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IRAs – Contributions & Distributions for Traditional, Roth, SEP & SIMPLE IRAs

Total Credits: 8 including 8 Taxes - Technical

Average Rating:
ACPEN Industry Institute |  Tax |  ACPEN Tax Institute |  IRS Approved
J. Patrick Garverick, CPA, MT, CFP®
Course Levels:
8 Hours

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


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.

**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

Basic Course Information

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

Major Subjects
  • 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 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

Course Materials


J. Patrick Garverick, CPA, MT, CFP®'s Profile

J. Patrick Garverick, CPA, MT, CFP® Related Seminars and Products

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.



Wed, Jul 17, 2024 - 09:00am to 04:37pm CDT
Tue, Jul 30, 2024 - 09:00am to 04:37pm CDT
Thu, Aug 08, 2024 - 09:00am to 04:37pm CDT
Sun, Aug 25, 2024 - 09:00am to 04:37pm CDT
Fri, Sep 06, 2024 - 09:00am to 04:37pm CDT
Wed, Sep 25, 2024 - 09:00am to 04:37pm CDT
Mon, Oct 07, 2024 - 09:00am to 04:37pm CDT
Tue, Oct 22, 2024 - 09:00am to 04:37pm CDT
Mon, Nov 04, 2024 - 09:00am to 04:37pm CST
Tue, Nov 19, 2024 - 09:00am to 04:37pm CST
Mon, Dec 09, 2024 - 09:00am to 04:37pm CST
Mon, Dec 30, 2024 - 09:00am to 04:37pm CST
Fri, Jan 10, 2025 - 09:00am to 04:37pm CST
Thu, Feb 20, 2025 - 09:00am to 04:37pm CST
Wed, Dec 03, 2025 - 09:00am to 04:37pm CST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation Background in individual and business income tax law
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 08/2023
Course Developer The Tax U
Date Added to Catalog 08/26/2023
Yellow Book No

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints., (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:

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 if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 



Overall:      4.7

Total Reviews: 15


Richard G

"The presenter was very knowledgeable and his presentation was extremely informative. "

Carol M

"Great class. The class manual will be invaluable! Thank you, Pat"

Michael R - Downingtown, Pennsylvania

"Excellent presentation and professionally handled."