This course gives CPAs the knowledge to help their clients plan for retirement by evaluating how much retirement income they will require and planning for how to reach their retirement goals.
Retirement planning using variables such as desired lifestyle, travel plans, housing plans, medical needs and family needs to customize a retirement plan unique to the client. Using the residence and other real estate as retirement assets through equity and rent. Using the small business as a retirement resource through creative retirement plans. Asset allocation, portfolio management, portfolio rebalancing, and investment selection concepts, before and after retirement. Developing a three-legged retirement stool of employer retirement, savings, and Social Security. Distribution/asset liquidation planning. Analysis of the most current/important research on retirement planning and sustaining retirement income levels.
Basic knowledge of retirement planning
Help clients determine how much retirement income is necessary for the desired retirement lifestyle. Identify resources available for retirement. Explain how budgeting can identify retirement resources. Understand how to build the three-legged retirement stool: employer retirement, savings, and Social Security. Develop Plan B when the ideal retirement goal is not achievable. Explain ways that clients can convert the equity in a home to retirement income. Explain how the value of a small business can be converted to retirement income. Explain survival possibilities and how first-to-die and last-to-die survival probabilities are used in retirement planning for married couples. Understand timing regarding the use of taxable retirement funds and nontaxable funds and strategies to minimize income tax on Social Security. Recognize the role of various investment types, such as life insurance, annuities, mutual funds, equity holdings, and bonds in retirement planning. Summarize key points of recent research on the sustainability of retirement income and maintenance of desired retirement lifestyles.
Mike Frost, CPA, EA is an associate and shareholder of MDA Professional Group, P.C. and has been with the Albertville office since 1989. Currently a tax partner, Mike specializes in all areas of income tax and small business consulting including but not limited to: Business and individual income tax preparation and planning, estate and retirement planning, estate, gift, and trust tax preparation, small business consulting, Medicare planning and other elder care, audit representation, religious groups and clergy. Mike has conducted CPE engagements and seminars for the Alabama Society of Enrolled Agents and the Childcare Resource Network of Alabama and is an instructor for the Alabama Society of Certified Public Accountants. Mike has served as technical advisor for tax articles for the Sand Mountain Reporter newspaper, and has been a regular on the public speaking circuit. Mike also conducts in-house training in all areas of income tax for his firm. Mike graduated with “high honors and distinction” from Jacksonville State University with a major in accounting and a minor in finance and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants, the Alabama Society of Certified Public Accountants, the National Association of Enrolled Agents, the Alabama Association of Enrolled Agents, and the Accountants Global Network, International. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA. Mike is an ordained minister and pastor. He enjoys music, and is a vocalist in a local Christian band. He is also active in his community as an Albertville Rotarian. Mike resides in Albertville, Alabama with his wife, Kay, and two children, Dylan and Sarah.
Non-Member Price $349.00
Member Price $249.00