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Use the IRS to Get the IRS Out of Your Retirement


Cost Free
Presentation Length 1.0 hour

Recorded DateApril 22, 2024
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

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

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Mary Read CPC, CPFA, QPA has more than 30 years of experience designing and establishing qualified retirement plans for closely held businesses. Mary’s expertise has made her a frequent speaker and contributor to financial industry publications and she has written several books on the subject of qualified plans and retirement. Among her credits she has taught pension classes for financial professionals of major financial institutions and been a featured speaker at national meetings for the Society of Financial Service Professionals, the Association for Advanced Underwriting (AALU), LIMRA, Million Dollar Round Table (MDRT) and the Form 400. Mary continues her active role in supporting financial professionals and closely held businesses with pension strategies in her present position with Eliminate Hidden Fees and as National Director of Qualified Plan Marketing at Pentegra Retirement Services. 

About Our Presenter


Eliminate Hidden Fees is a boutique financial services firm specializing in helping clients make the most of their retirement accounts with unique tax advantaged planning solutions. Qualified accounts are the most efficient way of saving for retirement, and maximizing these contributions benefits clients with a current tax deduction by accumulating more resources for retirement. Our services include solutions to maximize these retirement benefits from their retirement accounts for their specific purposes. We provide our assessment and analytical services at no cost, and we also specialize in helping clients leverage pension laws to maximize the amount of money they can put away tax free.