We’ve created an online training program that delivers all the benefits of live training—without the time constraints.
Step one: Read the code. This is your initial exposure to the rules. In this step, you will familiarize yourself with relevant code sections by skimming them. Here, you, the student, identify key terms and concepts critical for building your foundational knowledge.
Step two: As with most long and complicated tasks, your second step is to break the rules into small, manageable chunks.
Fortunately, the drafters of the law have done much of the work for us. By concentrating on paragraphs, subparagraphs, clauses, and subclauses, you can dissect the code sections into smaller, manageable parts. This simplifies information, making it less overwhelming and easier to grasp.
Step three: Read the Regulations and Notices issued by the IRS. IRS Notices, in particular, help by providing additional context and real-world examples, which are important for cementing your basic understanding.
Step four: Consult Commentaries. Learning small business retirement plans will require your engaging with expert commentary to gain insights into the interpretation and real-world application of the complex code sections, particularly those focusing on IRA-based retirement plans.
The Intermediate Level.
Step five:
Objective: Create a mind map to understand structure and relationships.
Benefit: Helps comprehend the hierarchical and logical flow of the code.
Step six:
Visualize - Organize with a mind map.
A mind map can synthesize and connect different code parts, clarifying overall structure and relationships.
The Expert Level
The Expert Level is achieved through repetition and engagement.
Step seven:
Tax rules will solidify through flashcards. The objective is to use flashcards for review. This aids in memorizing concepts and ensures quick recall, reinforcing knowledge.
Step eight:
Consolidate with the spaced repetition technique. You will implement spaced repetition for long-term retention.
Spaced repetition enhances memory retention by systematically revisiting information.
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Tips, Tricks & Techniques by IRAFlashcard
This ebook is one of IRAFlashcard’s recent publications available as a free download. Inside of this ebook, you will learn:
- SIMPLE IRA
- SEP IRA
- Tax reduction
