MasterCPE Blog
Resources for CPAs - Online Continuing Professional Education
Stay current with everything happening in the finance and accounting world! MasterCPE has you covered with all the news and updates that CPAs, and other finance professionals, need to stay ahead.
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Form 1041: The Income Tax Return That Runs Alongside the Estate
Keep reading: Form 1041: The Income Tax Return That Runs Alongside the EstateFiling Form 706 closes the estate tax question. Form 1041 — the estate and trust income tax return — is a different question entirely, and one that often runs on a longer timeline. Estates and trusts are separate taxable entities. Income they generate during administration, whether from a brokerage account, a rental property, a business…
Estimated reading time: 1 minute
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HSA in Retirement: Distributions, Medicare, and What Qualifies
Keep reading: HSA in Retirement: Distributions, Medicare, and What QualifiesUnderstanding HSA retirement distribution rules is where the real planning work begins. Years of contributions and investment growth have built the balance — now the question shifts from how to fund the HSA to how to use it well. The HSA in retirement operates under a different set of rules than during the working years.…
Estimated reading time: 1 minute
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Form 706 and the Portability Decision: What Executors Get Wrong
Keep reading: Form 706 and the Portability Decision: What Executors Get WrongThe estate isn’t taxable. No Form 706 required. That’s the conclusion many executors reach, and in a significant number of cases it costs the surviving spouse millions. The One Big Beautiful Bill Act (Public Law 119-21), signed July 4, 2025, raised the federal basic exclusion amount to $15,000,000 per individual for 2026, up from $13,990,000 in 2025. At that threshold, the vast majority…
Estimated reading time: 1 minute
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