Retirement Plans

Course 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.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

•    Determine the differences between qualified and nonqualified deferred compensation plans noting the tax advantages and disadvantages of each, define 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 plans and defined benefit plans noting 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 recharacterize Roth IRA contributions.