Webcast: IRAs - Contributions and Distributions for Traditional, Roth, SEPand SIMPLE IRAs
343 | Webcast | Intermediate | Scheduled
Description
This comprehensive training 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 an 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 course will also discuss the basics of the health savings account (HSA) as well as any newly enacted tax legislation related to IRAs.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 8.00 | Taxes |
| 6.75 | CLE |
Designed For
Professionals that advise clients on all aspects of IRAs and want to maximize retirement plan contributions, minimize the taxes on distributions and learn the ins and outs of distributions from these accounts.
Prerequisites
Background in individual and business income tax law
Highlights
Each attendee will receive the most comprehensive IRA reference manual with numerous practice aids, examples and required minimum distribution tables. Topics include but are not limited to:
- An emphasis on newly enacted tax legislation affecting IRAs including the NEW final required minimum distribution (RMD) regulations
- 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 « and avoiding the 10 percent early distribution penalty (including substantially equal periodic payments)
- The required minimum distribution (RMD) rules from IRAs needed to avoid the 50 percent penalty after the account owner turns age 73 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
Objectives
Once participants have completed this session, they should be able to:
- Compare and contrast the tax and non-tax advantages and disadvantages of the various IRAs (i.e. Traditional, Roth, SEP, SIMPLE and HSAs)
- Calculate the maximum contributions to and taxable distributions from the various IRAs
- List the exceptions to the 10% early withdrawal penalty from IRAs
- Explain the rules and compute the required minimum distribution (RMD) from the IRAs during an account owner's life (i.e., turns age 72 «) and after their death
Prices
- Member (Early Bird)
- $269.00
- Non-Member (Early Bird)
- $369.00
- Member
- $269.00
- Non-Member
- $369.00
Instructors
J. Patrick Garverick, CPA, MT, CFP
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 stanch supporter of the sports programs at his alma mater.
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