IRAs and Roth IRAs

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IRAs and Roth IRAs – Pots of Gold at the End of the Rainbow

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Systematic saving and intelligent use of tax breaks is critical to being able to retire at all and retire well. This course locks down on building a future to count on. Updated in August of 2020, the course takes a fresh look at the tax and asset protection aspects of individual retirement accounts under the Tax Cuts Jobs Act, recent important court decisions, as well as the SECURE Act.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to [email protected]

Basic Course Information

Learning Objectives

• Learn IRA income and estate tax planning best maneuvers
• Investigate available asset protection features of IRAs and how to keep them
• Understand foundational requirements, operational boundaries, opportunities and pitfalls of both conventional and self directed IRAs and Roth IRAs
• Explore what is possible and how to avoid what can go horribly wrong with self directed IRAs

Major Subjects

• Deductible, nondeductible, spousal, conduit, traditional and Roth IRAs
• Qualification requirements, investment restrictions and constructive receipt
• Income tax reporting and disclosure rules and income tax withholding requirements
• Early distribution penalties and how to avoid them
• Conversion from traditional to Roth IRA, recharacterization and reconversion
• New restrictions on recharachterization – How to not get hurt
• Rollovers, trustee to trustee transfers to/from IRAs, qualified plans and decedents
• Forced distributions (RMDs) at retirement and after death
• Estate planning: Optimal beneficiary designations, avoiding IRD problems, funding marital bequests, special Roth features, charitable giving and estate liquidity
• Proving basis in a nondeductible traditional or Roth IRA – What to do if you can’t
• Taking the mystery out of prohibited transactions and preventing them
• Taking the mystery out of prohibited transactions and preventing them
• Self directed IRAs do’s, don’ts, upside, treachery – Oh, how sweet they can be

Bradley Burnett practices tax law in Colorado. After undergraduate (Business Administration/Accounting) school and law (J.D.) school, he earned a Master of Laws in Taxation (LL.M.) from the University of Denver School of Law Graduate Tax Program. After stints at national and local accounting firms and a medium sized Denver law firm, he established his own law firm in 1990, He has delivered more than 3,300 presentations on tax law to CPAs, attorneys, EAs and others throughout all fifty U.S. states, Washington, D.C. and seven countries. Bradley served four years as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch-hit in the IRS practice and procedure field. He authors and teaches tax materials for Commerce Clearing House (CCH), has received the Illinois Society of CPAs Instructor Excellence Award and five times has been the most requested, top-rated presenter at annual state CPA tax institutes. His seminar style is briskly paced delivery of practical insights with humor.

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