Brush up on your Roth IRA conversion and tax scenario skills and discover the impacts of the recently released in-plan rollovers guidance.
A major concern for many individuals is whether their retirement income is enough for them to live comfortably in their later years. One of the tools available that can be used to maximize retirement income is to take advantage of the tax benefits of Roth accounts. Many taxpayers can have a significant increase in their retirement income by receiving tax exempt income from Roth accounts. This on-demand webinar is designed to show how to maximize retirement income for some individuals by using Roth accounts and also to indicate situations when a Roth account will not increase retirement income. Learn how to use Roth accounts to make the most of a Roth conversion. The on-demand webinar also shows how to modify or even undo a Roth conversion because of events occurring after the original Roth conversion. We will also show how the timing of later distributions from Roth accounts can be used to maximize the benefits from having a Roth account.
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Why Lorman?
Over 37 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
Overview of Roth Accounts
- Roth IRA Accounts
- Roth 401(k) Accounts
Roth IRA Contributions
- Eligibility to Contribute
- Limits on Contributions
- Returned Contributions
- Recharacterized Contributions
Designated Roth Accounts (Roth 401(k) Accounts)
- Eligibility to Contribute
- Limits on Contributions
Converting to Roth IRAs and Designated Roth Accounts
- Conversion
- Factors to Consider Regarding If, When and How Much to Convert
- Recharacterized Conversion
- Reconversion After a Recharacterization
- Comparison of Using Roth IRAs and Designated Roth Accounts
- Other Items to Consider When Doing Roth IRA Conversions
Corrections Available When Things Go Wrong
- Excess Contributions
- Failed Conversion
- Failed Rollover
- Failed Reconversion
Rollovers
- Roth IRA
- Qualified Plan
- Designated Roth Accounts
- Recharacterized Contributions
Distributions
- RMDs
- Early Distributions
- Taxability
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Why Lorman?
Over 37 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 revised on July 17, 2014.
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 37 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
Kevin L. Wadle, CPA
CliftonLarsonAllen LLP
- Director at CliftonLarsonAllen LLP in Peoria, IL
- Extensive background in tax and benefit services, with an emphasis on qualified and nonqualified benefit plans
- More than 30 years of experience in public accounting, including extensive experience in the design, implementation, operation, compliance and termination of qualified and nonqualified benefit plans; performed numerous IRS and DOL audits; and prepared numerous IRS and DOL submissions to maintain status of benefit plans
- Member of American Institute of Certified Public Accountants, Illinois CPA Society
- Received Elijah Watt Sells Award with high distinction for performance on the national CPA examination presented by American Institute of Certified Public Accountants for one of the highest scores in the nation
- Outstanding candidate in Iowa for performance on the national CPA examination presented by the Iowa Accountancy Examining Board for the highest score in the State
- B.A. degree in accounting, University of Northern Iowa
- Can be contacted at 309-495-8759 or [email protected]
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Why Lorman?
Over 37 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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