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Early Withdrawals from IRA’s – Taxes, Penalties, and Exceptions – 1-hour Federal Tax – Basic - Prerequisite: Basic Tax Preparation Knowledge.
This session will cover IRA withdrawals prior to age 59 ½ -- income taxation, penalties, and exceptions to penalties. Pennsylvania taxation of early withdrawals will be discussed.
IRA Withdrawals by Owner During Life After 70.5 – 1-hour Federal Tax – Basic - Prerequisite: Basic Tax Preparation Knowledge.
The session will discuss IRA Required Minimum Distributions (RMD) After 70.5, important dates, who is responsible for taking RMDs, and taxation including QCD, after-tax money, and penalties for under-distributions. Pennsylvania treatment will be discussed.
IRC 7216 Regulations – Disclosure & Use of Tax Information by Tax Return Preparers 2-hour Federal Ethics – Basic - Prerequisite: Basic Tax Preparation Knowledge.
This 2-hour Ethics session will review the rules on disclosures and use of tax return information by preparers and others. We will examine Code Sections7216 and 6713, Regulation § 301.7216 and Revenue Procedures 2008-35 and 2013-14. Practical examples of how to apply these rules in the small tax practice will be discussed.
1099-R Box by Box Federal Taxation – 2-hour Federal Tax – Basic - Prerequisite: Basic Tax Preparation Knowledge.
This course will review the various types of income reported on Form 1099-R and the different types of the form preparers will see in practice. We will explore each box of Form 1099-R, what it represents, and the ramifications for federal taxation. There will be an in-depth review of codes in box 7.
1099-R PA Taxation – 1-hour Other Tax – Basic – Prerequisite: Basic PA Tax Preparation Knowledge
This course will review the various types of income reported on Form 1099-R and the different types of the form preparers will see in practice. We will explore each box of Form 1099-R, what it represents, and the ramifications for PA taxation, which can be very different from the federal treatment. There will be a review of codes in box 7 as well, their meaning for PA taxation, and how to calculate the taxable amount
Tax Treatment of Qualified Charitable Distributions (QCD) from IRA Accounts –1-hour Federal Tax – Basic – Prerequisite: Basic Tax Preparation Knowledge
This session will be an overview of Qualified Charitable Distributions – what accounts are eligible, which taxpayers are eligible, mechanics of making a QCD, record keeping requirements, tax return preparation, and opportunities and pitfalls.
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