Provisions of the legislation dubbed the Secure Act recently passed as part of the congressional spending bill. The main points of the Secure Act affect retirement plans for small businesses and taxpayer’s payout requirements from their retirement plans. This on-demand course will provide you with a history of this legislation, a summary of its main provisions, and planning ideas for clients affected by the act.
Publication Date: January 2020
Designed For
Attorneys, CPAs, Enrolled Agents
Topics Covered
- Legislative history of the Secure Act
- Changes to Mandatory Distribution Age
- IRA Beneficiary Withdrawal Options
- 10 Year Withdrawal Planning Ideas for Employees & Practitioners
- Changes to Alleviate Annuity Investment Burdens
- Small Business Retirement Plan Credits
- Expanded Retirement Plan Eligibility PT Employees
- Miscellaneous Provisions
Learning Objectives
- Describe how the Secure Act passed congress and its primary provisions
- Recognize the potential tax impacts related to IRA withdrawals by participants and beneficiaries under the Secure Act
- Recognize how to recommend tax planning to clients affected by the Secure Act
- Identify the changes affecting small business retirement plans and part-time employees
- Recognize what happens if a charitable remainder trust (CRT) is named beneficiary of a retirement plan
- Describe how changes were made to alleviate annuity investment burdens
- Identify the maximum credit now offered under IRC 45E the Small Employer Pension Plan Start Up Costs
- Recognize miscellaneous provisions of the SECURE Act
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of estate planning.
Advance Preparation
None
Instructor
Klaralee R. Charlton
Klaralee Charlton is a Partner at 3i Law in Denver, Colorado. She practices fiduciary tax, estate administration, and business transactional law. As part of her practice, she guides clients through the process of administering a loved one’s estate including the collection, valuation, management and transfer of assets including financial accounts, real estate, and business interests with a focus on minimizing estate and income tax liability. Klaralee also works closely with trustees of ongoing trusts to ensure compliance and prepares clients’ fiduciary income tax returns annually.
Klaralee has written and lectured on topics including estate and gift tax, fiduciary income tax reporting and U.S. regulations governing the valuation of small family businesses. She is an active member of the Colorado Bar Association, Tax Section and Adjunct Profession at the University of Denver, Graduate Tax Program.
She earned her J.D. in 2011 from the University of Utah, S.J. Quinney College of Law, her LL.M. in Tax Law from the University of Denver in 2013, and her B.A. in political science in 2009 from Bryn Mawr College. She is admitted to practice in both Colorado and Montana.