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See the Video Recording here: https://us02web.zoom.us/rec/play/hYSHLxPryPGg6kjWqWjk5jUS-xKq1CI0TFti5py1CXMf1YMePsNk_KDRxaKTN69UMoK3vuHYzPbcvTX8.b3uwFio5kfaQiHSc?autoplay=true&startTime=1679415653000

Access the Live Transcript here: https://otter.ai/u/iEjRANHQWifGXMABSOqLV6Yy59c?utm_source=copy_url

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Chart of Accounts: https://www.abundancegroup.com/coa

Outline:
-Accounting and bookkeeping for personal trusts.
0:02
-Make sure your bookkeeping is ready for taxes.
2:25
-No quarterly reporting to IRS.
7:29
-How does real estate go to the books?
12:16
-Booking cash against the demand note.
19:17
-Calculate the retained earnings.
24:56
-What are liabilities?
29:54
-How to assign credit cards to the trust.
36:40
-How to calculate the demand note interest.
41:02
-How would we track promissory notes?
47:18
-What happens if you don’t track the interest on demand notes?
55:29
-What’s equity all about?
1:02:46
-What Dr. Gina eliminated in the trust.
1:10:10
-What do you need to know about income?
1:16:20
-Do you need to know about expenses?
1:21:25
-Is depreciation an expense or an improvement?
1:23:20
-When you pay for the improvement.
1:26:27
-Misc expense for maintenance and support of minors.
1:30:55
-A run-through of the Chart of Accounts.
1:35:20