We are all getting older and the need for effective retirement planning has never been greater. If your wish to attain a comfortable retirement for yourself and your clients by maximizing tax saving strategies, this course is essential. Retirement income needs are calculated, net after tax social security benefits are determined, and distribution options from IRAs and retirement plans are explored. Topics covered include life insurance, annuities, and buy-sell agreements as well as estate and eldercare planning. Special consideration is given to the tax treatment of the home and business on retirement.
Learning Objectives
- Identify federal tax revenue sources, define gross income's role, and determine a client's tax liability using current rates, exemptions, and withholding/estimated tax obligations.
- Specify the various filing statuses and their filing requirements recognizing the advantages and disadvantages of each.
- Determine gross income under 61, including tax treatment of compensation, benefits, rental income, Social Security, alimony, prizes, awards, dividends, distributions, and debt discharge.
Major Topics
- Popular retirement myths
- Defining retirement & determining retirement income needs
- Savings
- Assets
- Social Security
- Retirement plans
- Distributions from retirement plans
- Nonqualified deferred compensation
- Life insurance
- Estate planning
