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Course Details

Retirement Plan Overview - Tax Mini Course (Course Id 139)

Updated / QAS / Registry / EA   Add to Cart 
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 4.0
IRS Credits : 4
Price : $39.95
Passing Score : 70%
Primary Subject-Field Of Study:

Taxes - Taxation 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 : 0
Release : 2016
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 22-Feb-2016
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 - 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.

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* 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
Learning Objectives:

After reading the materials, participants will be able to:
    1. Determined the differences between qualified and nonqualified deferred compensation plans noting 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.
    2. Identify the types of defined contribution and defined benefit plans noting 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 Owners Lifetime & Year of Death after RBD

Sole Beneficiary Spouse Who Is More Than 10 Years Younger

Distributions after Owners Death

Inherited IRAs

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

Taxes Course 139 Home: https://www.cpethink.com/tax-cpa-courses
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