Required Minimum Distributions and IRAs

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Basics - Required beginning date (RBD)

1 mins
IRA v. Defined contribution plan rules, RMDs

12 mins
The five year rule - IRAs and qualified retirement plans

29 mins
Qualified charitable distributions

64 mins
Roth qualified distributions chart

71 mins

Course Description

To encourage saving for retirement, the Government has created several different types of retirement accounts that enable individuals to deposit money before it is taxed. Income taxes are not paid until the money is withdrawn. These IRS-mandated withdrawals, known as required minimum distributions, or RMDs, are taxed.

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 CE/CPE webinar on taxes will cover the basics of RMDs in IRA accounts, changes made by the SECURE Act, and the unique transition to the new life expectancy tables.

In addition, the determination of the appropriate life expectancy table will be addressed based on the relationship of the named beneficiary to the account holder. Topics will also include Roth IRAs, taxation of IRAs, and the age extension of the availability of IRA contributions after age 70½. Examples will also be included for varied RMD rules and legislative changes.

Learning Objectives

To analyze the varied rules that guide the determination of RMDs in different circumstances based on when an RMD began.
To analyze the account owner’s relationship with the beneficiary.
To inspect how the account owner’s relationship with the beneficiary impacts the RMD both during the life of the account owner and the death of the account owner.
To determine qualified birth or adoption distributions
To discuss other regulatory guidelines

Recommended For

This Online CPE/CE Tax webinar is IRS approved and is recommended for CPA, AFSP, CFP, CVA, EA, Tax Preparer, CPA/PFS, TEP, ChFC®, CSA, FSCP®, ChSNC, RICP, WMCP, and Other Tax Professionals who want to help their clients better manage their IRAs.

Who Should Attend?

Annual Filing Season Program
Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Accountant (Industry)
Tax Attorney
Tax Firm
Tax Professionals
Young CPA

Course Qualification

Webinar Qualifies For

2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0831)
2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00893-22-S)
2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00893-22-S)
2 CPD Credit of Retirement and Financial Independence Planning for Personal Financial Specialist (PFS)
2 CPE Credit for Chartered Financial Consultant (ChFC)
2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00893-22-S)
2 CPD Credit for Trust and Estate Practitioners (TEP)
2 CE Credit for Certified Senior Advisor (CSA)
2 CPE Credit for Financial Services Certified Professional (FSCP)
2 CPE Credit for Chartered Special Needs Consultant (ChSNC)
2 CPE Credit for Retirement Income Certified Professional (RICP)
2 CPE Credit for Wealth Management Certified Professional (WMCP)
2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
2 PL Credit for Chartered Financial Analyst (CFA)
2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
2 CE Credit for Certified Wealth Strategist (CWS)
2 General Credit for Accountant/Bookeeper
2 CE Credit for Certified Plan Fiduciary Advisor (CPFA)
2 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01017-22-S)

Additional details

Course Level :

Basic
Credits :

2
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

Steve Abramson, CPC, CLU, ChFC

President, APS Pension and Financial

Stephen Abramson is the President and founding partner of APS Pension & Financial Services established in 1977, a mid-size consulting and actuarial firm employing twenty-two professional and support staff specializing in pension and pension-related services. For over 40 years, APS has been providing closely held businesses with financial services including pension design and administration, business succession planning, and wealth preservation planning. In 2015 APS Investment Management was established to provide fiduciary services to 401(k) and 403(b) plans and in 2018 APS Wealth Management, a Registered Investment Advisor (RIA), was established to provide investment management services to individual clients and retirement plans replacing his previous relationship with a Broker/Dealer. Steve has taught professional level education programs for the American Society of Pension Actuaries; lectured to various professional groups, including the National Conference of CPA Practitioners, The NYS Society of CPAs, Nassau Bar Association, the C.W. Post Tax Institute, and the National Institute of Pension Administrators; and conducted continuing education seminars for Certified Public Accountants for the past 35 years. He is co-author of Plan Smart, Retire Rich published by McGraw Hill in 1998; author of Advisor’s Guide to Qualified Plans originally published by Aspen Publishing in March, 2002 and recently in the process of being updated with the 8th edition, and Retirement Financial Management for Clients Approaching Retirement published by Aspen Publishing in August, 2002. A less technical version of Advisor’s Guide to Qualified Plans entitled Guide to Qualified Retirement Plans: A Plain Language Primer was published by the International Association of Employee Benefits in March 2005. The second edition of this book was released in 2008.

Steve graduated from Cornell University in 1964, earned the designation of Chartered Life Underwriter in 1967 from the American College, Certified Pension Consultant in 1970 from the American Society of Pension Professionals and Actuaries and Chartered Financial Consultant from the American College in 1972.

About Company

APS Pension and Financial

www.apspension.com

APS Pension & Financial Services Inc. (APS) is pleased to present our proposal to perform the annual administration for the Inck Consulting, Inc. Defined Benefit Plan and the Inck Consulting, Inc. Incentive Savings Plan.

APS was founded in 1977 exclusively as a Third Party Administrator (TPA). Today, APS Pension & Financial Services is a financial services consulting firm specializing in Retirement Plan Design, ERISA Fiduciary Services and Wealth Management. We are a certified Center for Fiduciary Excellence (CEFEX®) firm and adhere to the global fiduciary standards of the American Society of Pension Professionals & Actuaries (ASPPA) and CEFEX. Our staff all have long tenure with the firm and extensive knowledge in the retirement plan space. After 40+ years of working with businesses and individuals, we have likely seen most, if not all, issues as well as the solutions and strategies to improve outcomes.

APS is a full service actuarial and benefit consulting firm for hundreds of defined benefit and defined contribution plans. With a staff of 17 employees, APS offers a wide range of services including plan design and installation, plan administration, participation in IRS audits, and plan terminations.

Faq

FAQs content

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