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.
Basic Course Information
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 70½) and after their death
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 those made by the Tax Cuts & Jobs Act (TCJA)
An emphasis on newly enacted tax legislation affecting IRAs
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 70 ½ 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
Important CPE Credit Information_READ BEFORE WEBCAST UPDATED
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.
Basic Course Information
None Advanced Preparation
None 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. Original Recording Date
06/18/2019 Yellow Book
No Course Developer
MICPA Date Added to Catalog
Complaint Resolution Policy
Please contact Anne Taylor for any complaints. email@example.com, (972-377-8199). Official Registry Statement
Business Professionals' Network, Inc. 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 Instructional Delivery Method
Group Internet Based Course Registration Requirements
Online Registration Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or firstname.lastname@example.org if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
General Purchase Alert
*Unless your firm has made specific arrangements, in advance, with ACPEN, this webcast is provided for individual viewing only. The viewing of this course by groups not registered with ACPEN is prohibited and in violation of the license granted by Business Professionals Network, Inc. and ACPEN. The issuance of CPE credit completion certificates for this event by any entity other than BPN or an authorized state CPA society is fraudulent. BPN reserves the right to pursue all criminal and civil legal remedies against unauthorized in-firm groups through law enforcement and state boards of accountancy to enforce its rights and those of affiliated state societies.
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***Downloadable written materials included. Course materials may be lengthy and, in some cases, may be purchased for an additional fee, plus shipping and handling, as part of the purchase process.