Fiduciary Income Tax Refresher and Latest Update 2021 provides an overview of fiduciary income tax strategies. This webinar focuses on non-grantor trusts and provides a closer look at standards for making distributions, and explains how the ideas of distributable net income (DNI) and fiduciary accounting income (FAI) interact. Distributions can be made using ascertainable standards (health, education, maintenance, and support (HEMS) or no standard and all (welfare or best interests). We will spend more time on when capital gains are included in DNI and when items that are not FAI are included in DNI.
Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also drafted organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies.
Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while reducing the drag that taxes imposed on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.
Steve Gorin is the former president and an ongoing contributor to Covenant Place’s strategic initiatives. It is a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives.
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For various free resources Steve offers, see https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about