- Credits: 3
- Format: Self-Study eBook
- Field of Study: Federal Tax Law
- Author/Speaker: Danny Santucci, CPA
|Course ID:||Advanced Preparation:||Experience Level:|
|EWTFM-T-01733-21-S | 6233-CE-0457||None||Overview|
|Published Date:||Program Prerequisites:||Other Course Formats:|
|© February 2021||Basic Understanding of Taxes||Self-Study eBook|
We are all (including tax practitioners) getting older, and the need for effective retirement planning has never been greater. This mini-course is essential for participants who wish to attain a comfortable retirement for themselves and their clients by maximizing tax-saving strategies. Retirement income needs are analyzed; Social Security benefits are determined, and distribution options from IRAs and retirement plans are explored.
- Popular retirement myths
- Defining retirement & determining retirement income needs
- Social Security
- Retirement plans
- Distributions from retirement plans
- Nonqualified deferred compensation
- Life insurance
- Estate planning
After reading the course material, you will be able to:
- Identify the basic guidelines of retirement planning recognizing the ten misconceptions of retirement, and specify retirement based on key questions.
- Determine retirement costs and income needs of clients based on their current budget, select tax savings strategies, and identify basic guidelines to use when purchasing assets to attain financial independence.
- Recall the qualifications for Social Security retirement & disability benefits, specify a client’s retirement benefits, and determine the difference between Medicare Part A and Medicare Part B.
- Identify basic types of qualified corporate plans and other sources of retirement income such as SIMPLE plans and individual retirement accounts.
- Determine the difference between annuity payments and lump-sum distributions, specify key components of rollovers, premature distributions & required distributions, and identify nonqualified deferred compensation.
- Cite the benefits, uses, and types of life insurance, and specify how three basic estate planning tools can be incorporated into tax practice.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Return Preparers (TRPs)