Trust Accounting – Interview Preparation

Trust Accounting & Trust Taxation | Interview Prep from Origin Staffing:

 

O | Interview Prep Videos:

Overview of Trusts | Differences between Accounting Income for a Trust vs. Taxable Income for a Trust:

 

Setting up Trust Accounting in QuickBooks | How to set up Chart of Accounts, Recording a Trust Payment, Deposits, Payments, Trust Account Statements:

 

Tax Implications for Revocable (R Trust) and Irrevocable Trusts (aka: Credit Trust, AB Trust, Credit Shelter):

O | Interview Preparation Articles & Other Resources:

  1. Massachusetts Trust Income Taxation – recent ruling 
  2. DNI – Distributable Net Income for a Trust
  3. Updates from Mass Department of Revenue regarding changes in Tax Treatment for certain Trusts & Estates.
  4. States where you can avoid income taxes on trusts (includes Massachusetts)