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.
Assignment
At the start of the materials, participants should identify the following topics for study:
* 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
Learning Objectives
After reading the materials, participants will be able to:
1. Identify planning guidelines for retirement recognizing timing and location factors.
2. Determine retirement costs and income needs based on their current income, select tax savings strategies, and identify investment assets to attain financial independence.
3. Recall the qualifications for Social Security retirement & disability benefits and specify adjustments to retirement benefits.
4. Identify basic types of qualified corporate plans and other sources of retirement income such as SIMPLE and stock ownership plans.
5. Determine the difference between annuity payments and lump-sum distributions, specify key components of rollovers, premature distributions & 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.
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.
Upon course completion A course evaluation form is provided for your feedback.
Participants have 1 year from the date of purchase/enrollment to complete this course
CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org