Social Security, Medicare, and Prescription Drug Retirement Benefits
Social Security seems poised for changes in benefits and eligibility age. The leading edge of the baby boomer generation has already reached retirement age. Financial and tax planners can expect increased demand for strategies that dovetail Social Security with other retirement- and estate-planning objectives. This course provides tax and financial planning professionals with both the background information on the Social Security system and the strategies clients will need in dealing with Social Security, and the myriad of all the other related retirement planning issues.
Identify who is entitled to retirement benefits and in what amounts. Identify factors to consider in determining when to take benefits. Discuss taxation of Social Security benefits and how this impacts other income tax planning. Identify and describe the potential effects of retirement and estate planning strategies and tactics that can enhance overall retirement and estate benefits by changing the “who” and “when” of the receipt of Social Security benefit payments. Explain Medicare and the prescription drug provision; describe the basic supplementary insurance plans that are available to fill in the gaps in basic Medicare coverage.
Practitioners who have baby boomer clients with significant wages or earned income.
Applicable if you are a NVCPA member in good standing.
Applicable if you are not a NVCPA member.
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