Corporation is the buyer or seller *Installment sale and interest issues *Bootstrap acquisitions *State tax issues *Unique issues in buying and selling of limited liability company (LLC) or partnership interests *Individually owned goodwill*Recognizing Why Clients Fail * Distinguish and Understand the Core Objectives of an Estate Plan * Implementation of the Core Objectives * Understanding the Needs of a Client * How to Gather Data * Disability Issues * Distribution Issues * Identifying Failures * Proper Selection of Fiduciaries*Recently issued FASB Accounting Standards Updates (ASUs), including an update on leases, revenue recognition and financial instruments *Current FASB projects *Recent PCAOB guidance *Latest activity from ARSC*Sec.

23 -- Omnibus Statement on Standards for Accounting and Review Services *Sample comprehensive engagement work programs for preparation, compilation and review engagements *Designing and performing procedures to meet each engagement objective *Reporting and disclosure illustrations for each level of service, including attesting on personal financial statements, prescribed form, special purpose framework and other engagement variations *Other communication requirements, such as sample engagement letters and management representation letters *Quality issues related to SSARS No. 199A deduction for qualified business income -- limitations, allowances and the effect of business losses *Limitations on deducting excess business losses *When business interest limitations apply and the available options to elect out *Comparison of the C Corporation alternative *Key federal tax developments and review of IRS pronouncements, treasury regulations and court cases *Practical planning tips and illustrations based on a practitioner's real-world examples *Important estate and gift, tax-exempt, payroll tax and other federal developments*Interest limitation rules, including election out for real property businesses and farmers.

199A deduction for qualified business income -- limitations, allowances and the effect of business losses *Limitations on deducting excess business losses *When business interest limitations apply and the available options to elect out *Comparison of the C Corporation alternative *Key federal tax developments and review of IRS pronouncements, treasury regulations and court cases *Practical planning tips and illustrations based on a practitioner's real-world examples *Important estate and gift, tax-exempt, payroll tax and other federal developments*Sec.

199A deduction for qualified business income -- limitations, allowances and the effect of business losses *Limitations on deducting excess business losses *When business interest limitations apply and the available options to elect out *Comparison of the C Corporation alternative *Key federal tax developments and review of IRS pronouncements, treasury regulations and court cases *Practical planning tips and illustrations based on a practitioner's real-world examples *Important estate and gift, tax-exempt, payroll tax and other federal developments*Recently issued FASB Accounting Standards Updates (ASUs), including an update on leases, revenue recognition and financial instruments *Current FASB projects *Recent PCAOB guidance *Latest activity from ARSC*Accounting standards updates *AICPA Auditing Standards Board (ASB) Clarity Project *AICPA activities and emerging issues related to not-for-profit entities *Governmental Accounting Standards Board (GASB) activities*C Corporation Tax Changes * Definition of a Pass-Through Entity * The "20% Deduction" Computation * Eligible (Qualified) Business Income Limitation * Taxable Income Limitation * "Specialized Service Trade or Business" * The "Non-Specialized Service Trade or Business" Limitation*C Corporation Tax Changes * Definition of a Pass-Through Entity * The "20% Deduction" Computation * Eligible (Qualified) Business Income Limitation * Taxable Income Limitation * "Specialized Service Trade or Business" * The "Non-Specialized Service Trade or Business" Limitation*Integrated Planning Techniques (Estate, Financial, and Asset Protection) * Needs of the Business Owner * Business Continuation Consideration * Succession Planning Issus Tax Non-Tax * Dealing with the Owner * Integration of Retirement Needs * "Buy-Sell Agreement" Issues * Liquidity Issues*An overview of the fringe benefit planning process * Understanding the needs of the business owner * Understanding the needs of the employees * Options under IRC 132 fringe benefit plans * Automobile issues * Disability issues * Dependent care issues * Medical issue* * Long-term care issues * Life insurance issues * Education issues * Expense reimbursement issues * Cafeteria plan issues*Issues for individuals with homes in multiple states *Traveling employees *Where to withhold *Sales tax topics -- internet sellers and the Amazon rule, attributional nexus and taxation in the cloud *Nexus for income and sales tax *Economic nexus (taxation without physical presence) *Attributional and agency nexus *Presence of intangible property *Public Law 86-272 -- is it still valid? 197 amortizable intangibles regulations *How to allocate purchase price for tax advantage *Liquidations as alternatives to sales of a business *Planning to avoid double taxation under repeal of the general utilities doctrine *Special problems and opportunities when an S Corporation is the buyer or seller *Installment sale and interest issues *Bootstrap acquisitions *State tax issues *Unique issues in buying and selling of limited liability company (LLC) or partnership interests *Individually owned goodwill* Social Security planning, benefit calculation, and beneficiaries.* Recent changes to "file and suspend" and "restricted application" strategies.* Increasing benefits for self-employed individuals.* Plan for surviving spouses.* Integrating retirement plan distribution strategies with Social Security claiming strategies.* Coordinating drawing Social Security benefits with the start of Medicare benefits.*"Little GAAP" *New U. accounting principles *Revenue recognition *Leases *Financial Accounting Standards Board (FASB) financial instruments project *Securities and Exchange Commission (SEC) hot topics *Updated enterprise risk management framework from the Committee of Sponsoring Organizations (COSO) *Current technology trends relevant to CPAs *Accounting, auditing, compilation and review matters on the radar*Recent tax acts and new legislation *New proposed tax form which calculates basis and is designed to be attached to individual returns *How to calculate basis, including detailed worksheets *Executor's new IRS form for disclosing basis in certain distributed property *Basis of a property distribution from a trust *How Sec.

In January 2017, REIT stockholders approved the liquidation and dissolution of the company, and the company sold the final property in its portfolio last month, as reported by The DI Wire.

The liquidating distribution will be included in each stockholder’s Form 10, along with the initial liquidating distribution of $1.00 per share of common stock paid in March 2017.

.00 per share of common stock paid in March 2017.

cost of performance *Pass-through problems -- nexus for interest owners, withholding issues, sourcing of income and entity-level taxation *State nexus questionnaires *Responsibility of officers, members, partners and shareholders *Pending federal and state tax legislation*How to develop an offer price using the discounted cash flow and alternate valuation methods *Confidentiality agreements, memorandums of understanding and asset purchase agreements *Due diligence in acquisitions -- checklists of important points *Deemed asset sales -- is Sec. 704 rules for preventing the shift of tax consequences among partners or members *How to calculate basis under Sec. 465 *How recourse, nonrecourse and qualified nonrecourse debt can create very different tax results *Basis vs. 754 step-up in basis rules *The economic effect equivalence test or "dumb-but-lucky" rule*How trusts and estates are taxed under the internal revenue code *Trusts vs. complex trusts *How the income of a trust or estate is defined for tax purposes *Ordinary deductions and credits that are allowed *How the deduction for distributions to beneficiaries is determined *How trust and estate beneficiaries are taxed *Grantor trusts and how they are taxed *Form 1041 preparation*How to prepare various Form 1040 individual tax returns and schedules (with filled-in forms) *Due diligence requirements for the Child Credit and American Opportunity Credit *Tax filing status -- rules, planning opportunities and pitfalls *Dividends and interest -- ordinary, return of capital and capital gain distribution dividends; tax-exempt interest; original issue discount and more *Security transactions -- Form 1099-B, Form 8948, Schedule D, mutual fund sales and related basis issues *Self-employment issues *Schedule C deductions including depreciation *Sale and exchange of property -- Form 4797, depreciation recapture and capital gains *Passive losses -- rental property and how the passive loss rules flow to tax forms *In-depth look at itemized deductions -- what is and is not deductible *Interest deductions -- limitations and timing problems *Retirement contributions *Education credits and deductions *Child care credits and adoption tax credit *Tax computation -- kiddie tax, alternative minimum tax (AMT), regular tax, credits and more *Impact of recent legislation and changes to Form 1040*Comprehensive coverage of the flagship item of tax reform -- Sec."* Why do people want to name a trust as the beneficiary?* Income Tax Aspects of Trusts as beneficiary* What happens when the trust beneficiary dies?6).* Using personal financial statements in financial planning and retirement planning.*Classifying receipts between "Income" and "Corpus" under the Uniform Principle and Income Act*Calculation of DNI utilizing three different methods, a "Forms" method (Schedule B), a "Code" method, and a "Shortcut" method, utilizing a worksheet of common income and expenses*Proper W-2 preparation and procedures in the year of death*Taxpayer passes before taking a required minimum distribution; what must be done?*Forgetful fiduciaries of Simple Trusts *Fluctuating trusts -- Simple one year, complex the next*Dividing income in the year of death *Overview of Subchapter J *Form preparation issues -- Filing requirements and line-by-line explanations of Form 1041 *Taxable income of estates and trusts and expense allocation issues *Specific deductions and miscellaneous itemized deductions *Income in respect of a decedent *The income distribution deduction calculation *Relation of principal and income law to DNI *Understanding how to handle capital gains and losses *Allocating tax items to beneficiaries: another K-1*Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation *Comprehensive trust and estate case studies, with filled-in forms*Payroll tax requirements for wages, including wages subject to the new .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options, and tips *Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates, and per diem rates *Special issues -- Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition, and state and local tax withholding *Statutory employees, independent contractors, and possible changes to Section 530 relief *Penalties -- Who is a responsible person?

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