- Credits: 3
- Format: Self-Study eBook
- Field of Study: Federal Tax Law
- Author/Speaker: Danny Santucci
General understanding of federal income taxation
|Course ID:||EWTFM-T-01976-22-S | 6233-CE-0665 | DS-220.22|
|Published Date:||Feb 2022|
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.
After reading the course material, you will be able to:
- Identify the basic guidelines of retirement planning recognize 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)
- Other Tax Return Preparer (OTRP)