Upcoming CPE

In the past, taxpayers who have had adjusted gross income (AGI) above $100,000 were precluded from converting a traditional IRA to a Roth IRA. However, beginning with the 2010 tax year, this limitation will be lifted, thereby allowing many more taxpayers the opportunity to convert to a Roth IRA, but should your client convert?

Here are some reasons to convert to a Roth IRA:

1. Taxpayers have special favorable tax attributes, including a high basis ratio, charitable deduction carry‐forwards, Y tax net operating losses (NOLs), etc. This is because these attributes reduce the effective tax rate of the conversion.

2. Suspension of the minimum distribution rules at age 70½ provides a considerable advantage to the Roth IRA holder. This allows for additional tax‐free deferral.

3. Taxpayers benefit from paying income tax before estate tax (when a Roth IRA election A Roth is made) compared to the income tax deduction obtained when a traditional IRA is subject to estate tax. This is because the IRC § 691(c) deduction is inefficient.

4. Taxpayers who can pay the income tax on the IRA from non IRA funds benefit greatly from the Roth IRA because of the ability to enjoy greater tax‐free yields. This is because of the ability to move funds from a “taxable” to a “tax‐free” tax asset class.

5. Taxpayers who need to use IRA assets to fund their Unified Credit bypass trust are well advised to consider making a Roth IRA election for that portion of their overall IRA funds. This is because the exemption is funded on an after‐tax basis.

For more information on Roth IRAs, join Bob Keebler, CPA, MST in a live webcast on July 21 hosted by CPE Link. Bob is a partner with Baker Tilly Virchow Krause, LLP and a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils. He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States as well as one of the Top 40 Tax Advisors to Know During a Recession.


As a CPA, you can be a key member of your client’s “estate planning team.” You can help develop estate planning programs with your clients in order to preserve and manage family wealth, including closely-held business interests as well as investment assets.

With the “estate and GST tax gap” in 2010 and uncertainty as to new legislation and its impact on estate planning, all plans of families with significant wealth should be reviewed and likely updated or improved.

To help you get up to speed on estate planning, valuation and pass-through entities, CPE Link is offering a trio of live webcasts taught by veteran estate planner, Owen Fiore, JD. Owen brings 40+ years of tax and estate planning practice experiences, dealing with new imperatives in Estate Planning, Valuation planning for family wealth (including closely-held businesses), and the best uses of Pass-Through Entities (FLPs, LLCs and S Corporations). Owen provides comprehensive materials for each presentation with references to current case law.

The July schedule include:

7/16: Estate Planning for 2010 and Beyond

7/26: Using Valuation Concepts & Issues in Tax Planning

7/28: FLPs, LLCs and S Corporations

Register for the 3 course Family Wealth Preservation Value Bundle and save! Earn 12 CPE hours.

Here are the top 10 reasons you should attend CPE Link’s upcoming webcast on the Health Care Reform Act:

1. The Patient Protection and Affordable Care Act contains revenue raisers, new taxes, and tax credits affecting almost all employers and individuals.

2. The effective dates for these provisions cover several tax years.

3. You will get client questions! You need to get familiar with the provisions and be able to answer common questions.

4. There are opportunities created by these new provisions. You can help your clients avoid penalties and take advantage of tax credits.

5. This CPE is presented in convenient webcast format; you can learn without leaving your home or office.

6. You’ll hear from top tax instructor Vern Hoven.

7. The webcast is recorded and you can view the presentation again as many times as you like.

8. It fits your schedule; there are five dates to choose from: May 25, June 28, July 27, Aug 24, or Sep 29.

9. You can earn 2 CPE hours.

10. The program is geared to CPAs, enrolled agents and other tax practitioners.

Register today!

Do you have an easy way to stay updated on the most current accounting issues? You could read all the magazines and journals. You could scan the regulatory websites, read exposure drafts and the like. Or, you can tune into a live webcast, sit back, relax and listen…

Starting May 20 CPE Link will begin a new live webcast series called This Month in Accounting. This six month series will cover the latest accounting topics of interest to CPAs and other financial professionals including changes in U.S. GAAP, the convergence of U.S. GAAP with IFRS, financial accounting and reporting news and controversies.

The speaker for these webcasts will be Bruce Pounder, CFM, CMA. Bruce is an internationally-recognized expert on corporate financial reporting and the global convergence of financial reporting standards. Bruce’s observations on financial accounting and reporting are regularly quoted in the media, including Accounting Today, CFO Magazine, Compliance Week, Forbes.com, and The Investment Professional Journal. He is the author of the 2010 U.S. Master GAAP Guide (CCH) and the Convergence Guidebook for Corporate Financial Reporting (Wiley).

Bruce is also president of Leveraged Logic™, a leader in the development and delivery of educational products and services for accounting professionals. Since founding Leveraged Logic in 1988, Bruce has presented accounting seminars, conference sessions, and webcasts to thousands of professionals around the world.

Ready to hear Bruce? You can register for individual monthly sessions ($69 for 2 CPE hours) or sign up for all six sessions running May-October and earn 12 CPE hours for only $299. If you have three or more participants at the same location, you can save when you view a live webcast as a group. Sign up at the discounted group rate-typically a 20% savings! Hope you can join us!

On March 18, 2010, the President signed the Hiring Incentives to Restore Employment (HIRE) Act intended to encourage employers to hire the unemployed. CPE Link is offering a one-hour webcast to examine the impact the new law has on your business clients.

Dynamic tax expert, Vern Hoven, CPA, EA, will cover the following:

  • The two incentives meant to jump-start employment hiring
  • Which employers qualify and which don’t
  • The maximum per-employee credit for 2010
  • Applying the “affidavit” requirement properly
  • Understanding when to elect out of using the HIRE benefits
  • Reporting the HIRE tax forgiveness on Form 941 properly
  • The $1,000 retention credit
  • Renewal of the §179 expensing election

There will be opportunities for Q&A.

There are four dates/times to choose from for this live webcast:

Monday, April 26 10:00am Pacific Time

Monday, April 26 12:00pm Pacific Time

Friday, May 7 9:00am Pacific Time

Friday, May 7 11:00am Pacific Time