The Ultimate Guide to Retirement Planning ON DEMAND

Overview

We are all (including tax practitioners) getting older, and the need for effective retirement planning has never been greater. This course is essential for participants who wish to attain a comfortable retirement for themselves and their clients by maximizing tax-saving strategies. This presentation integrates federal taxation with retirement planning. The course will examine tax and savings strategies related to determining retirement income needs, wealth building, capital preservation, and estate distribution. The result is a unified explanation of tax economics that will permit the tax professional to locate, analyze, and solve the financial aspects of retirement. Designed to improve the quality of services to clients and the profitability of engagements, this program projects the accountant into the world of retirement planning. This course will give the participant practice in analyzing problems, developing solutions, and presenting final personal retirement plans to clients. The emphasis is on practical simplicity in dealing with the self-employed and highly compensated individual. Retirement income needs are calculated; net after-tax Social Security benefits are determined, and distribution options from IRAs and retirement plans are explored. Special consideration is given to the tax treatment of the home and business on retirement. Buy-sell agreements are discussed and eldercare planning is examined.

Highlights

Financial Tax Planning. Building an Estate. Preservation of Wealth. Deferral. Reduction. Income Splitting. Elimination. Asset Protection. Retirement Planning. Social Security Benefits and Retirement Planning. Retirement Plans. Distributions from Retirement Plans. Nonqualified Plans. Life Insurance, Annuities, and Buy-Sell Agreements. Home Sales and Moving Expenses. Estate Planning.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

Identify short-term financial goals and investment purposes, recognize the importance of defining prioritized realistic goals stating how investing allocation changes with age. Determine the tax consequences of title holding methods. Identify money management specifying income types, recognize causes of increased taxable income for itemizing taxpayers, and specify taxable income types and their proper reporting. Determine the distinctions between tax-free municipal bonds from fringe benefits in generating tax-free income, cite the benefits of tax deferral, and identify tax-deferred investments. Specify ways to shelter income stating how income sheltering amplifies investment return. Recognize the budgeting of income into cash by containing expenditures with the author’s step process and discretionary income development, identify a client’s negative outlook on budgeting and counter strategies, determine how to convert income into assets by purchasing investments, and specify asset acquisition rules. Specify tax-advantaged investments citing management rules, and determine the economic impact of accelerating deductions, postponing tax liability, and leveraging, and more.

Preparation

None.

Notice

None.