IRAs: What You Need to Know about Contributions, Conversions and Distributions (Completed)

Date: Thursday, July 29, 2021
Instructor: Greg White
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC
2 hours General Principles of Financial Planning for CFP

This course covers the essentials of IRA’s. We’ll go well beyond the basics to cover crucial topics: when to convert traditional IRA’s to Roth IRA’s, how to minimize tax on conversion, and when clients should recharacterize IRA contributions (and how to recharacterize). We’ll also discuss how to get a waiver for clients who fail to take a required minimum distributions and other traps in the IRA area including prohibited transactions, excess contributions, and impermissible investments.

Topics Covered

  • Determine clients who are well suited for conversion from traditional to Roth IRA's
  • When should clients recharacterize IRA contributions?
  • What special traps are present in the IRA area?
  • How to receive a waiver for clients who failed to take the proper required minimum distributions

Learning Objectives

  • Identify clients who should convert traditional IRA's to Roth IRA's
  • Identify clients who should recharacterize IRA contributions and how to recharacterize
  • Recognize how to prepare waiver statements for clients who fail to take the required minimum distribution.

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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