LEARN HOW TO AVOID THE IRA PENALTY APPLICABLE TO R 2016 - Minimum required distribution rules for IRAs – Avoiding the 50% penalty - By Compliance Global Inc

Website https://complianceglobal.us/product/700302/RobertEBarnhill/minimum-required-distribution-rules-for-i | Edit Freely

Category Education; E-Learning

Deadline: August 10, 2016 | Date: August 10, 2016

Venue/Country: Online Training, U.S.A

Updated: 2016-07-12 19:50:06 (GMT+9)

Call For Papers - CFP

You cannot keep retirement funds in your account indefinitely. You generally have to start taking withdrawals from your IRA or individual retirement account when you reach age 70½. Roth IRA rules do not require withdrawals until after the death of the owner.

The minimum amount you must withdraw from your account each year is called your required minimum distribution. You can withdraw more than the minimum required amount. Your withdrawals will be included in your taxable income except for any part that was taxed before (your basis) or that can be received tax-free (such as qualified distributions from designated Roth accounts). If you fail to take out the required minimum distribution, a 50% penalty will be imposed on the difference between what you should have distributed and what was actually distributed.

The webinar will cover the rules to compute the required minimum distribution, so the correct amount can be timely distributed avoiding the 50% penalty.

Why Should You Attend:

Most people do not realize amounts inside their IRA cannot be retained indefinitely. Once a person reaches age 70½, a minimum distribution will be required annually. In addition, minimum, annual distributions must be made from an inherited IRA or Roth IRA.

Failure to distribute the minimum will result in a 50% penalty being imposed on the difference between what should have been distributed and what was actually distributed. The IRS has started to review IRA penalty to make sure the required minimum distributions are being made.

This webinar will help you understand the required income tax calculator rules and avoid the 50% penalty. You will learn how the minimum distribution amount is computed and by what date the minimum distribution must be distributed. The rules that apply while the IRA owner is living and the rules that apply when the IRA owner has died will be covered. If you own an IRA or advice someone who owns an IRA, this webinar will help you avoid a costly error. Further, the webinar will cover required minimum distributions from a Roth IRA.

Areas Covered in this Webinar:

The required minimum distribution rules

How to compute the required minimum distribution

When the required minimum distribution must be made

How the required minimum distribution rules apply to the IRA owner while living and once deceased

How the 50% penalty is computed

How the required minimum distribution rules apply to Roth IRAs

Interaction between an IRA and qualified plans

Learning Objectives:

Learn how to avoid the 50% penalty applicable to required minimum distributions whether an IRA or Roth IRA owner

Who Will Benefit:

Anyone who owns an IRA or Roth IRA

Anyone who advises the owner of an IRA or Roth IRA

Anyone who recommends investing in an IRA or Roth IRA

For more information, please visit : https://complianceglobal.us/product/700302/RobertEBarnhill/minimum-required-distribution-rules-for-iras-avoiding-penalty/1

Email: supportcomplianceglobal.us

Toll Free: +1-844-746-4244

Tel: +1-516-900-5515

Level:

Intermediate

Speaker Profile:

Robert E. Barnhill, III, is an Attorney, Certified Public Accountant, Personal Financial Specialist and Certified Financial Planner designee from Lubbock, Texas, where he practices in the areas of Estate, Retirement, and Individual Tax Planning.

Bob graduated from Texas Tech University in 1976 with a Bachelor of Business Administration and in 1980 with a Master of Business Administration and a Doctor of Jurisprudence. Bob graduated Magna Cum Laude from Law School and was named to the Order of the Coif. Bob worked for two years with the Private Business Advisory Services department of the Dallas office of Peat, Marwick, Main.

Upon returning to Lubbock, he worked for two law firms before starting his own solo practice in 1985. Since 1986, he has served as an adjunct professor at Texas Tech University in the Colleges of Business Administration and Human Sciences. Bob has taught: Management and the Business Environment, Administrative Policy, Business Enterprises, Retirement Planning, Estate Planning, and is currently teaching Advanced Individual Taxation in the Personal Financial Planning Department.

He is President of L*I*V*E Speakers, Inc., a training and speaking firm. For the last twenty-nine years, Bob has taught courses for a variety of professional associations including the Texas Society of CPAs, the American Institute of CPAs, Surgent & Associates, and the Texas Extension Education Foundation, Inc.

Some of the courses Bob has taught are: Income Taxation of Estates and Trusts; Fiduciary Income Tax Return Workshop; Modern Approach to Fiduciary Accounting; Estate and Gift Taxation; Analysis and Role of Investments in Personal Financial Planning; Successful Financial Planning for Retirement; Executive Compensation: Structuring the Pay Package; Wealth Accumulation Planning; Wealth Utilization and Transfer; Fringe Benefit and Business Succession; and Current Employee Benefit Issues. Other books he has authored include Understanding Estate and Gift Taxation, Entities for Wealth Transfer, Business Law Trends, Special Issues in Business Law, Leadership: Today and Tomorrow and Accounting & Reporting for Estates and Trusts.

Robert has been involved in many professional and community associations. In 1989-90 and 2000-03, he served as President of the West Texas Chapter of the Financial Planning Association and in 1988-89, he served as the Chairman of the Small Business Committee of the Lubbock Chamber of Commerce. During 1996-97, he served as the International President of Toastmasters International and has received many awards as a Toastmaster.

Bob is a member of the American Bar Association, AICPA, TSCPA, National Speakers Association, and various other professional associations. In 1992, Bob was awarded the title of Accredited Speaker by Toastmasters International and has been named as an Outstanding Discussion Leader by the AICPA.