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Calif. Fiduciary Income Tax for Residents, Non-Residents & Departing Residents

Taxes

CALIF. FIDUCIARY INCOME TAX FOR RESIDENTS, NON-RESIDENTS & DEPARTING RESIDENTS

Watch Archived Video

Cost $15.00

Presentation Length 1.0 hour

Recorded DateSeptember 21, 2020

CPE:Not available

(archived webinars do not offer CPE credits)

Subject AreaTaxes

Course LevelBasic

Who Should AttendCPA - small firm
CPA - medium firm
CPA - large firm
Other

Series: Taxes

Course Description

California has one of the highest, if not the highest, state income rates on trusts. In this one-hour program, Peter Myers will discuss issues of California state income taxation of resident and non-resident trusts and estates. What is "source income"? When is a trust taxed on non-source income? What does the residence of the trustee and beneficiary have to do with the income taxation of these trusts?

Learning Objectives:

Recall how to analyze a trust to determine whether California income tax is applicable at all

Identify what to look for in determining whether none, some, or all of the income of the trust is taxable in California

Identify how to evaluate whether a beneficiary is a California resident and whether they are considered "contingent" or "noncontingent" and what that means under California law

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE

Peter Myers

Fox Rothschild LLP
Partner
[email protected]
(415) 364-5540

Peter Myers is certified as a specialist in estate planning, trust, and probate law by the State Bar of California's Board of Legal Specialization. Handling high-net-worth planning, business succession, and trusts and estates disputes, he guides individuals and families who need a reliable relationship with a caring, experienced lawyer who will assist them in times of greatest personal opportunity, life event, or crisis.

Peter has written multiple books and articles in estate planning, tax planning, and business succession. He teaches in the areas of estate planning, family business entities, and estate planning. His published treatises, books, and articles have appeared in WealthCounsel Quarterly, CEB, Trusts and Estates Magazine, iUniverse, and Wonderdads. He speaks throughout the country on topics of interest to wealthy families and their advisers and at conventions of professionals. His speaking engagements include WealthCounsel, LLC, The Southern California Institute, California Continuing Education of the Bar, the National Network of Estate Planning Attorneys, and various ancillary CLE Providers. His published work appears in CEB, Trusts and Estates Magazine, iUniverse, and Wonderdads.

About Our Presenter

Fox Rothschild LLP is a national law firm with more than 950 attorneys in 27 locations across the United States serving businesses of all sizes as well as individuals. Clients come to Fox because our attorneys understand their issues, their priorities, and the way they think. At Fox, our attorneys care about your success as much as you do.