IRAs and Roth IRAs: Cradle to Grave (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 |
This eight-hour course 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, Roth IRAs, SEPS, and SIMPLE Plans. 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 is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: May 2020
Designed For
All CPAs, EAs, tax professionals, financial planners, and those who are charged with development retirement plans for clients.
Topics Covered
- 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
- Rollovers, trustee-to-trustee transfers to/from IRAs
- 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 income and estate tax planning maneuvers
- Differentiate and 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
- Describe the SECURE Act
- Identify what happens if a prohibited transaction occurs within an IRA
- Describe prohibited transactions
- Recognize an event that triggers the filing of Form 5329
- Describe a Roth 401(k)
- Identify income in respect of a decedent
- Recognize how a qualified charitable distribution from an IRA is treated
- Identify true statements regarding IRA rollovers
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
