The Ultimate Guide to Retirement Planning

Course Description:

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 financial aspects of retirement. Designed to improve the quality of services to clients and the profitability of engagements, this program 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.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

   ·     Identify short-term financial goals and investment purposes, recognize the importance of defining prioritized realistic goals noting how investing allocation changes with age.

·        Determine the tax consequences of title holding methods.

·     Identify money management noting income types, recognize causes of increased taxable income for itemizing taxpayers, and specify taxable income types and their proper reporting.

·        Specify ways to shelter income noting how income sheltering amplifies investment return.

·         Recognize employer deductions as a means to increase tax-free incentive-based compensation for employees