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Course Details

Fast Track Retirement Planning - Mini Course (Course Id 244)

Updated / QAS / Registry / EA
  Add to Cart 
Author : Danny C Santucci, JD
Course Length : Pages: 36 ||| Review Questions: 15 ||| Final Exam Questions: 15
CPE Credits : 3.0
IRS Credits : 3
Price : $26.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents
Technical Designation: Technical
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 244

Description :

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. 

Usage Rank : 18148
Release : 2024
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 26-Mar-2024
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 244

Keywords : Taxes, Fast, Track, Retirement, Planning, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

    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 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 independence.
      3. Recall the qualifications for Social Security retirement & disability benefits, specify a clients retirement benefits, and determine the difference 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 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.
Course Contents :

Chapter 1 - Fast Track Retirement Planning



Popular Retirement Myths

Plan For 10 to 15 Retirement Years

Stay With One Company to Retire With the Best Benefits

Preserve Capital

Housing Costs Are Less

Just the Spouse and Me

Social Security Will Gap Any Savings or Pension Benefits Shortfall

Company Insurance & Medicare Will Cover Medical Bills

Retirees End Up In a Nursing Home

Defining Retirement

When Do I Want To Retire?

What Kind Of Lifestyle Do I Want?

Do I Want To Move?

Determining Retirement Costs & Income Needs


Strategies for Savings


Stay Liquid - Be Able To Get Your Money Back

Grow - Make Money on Your Money

Shelter - Get Tax Benefits

Build - Dont Spend Your Benefits

Avoid Linking - Each Investment Must Stand On Its Own

Analyze - Investigate the Investment

Social Security



Average Indexed Monthly Earnings (AIME)

Primary Insurance Amount (PIA)

Cost of Living Adjustment Using Dollar Bend Points

Adjustment for Retirement Date

Early Retirement

Effect of Late Retirement

Social Securitys Payroll Tax or FICA - 3111 & 3121


Covered Earnings

Multiple Employers

Covered Employment


Total Disability Benefits

Family Members




Survivors Benefits



Who Is Eligible For Hospital Insurance (Part A)?

Who Can Get Medical Insurance (Part B)?

Prescription Drug Coverage (Part D)

How Do You Get Medicare?

What Does Medicare Pay For?

What Medicare Does Not Pay For?

Medigap Insurance

Retirement Plans

Sources of Retirement Income

Qualified Corporate Programs

Defined Contribution Plans

Profit-Sharing Plan

Money Purchase Pension Plan

Stock Bonus Plan

Employee Stock Ownership Plan

401(k) Plan

Defined Benefit

Defined Benefit Pension

Annuity Plan


Self-Employed Plans

Individual Retirement Accounts

Penalty-Free Withdrawals

Roth IRA - 408A

Tax-Deferred Annuities


Simplified Employee Pension (SEP) Plan

Investment Assets

Ultimate Question

Participant Loan Regulations

Additional Loan Requirements

Distributions from Retirement Plans

Annuity Payments - 72

Mandatory Basis Rule

Annuity Benefits Paid Over Two Lives

Withholding & Estimated Tax

Lump-Sum Distributions

Employer Securities - Net Unrealized Appreciation (NUA)

Capital Gain Treatment


Eligible Rollover Distributions

20% Withholding


Direct Rollover

Rollover Period

Annual Usage

Qualified Domestic Relations Order Rollover

Premature Distributions - 10% Penalty


Required Distributions

Required Beginning Date for Minimum Distributions

Minimum Distribution Rules

Nonqualified Deferred Compensation

Contractual Arrangement

Tax Status

Unfunded Bare Contractual Promise Plan - Type I

Funded Company Account Plan - Type II

Segregated Asset Plan - Type III

Life Insurance

Income Tax

Estate Taxes

Types of Life Insurance

Term Insurance

Whole Life (Permanent) Insurance

Life Insurance Trust

Estate Planning

Simple Will

Applicable Exclusion

Portability Deceased Spousal Unused Exclusion Amount

Danger for Larger Estates


Living A-B Revocable Trust

Living A-B-C (QTIP) Trust

Impact of Spousal Portability on Trust B under TUIRJCA



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