CIRA
COMPLETE STRATEGIES FOR MAXIMIZING CONTRIBUTIONS, ROLLOVERS, DISTRIBUTIONS, AND ESTATE PLANNING OF IRAS, SIMPLES, SEPS, AND ROTHS

Most individuals will accumulate a significant amount of wealth through contributions or rollovers from qualified plans into IRAs. Although the rules in this area provide for tremendous planning opportunities, they are very complex. The purpose of this course is to provide insight into this important area of practice.

Major Topics:

  • Understanding the best ways to pass an IRA on to a beneficiary and avoiding the pitfalls
  • Taking your IRA early and avoiding penalties
  • Everything you want to know about rollovers – tips and traps
  • Regular, non-deductible, and Roth IRAs – limits, benefits, and rules
  • SIMPLEs and SEPs: the other kinds of IRAs
  • How to take advantage of the final minimum distribution regulations
  • Splitting an IRA into multiple IRAs for beneficiary planning and significant tax benefits
  • Comparative modeling for substantially equal payment options
  • Recognizing the significant estate planning issues when dealing with IRAs, including making charitable contributions
  • Late-breaking tax legislation, regulations, and rulings

Learning Objectives:

  • Distinguish between various types of IRAs
  • Explain how Roth IRAs fit into a taxpayer's retirement and estate planning
  • Describe the basics of regular, employer-sponsored SEPs and salary-reduction SEPs
  • Discuss the basics of SIMPLE IRAs
  • Apply the general rules applicable to all rollover transactions
  • Define the vocabulary associated with the minimum distribution rules
  • Summarize the basic features and planning concepts of annuities
  • Describe the estate planning ramifications of qualified benefits

Designed For: CPAs who want to learn about this key area of practice and all of the planning options available
Level of Knowledge: Intermediate
Prerequisite: Basic knowledge in estate and retirement planning
Advanced Preparation: None
Credits: 8