As a fiduciary advising consumers, you need to know about trusts and estates subject to federal income tax. Compliance requires understanding concepts covered in this class, including:

• simple versus complex, grantor, and charitable trusts
• taxable income versus fiduciary accounting income
• distributable net income (DNI)
• IRC 663(b), aka "the 65-day rule"

Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA, is a partner at Keebler & Associates. Bob has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners and one of the Top 40 Tax Advisors to Know During a Recession. His three-decades as an educator of tax professionals makes him a once-in-a generation figure in the leadership of the accounting profession.