This course is intended to provide the tax professional with the knowledge and skills necessary to inform his or her clients about the benefits and possibilities that exist with self-directed IRA and 401(k) accounts. There is a widespread misconception that permissible IRA investments are limited to stocks, bonds, mutual funds and CD’s. This is likely the result of the companies that are in the business of selling these investments also serving as the IRA custodian for most investors. Most custodians then choose to limit IRA investment options to the products they sell.
A truly self-directed IRA Administrator does not impose investment restrictions beyond the IRS limitations which allows investors to capitalize on a broad range of investments, including Real Estate, Mortgage Loans, Tax Liens and Private Placements. Tax professionals are often the most trusted advisor for many individuals, and as a result, the tax professional will be asked these questions by their clients on an increasingly frequent basis.
Review: The meaning of self-direction and why few firms offer true self direction, who decides the allowable investments, and the tax difference between retirement funds and non-retirement funds.
Review: Traditional, Roth, SEP, SIMPLE IRAs, HSA’s ESA’s, and Qualified Plans and the differences between the types of plans.
Review contribution amounts, distribution guidelines, qualifications for a Roth IRA, deduction limits when contributing to a Traditional IRA, and RMDs and Spousal IRAs.
Describe a transfer, rollover, and conversion and distinguish between them while comparing the benefits and tax ramifications of each.
Review self-direction and classify permitted investments, prohibited transactions, and disqualified parties. IRC Section 4975.
Scott Maurer is the Director of Business Development for Advanta IRA. Advanta specializes in administering self-directed IRA and retirement accounts. Scott has worked for Advanta since 2006, and is a frequent speaker and lecturer on the topic of self-directed IRAs and using retirement funds to invest in real estate and other alternative assets. Scott is also an attorney and a member of The Florida Bar, although he does not give legal advice to Advanta clients.
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