CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

IRA Season Essentials: Critical Tax Planning Opportunities for IRAs - Part 1

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

The primary means of funding an IRA is by making regular contributions. And, while making a contribution seems like a simple enough process mistakes are often made that result in excess contributions, making contributions to the wrong type of IRA (traditional instead of Roth and vice versa) and failing to timely correct ineligible contributions.

In this program, national IRA expert Denise Appleby will take you through the rules for making contributions to Traditional IRAs and Roth IRAs; including when and how to claim deductions for traditional IRA contributions, how to switch from a traditional IRA contribution to a Roth IRA contribution, how to correct an excess IRA/Roth IRA contribution and avoid the 6% annual excise tax, and the tax reporting requirements for IRA contributions.

Part 1: IRA Contributions: Eligibility, Deductibility, and Backdoor Roth IRA Contributions
Part 2: Recharacterizations, Excess Contribution Corrections, and Tax Reporting of IRA Contributions

Learning Objectives

Upon completing this course, participants will be able to:

  • Determine clients’ eligibility to make contributions to traditional IRAs and Roth IRAs;
  • Make a distinction between eligibility and deductibility for IRA contributions;
  • Perform backdoor Roth IRA contributions;
  • Help clients correct excess contributions made to Roth IRAs and traditional IRAs;
  • Recharacterize contributions made to traditional IRAs and Roth IRAs;
  • Help affected clients avoid the 6% excise tax that can apply to ineligible contributions; and
  • Determine the responsible parties for the various tax reporting requirements for IRA contributions.

Course Specifics

Course ID
WC1822307165
Revision Date
November 8, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02263-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1841
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Denise Appleby
Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA

Denise Appleby is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA technical consultation, training and resources for financial, tax and legal professionals. Her primary focus is protecting retirement savings from costly mistakes. She has over 20 years of experience in the retirement plans field. Denise writes and publishes booklets and marketing tools for advisors. She has provided training to thousands of advisors about the rules and regulations, as well as compliance and operational requirements that apply to IRAs and retirement plans for small businesses. Denise co-authors books that include The Roth IRA Answer Book, The SEP, SIMPLE, …

Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA Read More »

IRA Season Essentials: Critical Tax Planning Opportunities for IRAs - Part 1

CPE CREDITS
1 Credits: Taxes

$49.00


Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

The primary means of funding an IRA is by making regular contributions. And, while making a contribution seems like a simple enough process mistakes are often made that result in excess contributions, making contributions to the wrong type of IRA (traditional instead of Roth and vice versa) and failing to timely correct ineligible contributions.

In this program, national IRA expert Denise Appleby will take you through the rules for making contributions to Traditional IRAs and Roth IRAs; including when and how to claim deductions for traditional IRA contributions, how to switch from a traditional IRA contribution to a Roth IRA contribution, how to correct an excess IRA/Roth IRA contribution and avoid the 6% annual excise tax, and the tax reporting requirements for IRA contributions.

Part 1: IRA Contributions: Eligibility, Deductibility, and Backdoor Roth IRA Contributions
Part 2: Recharacterizations, Excess Contribution Corrections, and Tax Reporting of IRA Contributions

Learning Objectives

Upon completing this course, participants will be able to:

  • Determine clients’ eligibility to make contributions to traditional IRAs and Roth IRAs;
  • Make a distinction between eligibility and deductibility for IRA contributions;
  • Perform backdoor Roth IRA contributions;
  • Help clients correct excess contributions made to Roth IRAs and traditional IRAs;
  • Recharacterize contributions made to traditional IRAs and Roth IRAs;
  • Help affected clients avoid the 6% excise tax that can apply to ineligible contributions; and
  • Determine the responsible parties for the various tax reporting requirements for IRA contributions.

Course Specifics

Course ID
WC1822307165
Revision Date
November 8, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02263-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1841
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Denise Appleby
Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA

Denise Appleby is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA technical consultation, training and resources for financial, tax and legal professionals. Her primary focus is protecting retirement savings from costly mistakes. She has over 20 years of experience in the retirement plans field. Denise writes and publishes booklets and marketing tools for advisors. She has provided training to thousands of advisors about the rules and regulations, as well as compliance and operational requirements that apply to IRAs and retirement plans for small businesses. Denise co-authors books that include The Roth IRA Answer Book, The SEP, SIMPLE, …

Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA Read More »

IRA Season Essentials: Critical Tax Planning Opportunities for IRAs - Part 1

CPE CREDITS
1 Credits: Taxes

Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.

$49.00