Course description

(IRAs) Individual Retirement Accounts, both traditional IRAs and Roth IRAs will discuss tax planning, concentrating on tax benefits of contributing to IRAs.

The course will discuss the tax benefits of traditional individual retirement accounts (IRAs), including how to record deductions related to traditional IRAs on tax forms, using actual tax forms as examples to demonstrate scenarios.

We will discuss contribution limits to traditional individual retirement accounts (IRAs) and how those contribution limits interplay with other types of retirement accounts like employer-provided retirement plans.

The course will discuss the tax benefits of Roth individual retirement accounts (IRAs) or Roth IRAs.

We will discuss contribution limits to Roth individual retirement accounts (IRAs) or Roth IRAs and how those contribution limits interplay with other types of retirement accounts.

The course will compare and contrast Traditional IRAs and a Roth IRAs.

We will also cover retirement savings contributions credits, including qualification credits and examples of how to report the credit using actual tax forms.

What you’ll learn

  • Individual Retirement Account (IRA) Tax Benefits
  • How to Report IRA Deduction On Tax Return Using Real Tax Forms
  • Roth IRA Tax Benefits
  • Traditional IRA and Roth IRA Contribution Limits


Are there any course requirements or prerequisites?

  • Some understanding of US income tax law


Who this course is for:

  • Anybody who wants to save on taxes
  • Tax professionals

Course curriculum

  • 2
    Traditional (IRAs) Individual Retirement Account
    • 305 Introduction & What Is Compensation FREE PREVIEW
    • 305 Traditional IRAs Introduction & What Is Compensation FREE PREVIEW
    • 308 How Can a Traditional IRABe Opened FREE PREVIEW
    • 308 How Can a Traditional IRA Be Opened Introduction FREE PREVIEW
    • 308 How Can a Traditional IRA Be Opened
    • 310 Individual Retirement Account
    • 310 How Can a Traditional IRA Be Opened Individual Retirement Account
    • 314 Individual Retirement Annuity
    • 314 Individual Retirement Annuity
    • 321 SIMPLE IRAs
    • 321 SIMPLE IRAs
    • 324 Simplified Employee Pension (SEP)
    • 324 Simplified Employee Pension (SEP)
    • 327 How Much Can Be Contributed
    • 327 How Much Can Be Contributed
    • 331 General Limit
    • 331 General Limit
    • 334 Kay Bailey Hutchison Spousal IRA Limit
    • 334 Kay Bailey Hutchison Spousal IRA Limit
    • 337 Filing Status
    • 337 Filing Status
    • 341 Less Than Maximum Contributions
    • 341 Less & More Than Maximum Contributions
    • 344 When Can ContributionsBe Made
    • 344 When Can Contributions Be Made
    • 347 How Much Can You Deduct
    • 347 How Much Can You Deduct
    • 351 Are You Coveredby an Employer Plan
    • 351 Are You Covered by an Employer Plan
    • 354 Limit if Covered by Employer Plan
    • 354 Limit if Covered by Employer Plan
    • 354 Tax Software Limit if Covered by Employer Plan
    • 354 Tax Software Limit if Covered by Employer Plan
    • 357 Figure Reduced IRA Deduction & Reporting Deduction Contributions
    • 357 Figure Reduced IRA Deduction & Reporting Deduction Contributions
    • 361 Nondeductible Contributions
    • 361 Nondeductible Contributions
    • 364 Examples—Worksheet for Reduced IRA Deduction for 2018
    • 364 Examples—Worksheet for Reduced IRA Deduction for 2018
    • 367 What if You Inherit an IRA
    • 367 What if You Inherit an IRA
    • 371 Can You Move RetirementPlan Assets
    • 371 Can You Move Retirement Plan Assets
    • 374 Trustee-to-Trustee Transfer
    • 374 Trustee-to-Trustee Transfer
    • 377 Rollovers
    • 377 Can You Move Retirement Plan Assets Rollovers
    • 381 Time Limit for Making a Rollover Contribution
    • 381 Time Limit for Making a Rollover Contribution
    • 383 Rollover From One IRA Into Another
    • 383 Rollover From One IRA Into Another
    • 387 Rollover From Employer's PlanInto an IRA
    • 387 Rollover From Employer's Plan Into an IRA
    • 391 Rollover Chart
    • 391 Rollover Chart
    • 394 Transfers Incident to Divorce
    • 394 Transfers Incident to Divorce
    • 397 Converting From Any Traditional IRA
    • 397 Converting From Any Traditional IRA Into a Roth IRA
    • 407 When Can You Withdraw or Use Assets
    • 407 When Can You Withdraw or Use Assets
    • 411 Contributions ReturnedBefore Due Date of Return
    • 411 Contributions Returned Before Due Date of Return
    • 414 What Acts Result in Penalties
    • 414 Prohibited Transactions
    • 417 Prohibited Transactions
    • 417 Prohibited Transactions
    • 421 Exempt Transactions
    • 421 Exempt Transactions
    • 424 Investment in Collectibles
    • 424 Investment in Collectibles
    • 427 Excess Contributions
    • 427 Excess Contributions
    • 434 Reporting Additional Taxes
    • 434 Reporting Additional Taxes
    • Accounting Comic Break
  • 3
    Roth (IRAs) - Roth Individual Retirement Account
    • 505 Roth IRA Introduction & Reminders
    • 505 Roth IRAs Introduction
    • 510 What Is a Roth IRA
    • 510 What Is a Roth IRA
    • 514 Can You Contribute to
    • 514 Can You Contribute to a Roth IRA
    • 517 How Much Can Be Contributed
    • 517 How Much Can Be Contributed
    • 521 Table Effect of Modified AGI on Roth IRA Contribution
    • 521 Table Effect of Modified AGI on Roth IRA Contribution
    • 524 When Can You Make Contributions & What if You Contribut Too Much
    • 524 When Can You Make Contributions & What if You Contribute Too Much
    • 527 Can You Move AmountsInto a Roth IRA
    • 527 Can You Move Amounts Into a Roth IRA
    • Accounting Comic Break
  • 4
    Retirement Savings Contributions Credit
    • 610 Whats New & Introduction
    • 610 Contributions Credit What’s New & Introduction
    • 615 Can you claim the credit
    • 615 Contributions Credit Can you claim the credit
    • Accounting Comic Break

Meet your instructor!

Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI


Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.  

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).  

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.  

In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.  

Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.  

Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.  

Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.  

Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.  

The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.

Take this course today!

"Individual Retirement Accounts (IRAs) & Taxes 2018"

Bundle including this course!