3.0 CPE This course review the following types of IRA accounts: Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. This course will also describe who is allowed to open and contribute to an IRA account during the taxable year as well as when taxpayers are permitted to take distributions from an IRA account.
Learning Objectives
- Identify the requirements for serving as a trustee for an IRA account.
- Recognize the requirements for opening a traditional IRA account.
- Recognize the maximum contribution that can be made by a taxpayer to an IRA account.
- Discover and calculate the amount of a partial deduction to an IRA account.
- Identify when a taxpayer must start receiving distribution from an IRA account.
- Discover and calculate the amount of minimum distributions from an IRA account.
- Recognize prohibited transactions for an IRA account.
- Recognize the maximum contribution that can be made by a taxpayer to a Roth IRA account.
Last updated/reviewed: Aug 07, 2024
89 Reviews (352 ratings)
Reviews
Rosie Herren
(Controller at Book and Street)
Examples were only presented verbally. Showing them in the slides were have been alot more meaningful. Also, I could not hear dollar amounts mentioned in some of the examples because they were either spliced out or recorded over so all I heard was a pause. Not great IMO. Instructor mostly read directly from the slides which is one of my pet peeves. Everyone was presented textually. Some pictoral representations would have been nice. I will probably not take another course with this instructor. Most of the info presented was adequate however.
Anonymous
(CPA)
Good coverage of the various types of IRAs. I chose this course as I've been surprised recently by both my personal financial advisor's and tax-preparing CPA's lack of foresight on filings regardging IRAs (strategic advice is plentiful, but very hard to determine what forms to file when, especially for a non-taxable transaction). I'm not a tax practitioner, but I'm hoping those that are will not only give strategic advice but also tell their clients what forms to file and when.
Anonymous
()
The instructor chose to cut in what seemed to be year over year changes in the audio rather than re-record slides and it was truly hard to listen to and follow. Additionally, there were examples of calculations and scenarios but none of the steps or numbers were included in the slides which made following the example unnecessarily difficult and confusing.
Anonymous
(Accountant)
Some of the verbal examples were not clear, audio kept cutting off, making it
difficult to follow. Also, the age for mandatory distribution has changed in ample
time for this course to have been updated with the new requirement. This course
could have been updated for new age requirement since distribution is a
significant component of this topic.
Katrina Ivancic
( at Starworks Accounting & Tax L..)
Some or your review questions had wrong answers. At 73k, a taxpayer is just under the phase out range for 2023. and can make a full contribution.
Also, an individual over age 50 can make a 7500 contribution in 2023, not 7k.
Also, it was hard to follow verbal examples. Please write these out so we can visualize them.
Cynthia Quigley
(Accountant at Steinhatchee River Club)
This would be a good course except for two deficiencies:
1. Voiceovers were done to update for changes in the current year. Some were garbled and some left out information.
2. There were no slides to assist the student in understanding the examples. That would go a long way towards retention of the knowledge.
Anonymous
()
The course has great information and good substance, but I was disappointed that the review and final exam questions had some outdated information. For example- the question was updated to 2023, but the options only included answers applicable to 2022 limits.
Anonymous
(ASSISTANT CONTROLLER)
The audio quality was not particularly good.
I could tell when updated information was spliced into the clip because there was a
noticeable pause. Additionally, the instructor seemed like he was just reading from
a prompt in a very monotone manner.
Anonymous
(Owner)
This course provided a very good overview of the different types of retirement accounts. It provided details of contribution limits, compensation limits, as well as rules for who could contribute to the particular retirement account plans.
Anonymous
(Accountant)
A lot of detail on each slide. As has been mentioned, the audio seems a little off when it is adjusted for current year numbers, but is easy enough to understand. It would have been helpful for the examples to be included on the slides.
Jeffrey Katsch
( at Ultragenyx Pharmaceutical)
Had the information needed. Could have been organized better. I had some questions come up in earlier parts that were answered later in the course e.g. how an individual could have a cost basis in a traditional IRA.
Anonymous
()
This course covers a lot of information. I think it could have been organized more effectively to cover all of a situation in one place. I felt at times the answer was in a different section than I expected.
Nafisah Fudaeel
(Owner at Tax Roadmap)
The course was very informative. It was easy to understand and the slides were easy to follow. I think the instructor could have given a few more example especially the IRA calculation examples.
Anonymous
()
I enjoyed this course and would recommend it to anyone who prepares tax returns. But at least one of the exam questions needs to be updated with the correct information for 2022.
Debra Johnson
( at Hagan & Johnson, CPA's ..)
Thorough discussion on IRA's, ROTH's, SIMPLEs, SEPS and even SAR-SEPS.
What would have improved the course would have been having it geared to 2021 and not 2020.
Keith Baker
(Data Analyst at Charter Communications)
Lots of information in this one. I wonder if it could even be broken up to cover the different retirement options to allow the learner to focus on certain ones.
Anonymous
()
This course covered all of the basics of IRAs. I started the course not knowing anything about IRAs. Now I feel like I can answer a lot of questions.
Anonymous
()
very good discussion on the basic knowledge relating to Retirement accounts: Trad IRA, Roth IRA, SEP IRA & Simple IRA. Well worth the listening.
Arleen Kearns
( at Charles Schwab)
It would be helpful to show slides when the instructor is giving an example. It is a bit challenging trying to follow when there is no visual.
Anonymous
(Controller)
This instructor organizes the material really well. Dry topic but I prefer these in-depth ones. Best comprehensive instruction in my opinion.
Peter Dovey
(Assistant Controller at DLC Group)
Good for retirement planning and updating on rules and current amounts. A bit challenging to recall some amounts, but overall a good course.
Brian Zinner
(Tax Accountant at Brian K. Zinner, CPA)
Some of the answers to the review questions were based on a different year than the scenario. Course was very informative and worthwhile.
Daniel Barakat
(Partner at DGB Tax & Accounting)
Course was great. Nice to have examples, but the examples are not displayed on the slides so they are of limited use and hard to follow.
Anonymous
()
Lots of good current information. Just wish recordings weren’t a little more interesting and less like reading straight from text.
Anonymous
()
Good information on the various types of retirement plans their benefits limitations rollover periods and plans for small employers
Reid Petty
( at National Finance Credit Corporation of T..)
I thought this was a very informative course. I learned a lot. Some was refresher, some was new. Very organized and a good layout.
Anonymous
(International Tax Manager)
Great course, very informative. I would highly recommend it as an intro to IRA. The instructor was very clear and to the point.
Anonymous
(Accounting Manager)
Thorough course. As others have said in their reviews, it's a lot of information and could be divided into separate courses.
Tyler Ellens
(Staff Acountant at Evenhouse & Co. P.C.)
This course was very informative and was presented in a way that is very easy to understand with plenty of helpful examples.
Anonymous
(FINANCIAL ANALYST)
This course gave me a lot of information for my personal accounts. I will look into other options besides a traditional IRA.
Anonymous
(Director)
The exam had old outdated data. The PDF was of little value. The video was mostly just a person reading the PDF slides
Anonymous
()
Liked this course. It is more textbook more than anything, would have liked more examples but overall good information.
Natasha Clark
(Cpa at My own)
Good course but believe the answers to questions are not accurate provided questions are based on 2023. Need to update.
Anonymous
()
Too much broken speaking. Author just changed the couple words to make applicable to 2023 but changes were not smooth.
Anonymous
(Accountant)
Interesting course. I decided to take to get a better understanding on various investing strategies. I recommend.
Anonymous
(Director - A/P)
This is a good course if you want to determine various options when looking into retirement accounts and ROTH IRAs.
Anonymous
()
I thought the the class was pretty useful. I learned about some types of retirement plans I do not see very often.
Anonymous
(CPA)
This is a fine basic overview of IRA's, but it needs to be updated. For example, the 70.5 RMD rule is now 72.
Christopher Chomic
(Director of Finance at Advanced Plumbing Technologies)
very informative, will come back to this for references. Would like for it to be updated for 2019 year though.
Anonymous
()
The handout materials are 109 pages, but could be improved if more graphics and flowcharts were utilized.
Anonymous
()
I enjoyed the subject matter. However, many figures and limits have not yet been updated for Secure 2.0.
Gregory Timms
(Consultant at Self Employeed)
Course material need to be in one file. Otherwise it was a clear presentation of the required facts.
Anonymous
()
This was a good course. I thought I knew IRAs pretty well but I still learned a lot from this course.
Colleen Windham
(CPA/Relationship Manager at Retirement Plan Solutions, Inc.)
It covered quite a bit of information, but the instructor mostly just read straight from the slides.
Anonymous
(cpa)
There are some examples he talks about that include threshold numbers, but they aren't in the slides.
Anonymous
(Accountant)
Several amounts were missing. Please include slides for the examples so it's easier to follow along.
Anonymous
()
This was a great refresher course on retirement plans. The info is concise and straight to the point
Anonymous
()
I did not enjoy this course. The instructor was hard to follow, and the examples were not helpful.
Anonymous
(Senior Accountant)
This course was instructional on how to approach taxes around 2023 Individual Retirement Accounts.
Lucas Kysely
( at Edcetera)
Good course overall. Was a great audio course that made it easy to walk and learn simultaneously.
Johanna Gierl
(SOX at Cisco)
great course, thank you for the detail. would have loved to see a more comprehensive study guide.
Brandon Bush
(Manager at PorterKinney)
Good overview especially for individuals new to the industry. Goes into good relevant strategies.
Anonymous
()
Great overview of the topic. Tough to do since it is such a large subject with a lot of minutia.
Anonymous
()
The course was good but it would be nice to have a PDF with more detail than a glossary/index.
Anonymous
(*)
Good detail and overview of these topics. Definitely a lot of info packed into this course!
Anonymous
()
Very informative, would be great if scenarios were written out (easier to follow and notate)
Anonymous
()
Dull voice, odd voice-over changes from prior year, examples should be included in slides.
Edmund Placzkowski
(Director of Tax and Accounting at My Local CFO)
Fantastic comprehensive course on retirement accounts and the tax changes for current year.
Anonymous
(CFO)
Very detailed outline of different retirement account options and qualifications for each.
David Fisher
(Associate at YPTC)
Presentation was clear and concise. Supporting material was relevant and well-organized.
Anonymous
(-)
Learned several new items about IRAs, but thought the material was a little confusing.
Sara Pappas
( at Self Employed)
Well presented in-depth analysis of all things retirement. Clear and understandable.
Bryan Lai
(Senior FP&A Analyst at Yelp)
Great course. Loved learning about the different retirement accounts. Would recommend
Lisa Sexten
( at Sexten)
Examples in the presentation did not have slides which made them difficult to follow
Anonymous
(Financial Reporting Manager)
Informative, but the presenter just reads from the slides. Could be more engaging.
Anonymous
(Associate)
The examples would be better if written out. It is hard to catch by just listening.
Matt Paul
( at Boulder Ventures)
Illustrative examples of some of the calculations may be helpful in the slide deck.
Danny Witt
(Sr. Financial Analyst at XXX)
Totally cool IRA tips and tricks. Take this course to win the day. You can do it!
Anonymous
(SVP Corp Compliance & Accounting)
Great course. i look forward to applying what ive learned to my family's needs.
Anonymous
(Finance Director)
Great intro course to retirement plans. Ton of good information in the slides.
John Clifton
(President at Owl Creek Holdings)
Good topic and presentation of useful information that any CPA should know.
Anonymous
(Accountant)
Great course, clear and concise, would recommend others to take this course
Anonymous
()
Great course and very helpful regarding a topic that has always confused me
Anonymous
(Accounting Manager)
It would be beneficial to release the wrong answers for the final exam.
Anonymous
(Bonding Manager)
Concise and clear presentation of 2024 individual retirement accounts.
Michael Fairchild
(Retired at Retired)
Information and questions are in relation to 2018 IRS regs and filings
Jeff Bone
(Chief Growth Officer at Northwestern Mutual)
Great course, thank you very much! Great content and review.
-Jeff
Anonymous
(-)
Would have liked to seen examples rather than just hear about them.
Anonymous
()
This course was valuable on both a personal and professional level.
Anonymous
(Finance Manager)
Great course - would recommend to anyone interested in the topic.
Anonymous
()
Pretty good overview of the retirement plan system. good course.
Brent Trask
(VP, Transactional Accounting at Charter Communications)
It was a very factual course and presented straight forward.
Anonymous
(Senior Accountant)
Would be beneficial to include written copy to the examples
Evan McClelland
(Controller at Promanas)
excellent questions and up to date with current regulations
Darcelle Carter
( at Darcelle Carter CPA)
Exam question 15 does not have correct answer as an option
Brian Pelinski
(CPA at N/A)
go information. A bit long and could use some nicer tables
Anonymous
(CPA)
EXCELLENT OVERVIEW OF COMPLICATED IRAS AND RELATED TOPICS
Karla Kerce
( at The Merit Group, LLC)
I would have liked to had a worksheet for the examples.
Alice Jeanna Yu
(title at bank)
helpful, useful, organized, well presented information
Prerequisites
Knowledge Level: Basic
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Course Questions and Answers( Questions)
Andrew ClarkInstructor
About Illumeo
Platform
Resources
Contact Us
- Email: info@illumeo.com
- Phone: 408-400-3993
- Adress: 1608 W Campbell
- Av #221, Campbell, CA 95008
© 2025 Illumeo, Inc.
Slides for the examples would have been helpful. There were many blanks in the narrative where years and/or dollar amounts were supposed to have been inserted for the current year but were not.
I think a couple of the questions dollar amounts might need to be updated as they indicated 2024 but referenced 2023 amounts. (SEP IRA for 2024 is $69k not $66k)