Retirement Income: Maximizing Tax Saving Strategies (3 hrs)

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Course Description

Retirement Income: Maximizing Tax Saving Strategies

This 3-hour course is essential for participants who wish to attain a comfortable retirement income 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.

Course Information

Price: $31
This course is included in our Mega CPE Subscription and our Unlimited Tax Bundle.

Course No. M170
Format: Online pdf (73 pages). Printed book available.
Instructional Delivery Method: QAS Self-Study
Prerequisites: General understanding of federal income taxation
Advance Preparation:None
Level: Overview
CPE Credit: 3 hrs.
Field of Study: Taxes: Technical
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: February 2023


Course 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

Upon completion of this course you should be able to:

1. Identify the basic guidelines of retirement planning recognizing the ten misconceptions of retirement, and specify retirement based on key questions.
2. 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 independ-ence.
3. Recall the qualifications for Social Security retirement & disability benefits, specify a client’s retirement benefits, and determine the dif-ference between Medicare Part A and Medicare Part B.
4. Identify basic types of qualified corporate plans and other sources of retirement income such as SIMPLE plans and individual retirement accounts.
5. Determine the difference between annuity payments and lump-sum distributions, specify key components of rollovers, premature distribu-tions & required distributions, and identify nonqualified deferred compensation.
6. Cite the benefits, uses, and types of life insurance, and specify how three basic estate planning tools can be incorporated into tax practice.

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