IRAs: What You Need to Know about Contributions, Conversions and Distributions WEBCAST

Overview

This course covers the essentials of IRA’s. We’ll go well beyond the basics to cover crucial topics: when to convert traditional IRA’s to Roth IRA’s, how to minimize tax on conversion, and when clients should recharacterize IRA contributions (and how to recharacterize). We’ll also discuss how to get a waiver for clients who fail to take a required minimum distributions and other traps in the IRA area including prohibited transactions, excess contributions, and impermissible investments.

Highlights

Determine clients who are well suited for conversion from traditional to Roth IRA’s. When should clients recharacterize IRA contributions? What special traps are present in the IRA area? How to receive a waiver for clients who failed to take the proper required minimum distributions (updated for the SECURE Act 2.0). Requirement minimum distributions from inherited IRAs (updated for SECURE Act 2.0 and also 2023 IRS guidance).

Prerequisites

None.

Designed For

CPAs and in public practice and tax staff in private practice who have some experience with federal taxes.

Objectives

Identify clients who should convert traditional IRA’s to Roth IRA’s. Identify clients who should recharacterize IRA contributions and how to recharacterize. Determine who are the ideal beneficiaries of a particular IRA.

Preparation

None.

Notice

None.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Gregory White, President, WGN PS

Leader Bios

Gregory White, President, WGN PS

4.96 stars out of 5
“These 2 rock. [They are] prepared and knowledgeable.”
“George & Greg always do a great job! They are always super helpful.” - past attendees

Greg White, CPA, has practiced tax accounting for more than 35 years. He is founder, shareholder, and President of CPA firm WGN, P.S. in Seattle, Washington, which serves a successful entrepreneurial client base. He also owns and operates State of the Art Tax, LLC, a tax education company. Greg is in his twelfth year as an Adjunct Professor at the Golden Gate University’s Seattle Campus. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named a “Top 50” IRS Practitioner by CPA Magazine. Greg has extensively presented tax CPE, predominantly on the west coast, over the last decade and has written and presented live courses and webinars for CCH and others nationally. He has presented tax topics in the Pacific Northwest on TV including spots on KOMO TV and King TV.

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