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| Author : | Danny C Santucci, JD |
| Course Length : | Pages: 25 ||| Review Questions: 20 ||| Final Exam Questions: 20 |
| CPE Credits : | 4.0 |
| IRS Credits : | 4 |
| Price : | $35.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Taxes - Taxes for Course Id 139 |
| Description : | 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 services 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. |
| Usage Rank : | 20000 |
| Release : | 2023 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Retirement Planning
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 14-Jul-2023 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 139 |
| Keywords : | Taxes, Retirement, Plan, Overview, Tax, Mini, Course, cpe, cpa, online course |
| Learning Objectives : |
As a result of studying the assigned materials, you should be able to meet the objectives listed below. ASSIGNMENTAt the start of the materials, participants should identify the following topics for study:
* Basic requirements of a qualified pension plan * Basic types of corporate plans* Qualified deferred compensation * 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) * SIMPLE plans After reading the materials, participants will be able to:
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 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 recharacterize Roth IRA contributions. |
| Course Contents : | Chapter 1 - Retirement Plan Deferred Compensation Qualified Deferred Compensation Qualified v. Nonqualified Plans Major Benefit Current Deduction Timing of Deductions Compensation Base Salary Reduction Amounts Corporate Plans Advantages Current Deferred Disadvantages Employee Costs Comparison with IRAs & Keoghs Basic ERISA Provisions ERISA Reporting Requirements Fiduciary Responsibilities Bonding Requirement Prohibited Transactions Loans Employer Securities Excise Penalty Tax PBGC Insurance Sixty-Month Requirement Recovery against Employer Plans Exempt from PBGC Coverage Basic Requirements of a Qualified Pension Plan Written Plan Communication Trust Requirements Exclusive Benefit of Employees Highly Compensated Employees Participation & Coverage Age & Service Coverage Percentage Test Ratio Test Average Benefits Test Numerical Coverage Related Employers Vesting Full & Immediate Vesting Minimum Vesting Nondiscrimination Compliance Contribution & Benefit Limits Defined Benefit Plans (Annual Benefits Limitation) - §415 Defined Contribution Plans (Annual Addition Limitation) - §415 Limits on Deductible Contributions - §404 Basic Types of Corporate Plans Defined Benefit Mechanics Defined Benefit Pension Defined Contribution Mechanics Discretion Types of Defined Contribution Plans Profit Sharing Requirements for a Qualified Profit Sharing Plan Eligibility Deductible Contribution Limit Substantial & Recurrent Rule Money Purchase Pension Cafeteria Compensation Plan Section 401(k) Plans Employee Contributions Non-Deductible Plan Terminations & Corporate Liquidations Self-Employed Plans - Keogh Contribution Timing Controlled Business General Limitations Mechanics Figuring Retirement Plan Deductions For Self-Employed Self-Employed Rate Determining the Deduction Individual Plans - IRAs Mechanics Phase-out Special Spousal Participation Rule - §219(g)(1) Spousal IRA Eligibility Contributions & Deductions Employer Contributions Distribution & Settlement Options Life Annuity Exemption Minimum Distributions Required Minimum Distribution 2009 Waiver of Required Minimum Distribution Rules - Expired Definitions Distributions during Owner’s Lifetime & Year of Death after RBD Required Minimum Distributions in Year of the Owner's Death Beneficiaries - Distributions after Owner’s Death Estate Tax Deduction Post-Retirement Tax Treatment of IRA Distributions Income In Respect of a Decedent Estate Tax Consequences Tax-Free Rollovers Rollover from One IRA to Another Waiting Period between Rollovers Partial Rollovers Rollovers from Traditional IRAs into Qualified Plans Rollovers of Distributions from Employer Plans Withholding Requirement Waiting Period between Rollovers Conduit IRAs Keogh Rollovers Direct Rollovers from Retirement Plans to Roth IRAs Rollovers from SIMPLE IRAs Roth IRA - §408A Eligibility Contribution Limitation Roth IRAs Only Roth IRAs & Traditional IRAs Conversions Recharacterizations Reconversions Taxation of Distributions No Required Minimum Distributions Simplified Employee Pension Plans (SEPs) Contribution Limits & Taxation SIMPLE Plans SIMPLE IRA Plan Employee Limit Other Qualified Plan Set up Contribution Limits Salary Reduction Contributions Employer Matching Contributions Deduction of Contributions Distributions SIMPLE §401(k) Plan Glossary |
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