Webinar

IRAs: Contributions and Distributions for Traditional, Roth, SEP & SIMPLE IRAs

If you have questions about this event, please call us at 952-831-2707.

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This case-driven training is designed to get the inexperienced accountant up to speed quickly in the most common areas of S-corporation taxation. The cornerstone of this course is the preparation of the Form 1120S using a fairly complex trial balance common to most S corporation income tax returns. Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Major subjects

• An emphasis on newly enacted tax legislation affecting IRAsincluding 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 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.

Learning objectives

• 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 ½) and after their death.

Who should take this program?

• 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.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $300.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.