Understand the rules regarding both Roth IRAs and Roth 401(k)s and why they should be part of your strategy.
Developing an effective retirement plan to meet individual savings objectives is complicated. Different rules apply to different types of plans and accounts and these rules are frequently confused and misunderstood by clients and advisors causing unexpected or negative consequences. Understanding the advantages Roth accounts have in retirement planning strategy is important, yet it is often overlooked because of the confusion and complexity. This topic will help you understand the rules regarding both Roth IRAs and Roth 401(k)s and why they should be part of your strategy. Learn how to determine who can contribute directly to Roth accounts and who needs to look for backdoor solutions. This material will also help you identify pitfalls that could jeopardize a tax-free conversion and help you ask the right questions and provide the right advice regarding the taxable portion of a conversion. In addition to exploring the rules regarding getting money into Roth accounts, we will explore the why and identify the ideal candidates for Roth investments.
Learning Objectives
- You will be able to distinguish between Traditional vs. Roth Retirement Savings.
- You will be able to identify Roth IRA Conversion Basics.
- You will be able to recognize distribution basics.
- You will be able to identify Planning Opportunities to Reduce or Eliminate Taxation on Roth IRA Conversions.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Traditional vs. Roth Retirement Savings
- Who Is Eligible to Make Traditional IRA Contributions?
- Who Is Eligible to Make Roth IRA Contributions?
- Who Is Eligible to Make Roth Contributions to an Employer-Sponsored Plan?
- Taxation of Roth Distributions - Qualified Distributions and the Roth Clock
Roth IRA Conversion Basics
- What Is a Roth IRA Conversion?
- Who Is Eligible to Do a Roth IRA Conversion?
- Calculation of Basis in IRA Accounts
- Backdoor Roth IRA Contributions
- Recharacterization
Planning Opportunities to Reduce or Eliminate Taxation on Roth IRA Conversions
- Identification of IRA Accounts to Determine Possible Taxation of Conversion
- Rollover Techniques to Eliminate Taxable IRA Accounts
Roth 401(k)s, 403(b)s and Governmental 457(b)s
- In Plan Roth Conversions the Mechanics
- Tax Consequences
- Mega Backdoor Roth 401(k) Contributions
Why Roth?
- Identify Idea Candidates for Roth Accounts
- Looking Beyond the Marginal Tax Rate
- Roth Accounts in Estate Planning
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last reviewed on March 14, 2024.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Mary Mlock, CPA
BST
- Partner in charge of BST Retirement Services with 30 years of experience
- Focuses practice on employee benefits, and expertise includes design, implementation consulting, and administration of defined contribution plans and other employee benefit plans
- Member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants
- Bachelor’s degree in business administration, Siena College
- Can be contacted at [email protected] or www.bstco.com
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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