myCPE

Restricted Property Trust: Learn with Case Studies 1 Credit 1 Credit

Aug 04, 2020, 09:00 AM ET

Restricted Property Trust: Learn with Case Studies 1 Credit 1 Credit

  • Rating

    4.7

  • Published on

    December, 1969

  • Subject Area

    Taxes

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Aug 04, 2020, 09:00 AM ET

Learning Objectives

  • To recall the type of entities work with the RPT
  • To recognize the facts and circumstances required to adopt the plan
  • To recognize the limitations of the plan’s contributions
  • To recall the pros and cons of establishing an RPT
  • To identify the long term end result of this planning tool

Course Overview

The Restricted Property Trust was created to help high-income earning business owners reduce income taxes and grow assets with sizable

  • pre-tax contributions,
  • tax-deferred accumulation, and
  • tax-advantaged distribution.

A Restricted Property Trust can only be established by an S-Corp, C-Corp, Limited Liability Company (LLC), or Limited Partnership. Sole proprietors cannot adopt a Restricted Property Trust, which includes LLCs taxed as a sole proprietorship. Contributions to a Restricted Property Trust are a 100-percent deductible contribution under Internal Revenue Code (IRC) 162 to the business.

Are business owners constantly looking to mitigate income taxes without the time-consuming and costly compliance of qualified plans?

Is there an employee benefit plan that can be set up exclusively for the owner(s) and key executives earning in excess of $600,000 per year?

This course will explore a unique, time and battle-tested strategy that does just that.

Unlike qualified plans, a Restricted Property Trust may be used exclusively to benefit owners. It is fully discriminatory.

The Restricted Property Trust is gaining momentum as the vehicle of choice for high-income business owners to protect their income and grow their assets. A key provision of the Restricted Property Trust is the employer is required to make the annual contribution in accordance with the pre-established funding period. In the event the employer is not able to make the contribution during the funding period, the policy is surrendered to the trust. Facts and circumstances of when a business owner client could use the RPT. You will also learn about the over 20-year history of the plan and how to account for it on the corporate and personal tax return. This webinar will cover all the latest updates and guidelines with practical case studies.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00194-20-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00194-20-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.com.

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

About Instructor

Ken Crabb

Ken Crabb

Vice President (VP), 1847Financial

  • 4.7
  • rating
  • rating
  • rating
  • rating
  • rating

Ken began his career in the financial services industry in 1993.

Mr. Crabb is Vice President of both Destiny Capital Corporation, a Registered Investment Adviser, and Destiny Capital Securities Corporation, a Broker/Dealer. Ken also serves on each company’s board of directors. He enhances the collegial organization with a wealth of skills and knowledge, including creative insurance-based solutions for complex business transactions and estate planning. He has expanded his business to include several midwestern states, while maintaining a client base in Colorado.

Since 2000 his exclusive focus has been tax-deductible life insurance strategies. After exploring the existing strategies in the marketplace, Ken partnered with a tax law firm in Cleveland to design a conservative and non-abusive plan, in direct contrast to what was being marketed and sold throughout the US. This partnership led to the creation of the Restricted Property Trust. In the fall of 2007, the IRS issued two notices and a revenue ruling broadly classifying cash value, tax-deductible life insurance strategies as potentially abusive tax shelters. It took two and a half years for the Restricted Property Trust to distinguish itself positively from the abusive plans in the marketplace. This occurred after the plan completed several audits and ultimately received an IRS workpaper in one of the audits stating the plan was not a listed transaction under IRS Notice 2007-83.

Ken has assisted law firms and CPAs on welfare benefit audits throughout the United States and is one of the foremost experts on corporate tax-deductible life insurance strategies in the nation. In order to leverage his time and expertise, Ken now serves as the “in-house” third-party-administrator for a few select financial services organizations in order to offer this strategy to clients across the country.

Ken has a BS in economics, General Securities Representative (Series 7), General Securities Principal (Series 24), Series 63 and numerous state life insurance licenses. Ken enjoys working out, tennis, and golf. He lives with his wife and three daughters in Charlotte, NC.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (74%)

Very Good (21%)

Average (3%)

Poor

Terrible (2%)

LM

Loren Medina, EA

5

excellent course. thank you!

CM

Chantee Marchell, EA

5

Great Presenter

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