Income for retirement can come from the sale of a business, personal savings, social security, and a private retirement plan. Private qualified retirement plans were established by the government specifically to enable businesses to create retirement benefits for employees. A qualified retirement plan meets the requirements of the Internal Revenue Code and, as a result, comes with tax advantages and security unavailable in other strategies.

Money accumulated in a qualified plan or IRA is income taxable at the maximum tax rate when it is distributed, whether during your life or upon your death. Required minimum distributions at age 73 make sure that you cannot defer taxation indefinitely, and even an inherited Roth IRA must be liquidated within 10 years, denying lifetime protected benefits. The tax treatment cannot be changed. However, there is a unique strategy, endorsed as a safe harbor by the IRS, that combines pension rules together with the one-and-only asset for which the IRS provides preferential tax treatment when distributing from a qualified plan to reduce taxes, increase benefits, avoid all mandatory liquidation rules, and reduce risk.

Learning Objectives:

• Evaluate the long-term impact of retirement/qualified accounts


• Recognize the overlooked taxation of qualified money at distribution and death


• Identify and compare retirement options and risks, and learn how to plan for retirement account distributions


• Determine how to help clients minimize taxes and maximize their retirement and estate benefits


• Express awareness of distribution alternatives to control the tax impact


• Define recent legislative changes affecting qualified plans


• Give examples of how to have a more meaningful conversation with your clients about planning for using their retirement accounts

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) 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.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222