Overview
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Basics - Required beginning date (RBD)
1 mins
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IRA v. Defined contribution plan rules, RMDs
12 mins
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The five year rule - IRAs and qualified retirement plans
29 mins
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Qualified charitable distributions
64 mins
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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 Income taxes are not paid until the money is withdrawn.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