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Do Roth Conversions Pay?

Do Roth Conversions Pay?

1 Credit

$10

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00656-21-S)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0622)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 PL credit for Chartered Financial Analyst (CFAs)

1 CPD credit (Verifiable) for Trust and Estate Practitioners (TEPs)

1 CPD credit (Verifiable) for CPA/PFS

1 CE credit of Retirement Savings and Income Planning for all CFPs (CFP Board Approved : 8061) (Approval No. 296174)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00656-21-S)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00656-21-S)

1 CE credit for Certified Senior Advisor (CSA)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

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Before starting this self study program, please go through the instructional document.

Overview

  • Two primary types of retirement accounts
    2 mins
  • Tax advantages of retirement accounts
    12 mins
  • MaxiFi's Consumption Smoothing
    21 mins
  • Lifetime discretionary spending
    31 mins
  • Annual discretionary spending
    39 mins

Course Description

This CE webinar will look at the dollar gain or loss from Roth Conversions. It will explain the arguments for and against conversions, explain the four tax issues -- federal income taxation, state income taxation, Social Security benefit taxation, and Medicare Part B IRRMA taxation -- that influence the gains/losses from Roth conversions. The illustrations in this CE course will consider households in different financial circumstances and the importance of incorporating all relevant factors, such as when the client will take Social Security.

Taxes, whether we admit it or not, drive a lot of our personal finance decisions. Avoiding or lowering them can influence where we choose to live, what kind of car we buy, where we send our children to school, whether we purchase a house and many other everyday decisions. Everyone tries to limit the amount of taxes they pay. Taxes play a large role when we invest for retirement, as well.

One potential way to minimize taxes is by investing in a Roth IRA. With a Roth IRA, you contribute after-tax dollars and withdraw any earnings tax-free in retirement. By contrast, although you generally get a tax deduction on your contributions to a traditional IRA—and the money grows tax-free—you have to pay taxes when you withdraw the money in retirement.

This CPE course will look at the dollar gain or loss from Roth Conversions. It will explain the arguments for and against conversions.

Major topics covered in this free online CE/CPE webinar:

  • Contributing to Roth VS NonRoth IRAs/401Ks
  • Gains from Roth Conversions
  • Impact of Taxes for security & IRRMA on Roth Conversions


All these points will be discussed in detail and its influence on the gains/losses from Roth conversions. The illustrations will also be discussed in this CE course in which we will consider households in different financial circumstances and the importance of incorporating all relevant factors, such as when the client will take Social Security.

Learning Objectives

  • To determine what is a Roth Conversion.
  • To determine how Roth can Conversions lower taxes.
  • To determine how does Social Security benefit taxation affect the Roth Conversion Decision.
  • To determine how does taking Medicare and the IRRMA high-income Medicare Part B Premium affect the Roth Conversion Decision.

Who Should Attend?

  • Accountant
  • Annual Filing Season Program
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Finance Pros
  • Financial Planner
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Tax Attorney
  • Tax Firm
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Trust & Estate Tax Professional
  • Young CPA

Testimonial

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