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Practical Guide to IRAs – Contributions & Distributions for Traditional, Roth, SEP & SIMPLE IRAs

  • AFSP
  • CPA (US)
  • CVA
  • EA
  • Tax Preparer
  • CPA/PFS
  • TEP
  • CRTP
  • ChFC®
  • CSA
  • FSCP®
  • CASL
  • ChSNC
  • RICP
  • WMCP

Published: July, 2021

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

  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • Individual Retirement Account (IRA) Background
    28 mins
  • Roth IRA Contribution MAGI Phase-out Ranges
    74 mins
  • Five Taxable Year Period (§ 408A(d)(2)(8))
    105 mins
  • Participation requirements (§ 408(k)(2))
    152 mins
  • Distribution from Roth IRAs
    215 mins
  • Amount distributed may be repaid
    265 mins
  • RMDs During Employee's lifetime (When Taxpayer Turns Age 72)
    327 mins
  • RMD Using the Join Life & Last Survivor Expectancy - Example
    345 mins
  • Update QCD's after 2019
    384 mins
  • Distributions from HSAs
    397 mins

Course Description

Opening, funding, distributions, taxation rollovers, and beneficiaries are all important facets of dealing with the regular and Roth IRA including employer IRAs. The tax rules associated with the IRA can be incredibly complex particularly in the area of distributions and beneficiaries. We will work through these complexities as well as the issues to help you assist your clients in dealing with the critical decisions necessary to take full advantage of the powerful tax and distribution opportunities that congress has imparted on the IRA.

This comprehensive online CPE/CE course is designed to get the accountant up to speed quickly with the different types of individual retirement accounts (IRAs). The cornerstone of the course is in-depth coverage of the contribution and distribution rules to the Traditional, Roth, Simplified Employee Pension (SEP), and Savings Incentive Match Plan for Employees (SIMPLE) IRAs. The online continuing education course will also discuss the basics of the health savings account (HSA) as well as any newly enacted tax legislation related to IRAs.

We will use all real-life examples & case studies to gain practical understanding.

This online CPE webinar covers the following key topics:

  • An emphasis on newly enacted tax legislation affecting IRAs including those made by the SECURE & CURES Act
  • Contribution limits to and tax treatment of distributions from Traditional, Roth, SEP, and SIMPLE IRAs
  • Deductible phase-out limits for Traditional IRA contributions for taxpayers that are active participants in qualified retirement plans
  • Roth IRA contribution phase-out limits as well as tax-free qualified distributions
  • Planning opportunities for conversions to ROTH IRAs
  • Rollover rules to/from different retirement accounts and the one-rollover-per-year limitation
  • The different options of receiving IRA distributions before age 59 ½ and avoiding the 10% early distribution penalty (including substantially equal periodic payments)
  • The required minimum distribution (RMD) rules from IRAs needed to avoid the 50% penalty after the account owner turns age 72 or dies
  • The tax ramifications of spouse and non-spouse beneficiaries and how this affects the RMD calculation after the account owner’s death
  • Overview of health savings account (HSA) eligibility rules, contribution limits and distribution rules

J. Patrick Garverick is one of the most admired and best-reviewed Tax Speaker in the country and we are offering the classes at a much-discounted price during the pandemic. His courses have been best-reviewed time and again 

  • For Quality of Content
  • For Relevance and Practical Case studies
  • For Best Teaching Approach
  • For Best Course Material

Awards and Accolades

  • Award for Instructor Excellence for California Education Foundation
  • Award for Outstanding Course materials for California Education Foundation.
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 

During this webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected..

Click for more webinars on Trust, Estate, and Financial Planning | Latest Tax Updates

Learning Objectives

  • To recognize the tax and non-tax advantages and disadvantages of the various IRAs (i.e. Traditional, Roth, SEP, ​ SIMPLE and HSAs)
  • To learn how to calculate the maximum contributions to and taxable distributions from the various IRAs
  • To recall the exceptions to the 10% early withdrawal penalty from IRAs
  • To explain the rules and compute the required minimum distribution (RMD) from the IRAs during an account owner’s life (i.e. turns age 70 ½) and after their death
  • To identify the foundational tax concepts of retirement distribution planning.

Recommended For

This Online CPE/CE Tax webinar is IRS approved and is recommended for CPAs, EAs, CVAs, TEPs, ERPAs, CSAs, PFS, and Other Tax Professionals who wants to help their clients better manage their IRAs

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 CE Credit for Wealth Management Certified Professional (WMCP)
  • 8 CPD Credit for Trust and Estate Practitioners (TEP)
  • 8 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-T-00077-19-S)
  • 8 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-T-00077-19-S)
  • 8 CE Credit for Retirement Income Certified Professional (RICP)
  • 8 CPD Credit of Fundamental Financial Planning Concepts for Personal Financial Specialist (PFS)
  • 8 CPD Credit of Fundamental Financial Planning Concepts for Personal Financial Specialist (PFS)
  • 8 CE Credit for Financial Services Certified Professional (FSCP®)
  • 8 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00077-19-S)
  • 8 CE Credit for Chartered Special Needs Consultant (ChSNC)
  • 8 CE Credit for Chartered Financial Consultant (ChFC®)
  • 8 CE Credit for Chartered Advisor in Senior Living (CASL)
  • 8 CPE Credit for Certified Valuation Analyst (CVA)
  • 8 CE Credit for Certified Senior Advisor (CSA)
  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0053)
  • 8 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0053)
  • 8 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 8 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 8 CE Credit of Taxes for Annual Filing Season Program (AFSP)

Presenter

About Presenter

J. Patrick Garverick, CFP (CA), CPA (US)

Accounting Manager The Garvs, LLC

Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.

In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.

During his time in college, Pat earned a letter as a member of the Ohio State Basketball squad. He remains a staunch supporter of the sports programs at his alma mater.

Awards & accolades

  • Multi-time winner of the California Education Foundation’s 1) Award for Instructor Excellence and 2) Award for Outstanding Course materials
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 

About Company

The Garvs, LLC

thetaxu.com/

Since 1993 award winning author and instructor J. Patrick “Pat” Garverick, CPA, MT, CFP® has been providing tax and financial training educational courses to business professionals through out the country.  Pat is recognized as one, if not THE best tax instructor in the country.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

4.1

22 Ratings

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