We are all (including tax practitioners) getting older, and the need for effective retirement planning has never been greater. This course is essential for participants who wish to attain a comfortable retirement for themselves and their clients by maximizing tax saving strategies. Designed to improve the quality of ser-vices to clients and the profitability of engagements, this presentation integrates federal taxation with retirement planning. The emphasis is on practical simplicity in dealing with the self-employed and highly compensated individual. Distribution options from IRAs and other retirement plans are explored.
- Determine the differences between qualified and non-qualified deferred compensation plans identifying the tax advantages and disadvantages of each, that is fine the requirements of a qualified pension plan and recognize how the basic ERISA provisions define the elements of qualified plans
- Identify the types of defined contribution and defined benefit plans and their effect on retirement benefits.
- Recognize the elements of Roth IRAs and traditional IRAs by specifying how distributions work, how to set up the various IRAs, utilize tax-free rollovers, designate beneficiaries, and make distributions to beneficiaries, cite contribution limits for various IRAs, and determine how to re-characterize Roth IRA contributions.
- Identify SIMPLE IRA plans and IRA Rollovers.
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