IRAs and Roth IRAs: Cradle to Grave How to Sock It Away and Make It Count* (Currently Unavailable)

Author: Bradley Burnett

CPE Credit:  8 hours for CPAs
8 hours Federal Tax Law Updates for EAs and OTRPs
8 hours Federal Tax Updates for CTEC

What Does Tax Reform Mean for Retirement Planning with IRAs of all Stripes?
This eight-hour CPE webinar led by experienced instructor and practitioner Bradley Burnett, J.D., LLM. is for anyone desiring to brush up on and deepen their knowledge of IRAs and Roth IRAs. Tightening down the hatches and intelligently using tax breaks to help leverage one's future is critical to being able to retire and retire well. This course locks down on building a future to count on via a thorough exploration of all tax and asset protection aspects individual retirement accounts and related arrangements. This course also will reflect the impact of the Tax Cuts and Jobs Act of 2017 and increases in the maximum contributions.

What About Self-Directed IRAs?
Additionally, the webinar will dedicate a portion of the day to self-directed IRAs. Self-directed IRAs and other retirement arrangements are becoming more and more the rage and for good reason. Fortunes are to be made and kept. Or lost. Examples of how to be or not to be (answering Shakespeare’s question) are piling up. Are self-directed IRAs worth the risk? Oh yes, if approached properly. But, how to not detonate the explosives?

This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.

Publication Date: February 2019

Designed For
All CPAs, EAs, tax professionals, financial planners, and those who are charged with development retirement plans for clients.

Topics Covered

  • IRAs and Roth IRAs set up, operation, contributions, withdrawals and estate planning
  • Deductible, nondeductible, spousal, conduit, traditional and Roth IRAs
  • Qualification requirements, investment restrictions and prohibited transactions
  • Income tax reporting and disclosure rules and income tax withholding requirements
  • Early distribution penalties and how to avoid them
  • Conversion from traditional to Roth IRA, recharacterization and reconversion
  • Self directed IRAs dos, don'ts, upside and treachery
  • Forced distributions at retirement and after death
  • Estate planning: avoiding IRD problems, funding marital bequests, special Roth features, charitable giving and estate liquidity planning
  • Self Directed IRAs opportunities and steering clear of trouble
  • Fabulous college planning/wealth building in children via IRAs and stretch IRAs

Learning Objectives

  • Identify IRA and individual retirement plan income and estate tax planning maneuvers
  • Differentiate investigate asset protection features of retirement savings vehicles
  • Recognize and apply foundation requirements, operational boundaries, opportunities and pitfalls of IRAs, Roth IRAs, SIMPLE plans, and SEP plans from the individual retirement perspective
  • Explain how self-directed IRAs can be used in retirement planning
  • Describe advantages specific to a Roth IRA
  • Differentiate types of IRA's
  • Identify qualification requirements for an IRA
  • Identify the maximum contribution to an IRA allowed for an individual older than 50 in 2018
  • Describe taxable compensation
  • Recognize correct statements regarding the contribution cap
  • Recognize how a surviving spouse may treat an inherited IRA as her own
  • Identify the 2018 active participant phase out range for Traditional IRA contributions for married individuals filing jointly
  • Differentiate types of retirement plans
  • Describe a collectible for purposes of an IRA
  • Recognize allowable transaction that would avoid putting an individual's IRA benefits at risk
  • Describe a distribution of assets from an IRA followed by the contribution of some or all of those assets into another IRA
  • Identify situations surrounding a distribution from an IRA, in isolation, will result in a penalty being assessed
  • Describe an IRA which was invested in the stock market in recent years, but losses and investment fees have significantly reduced its value
  • Identify characteristics of a Roth 401(k)
  • Identify the 2018 top tax rate for trusts
  • Recognize how to plan for qualified charitable distributions
  • Identify how many IRA rollovers per year is allowed
  • Identify an example of a self-directed account type
  • Identify a consequence of prohibited transactions
  • Identify the first step in creating a ROBS transaction once the new Corporation has been created
  • Recognize the three IRA vehicles
  • Describe how many days to revoke an IRA and demand a refund of the full initial contribution as a new IRA owner
  • Identify the maximum contribution limits
  • Recognize what is excluded from taxable compensation
  • Describe the key focus in determining active participant status under a defined contribution plan
  • Identify the privilege available for an IRA to which an excess contribution is made
  • Recognize which type of income is included for purposes of UBTI determination
  • Describe early distribution penalties
  • Recognize which type of recharacterization is now prohibited for years beginning after 2017
  • Identify the 2018 catch-up contribution to a Roth IRA
  • Identify the AGI limit for conversion from a Traditional IRA to a Roth IRA for married taxpayers filing jointly
  • Identify estate planning advantages of a Roth IRA
  • Recognize another term for an educational self-directed type IRA
  • Identify the first step in creating a ROBS transaction

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Basic understanding of federal income taxation concepts and tax-advantaged retirement savings plans.

Advance Preparation
None

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