Managing Assets in Qualified Retirement Plans: Maximizing Contributions and Earnings, Minimizing Tax Implications

Most taxpayers are familiar with qualified retirement plans. Whether contributing to a 401(k) plan at work or establishing an SEP (simplified employee pension) for a small business, these tax-deferred vehicles can create a pathway to a secure retirement. Taxpayers who contribute to these plans often fail to review and reallocate their initial investment choices, which can prove costly. Successful business owners may want to contribute more to these accounts than the annual contribution guidelines allow. Incorporating a profit-sharing or defined benefit plan could maximize contributions and tax savings for successful business owners.

In addition to initial considerations concerning plan design and contributions, taxpayers need to understand the modifications made to taxation of withdrawals under SECURE 2.0. Strategically planning and preparing for withdrawals from retirement plans can significantly reduce or eliminate the tax on these distributions to taxpayers and heirs. 

Listen as our panel of astute retirement planning professionals discusses methods to increase contributions and defer, lessen, or avoid tax on these savings plans.

I. Managing assets in qualified retirement plans: introduction

II. Qualified retirement plan designs

A. Basic

B. Advanced

III. Investment strategies to maximize benefits

IV. SECURE 2.0

V. Strategic withdrawals

VI. Other considerations

The panel will cover these and other critical issues:

• Examples of advanced qualified retirement plan designs
• Investment strategy to maximize benefits
• SECURE 2.0 guidelines for withdrawals from retirement plans
• Planning under the current distribution rules to minimize tax paid by beneficiaries

Learning Objectives

After completing this course, you will be able to:

• Identify new rules for taxation of withdrawals after SECURE 2.0
• Determine how to manage investments in retirement plans to maximize retirement benefits
• Decide how to strategize distributions from qualified plans to minimize tax
• Ascertain differences between basic and advanced qualified retirement plan designs

• Field of Study: Taxes
• Level of Knowledge: Intermediate
• Advance Preparation: None
• Teaching Method: Seminar/Lecture
• Delivery Method: Group-Internet (via computer)
• Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
• Prerequisite:

  Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate, gift and trust taxation including various trusts types, the unified credit, and portability.

  
  

Strafford Publications, Inc. 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).