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ROTH IRAS ALL YOU NEED TO KNOW ABOUT, CONTRIBUTIONS, DISTRIBUTIONS & TAXATION

4.2 (5)

J. Patrick Garverick, CFP, CPA

THE GARVS LLC

Thursday, December 12, 2019 | 02:30 PM EDT

  • CPA
  • EA

2 Credits

$30

Subject Area

Taxes

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Course Description

Since becoming available in 1998 Roth IRAs are a popular retirement plan choice for Americans. This is primarily because of the opportunity for tax-free distributions; unlike traditional accounts, for which tax-deferred amounts would be taxable when distributed

But they may not be for everyone. The amount converted to a ROTH IRA from another retirement plan will be taxable in the year of the conversion, and the source of the funds to pay the tax need to be discussed. Roth IRAs may still be an attractive option for many of your clients. Understanding the tax consequences of a Roth IRA conversion is an important consideration. This webinar will also address the situation when your client wishes that they had NOT done a Roth conversion this year and what they can do to fix the situation. All of this and more will be discussed in this session covering the opportunities and pitfalls of Roth IRA conversions. This is a “must-attend” webinar so that you can advise your clients on their investment strategies. This training session is designed to comprehensively cover the rules to get the accountant up to speed quickly with the complex Roth IRA contribution, distribution & tax rules.

MAJOR TOPICS

  • Roth IRA contribution rules
  • Roth 401(k) contribution rules
  • Direct and Indirect Roth conversions
  • Direct and Indirect Roth rollovers from qualified plans
  • Recharacterizations
  • Income tax considerations for Roth conversions
  • Rules for determining the tax treatment

Learning Objectives

  • Calculate the maximum allowable contribution to a Roth IRA and income limitations
  • Identify the operational and compliance requirements that apply to Roth conversions
  • Understand the limitations that apply to re-characterizing Roth activity
  • List the ordering rules of Roth IRA distributions and determine if they are taxable
  • Understand the Roth conversion rules and tax ramifications
  • Understand the transfer or rollover rules that apply to Roth IRAs and Roth 401(k)s
  • This webinar will teach you the new opportunity and help you advise your clients on their investment strategy.
  • Understand what makes a distribution “qualified”
  • Discuss the required minimum distribution (RMD) rules applicable to a beneficiary after the account owner’s death

Who Should Attend?

  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Firm
  • Tax Practitioners
  • Tax Pros
  • Young CPA

Testimonial

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