IRAs: What You Need to Know about Contributions, Conversions and Distributions (2 hours - late morning) - Webcast
Overview
Dive into the essentials of IRAs with this course. We’ll go well beyond the basics to cover crucial topics: when to convert traditional IRAs to Roth IRAs, how to minimize tax on conversion, and when clients should recharacterize IRA contributions (and how to recharacterize). We’ll also discuss how to get waivers for clients who fail to take required minimum distributions and other traps in the IRA area including prohibited transactions, excess contributions, and impermissible investments.
OSCPA has partnered with the Washington Society of CPAs for this event.
Highlights
- Determine clients who are well suited for conversion from traditional to Roth IRAs.
- When should clients recharacterize IRA contributions?
- What special traps are present in the IRA area?
- How to receive waivers 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).
Designed For
CPAs in public practice and tax staff in private practice who have some experience with federal taxes.
Objectives
- Identify clients who should convert traditional IRAs to Roth IRAs.
- Identify clients who should recharacterize IRA contributions and how to recharacterize.
- Determine who are the ideal beneficiaries of a particular IRA.
Leader(s):
Leader Bios
George Koutelieris, Cutting Edge Tax Strategies LLC
George J. Koutelieris, CPA, MS-Tax, is a shareholder in the firm Johnson & Shute P.S. and a Member of Cutting Edge Tax Strategies, LLC. He is also an Adjunct Professor at Golden Gate University teaching various tax courses.
George's practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners, with a concentration on the real estate industry.
George is a member of the American Institute of Certified Public Accountants and the Washington Society of Certified Public Accountants, where he is a former chair of the WSCPA's Taxation Committee. George is also an active speaker on various tax topics, having presented in the past for all the State Societies on the west coast.
(3/19/21)
Gregory White, Cutting Edge Tax Strategies LLC
Greg White, CPA-WA, 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 tenth year as an adjunct professor at the Golden Gate University's Seattle Campus where he teaches capital assets, tax accounting, and individual taxation. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named "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, King TV, and Northwest Cable News. He is frequently in contact with Treasury, IRS, and other top government officials in Washington, D.C. as to late breaking guidance from the government and has been involved in making recommendations to them to help practically shape federal tax legislation and administrative guidance.
(11/2/20)
Non-Member Price $120.00
Member Price $105.00