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

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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 IRS-Approved online CPE webinar on Taxes 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 CPD Credit for Trust and Estate Practitioners (TEP)
8 CPD Credit for Personal Financial Specialist (PFS)
8 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00077-19-S)
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 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0053)
8 CE Credit for Annual Filing Season Program (AFSP)
8 CE Credit of Retirement Savings and Income Planning for Certified Financial Planner (US) (Approval No. 299095)
8 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00077-19-S)
8 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00077-19-S)
8 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
8 CE Credit for Certified Wealth Strategist (CWS)
8 General Credit for Accountant/Bookeeper
8 CE Credit for Certified Plan Fiduciary Advisor (CPFA)
8 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-00529-21-S)

Additional details

Course Level :

Basic
Credits :

8
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

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 maintenance 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.

NASBA APPROVED

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

MY-CPE LLC (Sponsor Id#: 143597) 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.org.

CTEC APPROVED

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

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

J. Patrick Garverick, 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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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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