This essential course is designed for professionals seeking to enrich their retirement planning acumen, both for themselves and their clients. Featuring in-depth analysis of retirement needs, Social Security benefits, and IRA and retirement plan distributions, this course offers substantial benefits. Participants will gain the ability to accurately determine retirement costs and income needs, select effective tax-saving strategies, and understand the intricacies of Medicare and various retirement income sources. By covering key aspects of annuities, rollovers, and estate planning tools, this course empowers tax professionals with the knowledge to navigate the retirement planning landscape confidently, ensuring a comfortable retirement for themselves and their clients.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the basic guidelines of retirement planning noting 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 noting 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.
Major Topics
Fast Track Retirement Planning
Assets
Social Security
Distributions from Retirement Plans
Estate Planning
