2013 New Roth Conversion Opportunities & Other Retirement Curveballs
Target Audience: CPAs, EAs
Field of Study: Taxation (NASBA); Federal Tax/Tax Related Matters (IRS)
Seminar Level: Beginner
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.
DISCLAIMER: THIS SEMINAR WAS FILMED IN GRAPEVINE, TEXAS, ON AUGUST 1, 2013, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The Employee Plans office of the Tax Exempt and Government Entities division delivered this seminar at the 2013 IRS Nationwide Tax Forum.
Learn how the decisions you make affect the long-term tax advantages of your retirement distributions: expanded opportunities for Roth conversions within your 401(k) plan; added value of a solo 401(k) plan; how getting beneficiary designations wrong may cost you; how inheriting an IRA and decisions you make regarding it will affect your tax bill; and how delaying Social Security could lead to a more secure retirement.
By the end of this presentation you will be able to:
- Identify the types of retirement plans which allow within-plan Roth conversions to a designated Roth account
- Recognize that a within-plan Roth conversion merely changes the account in which the monies are held and the tax character of that account, not the distribution restrictions on the amount
- Compute the Unearned Income Medicare Contribution (UIMC) tax
- List the distribution options for a retirement plan after the death of the plan participant
No prerequisites or advanced preparation are required for this seminar.