Retirement Plans 2023 - 3.5 CPE
We are all (including tax practitioners) getting older, and the need for effective retirement planning has never been greater. This course is essential for partici-pants who wish to attain a comfortable retirement for themselves and their cli-ents by maximizing tax-saving strategies. Designed to improve the quality of services to clients and the profitability of engagements, this presentation inte-grates federal taxation with retirement planning.
Retirement Plans
Mini-Course Description & Study Guide
We are all (including tax practitioners) getting older, and the need for effective retirement planning has never been greater. This course is essential for partici-pants who wish to attain a comfortable retirement for themselves and their cli-ents by maximizing tax-saving strategies. Designed to improve the quality of services to clients and the profitability of engagements, this presentation inte-grates 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.
Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless oth-erwise indicated, no correct or incorrect feedback for any exam question will be provided.
Course Level: Overview. This program is appropriate for professionals at all organizational levels.
Learning Assignment & Objectives
As a result of studying the assigned materials, you should be able to meet the objectives listed below.
ASSIGNMENT
At the start of the materials, participants should identify the following topics for study:
* Qualified deferred compensation
* Basic requirements of a qualified pension plan
* Basic types of corporate plans
* Types of defined contribution plans
* Self-employed plans - Keogh
* Distribution & settlement options of IRAs
* Tax-free rollovers for IRAs
* Roth IRAs
* Simplified employee pension plans (SEPs)
2
* SIMPLE plans
Learning Objectives
After reading the materials, participants will be able to:
1. Determined the differences between qualified and nonqualified de-ferred compensation plans identifying the tax advantages and disad-vantages of each, that is fine the requirements of a qualified pension plan, and recognize how the basic ERISA provisions define the ele-ments of qualified plans.
2. Identify the types of defined contribution and defined benefit plans and their effect on retirement benefits.
3. Recognize the elements of Roth IRAs and traditional IRAs by speci-fying 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 recharacterize Roth IRA contributions.
After studying the materials, answer exam questions 1 to 20.
Notice
This course and test have been adapted from materials and information contained in the above text and any supplemental material provided. This course is sold with the understand-ing that the publisher is not engaged in rendering legal, accounting, or other professional ad-vice and assumes no liability whatsoever in connection with its use. Since laws are constantly changing, and are subject to differing interpretations, we urge you to do additional research and consult appropriate experts before relying on the information contained in this course to render professional advice.
