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Author: |
Danny C Santucci, JD |
Course Length: |
Pages: 36 ||| Word Count: 16,646 ||| Review Questions: 15 ||| Final Exam Questions: 15 |
CPE Credits: |
3.0 |
IRS Credits: |
3 |
Price: |
$26.95 |
Passing Score: |
70% |
Course Type: |
Text - IRS Enrolled Agents |
Technical Designation: |
Technical |
Field Of Study: |
Taxes |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This mini course helps tax practitioners and their clients attain a comfortable retirement by maximizing tax saving strategies.
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Frequently Asked Questions: |
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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: |
17200 |
Release: |
2008 |
Version: |
1.0 |
Prerequisites: |
General understanding of federal income taxation. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: Individual Retirement Accounts | IRA Rule
Internal: Retirement Plan Overview | Tax Mini‑Course
External: IRS - Are My Social Security or Railroad Retirement Tier I Benefits Taxable?
External: Retirement Planning
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
15-Jul-2026 |
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. |
Keywords: |
Fast Track Retirement Planning - Mini Course - CPE course for CPAs |
Learning Objectives: |
Learning Assignment & Objectives As a result of studying the assigned materials, you should be able to meet the objectives listed below. 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. |
Course Contents: |
Chapter 1 - Fast Track Retirement Planning Introduction 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 Savings Strategies for Savings Assets Stay Liquid - Be Able To Get Your Money Back Grow - Make Money on Your Money Shelter - Get Tax Benefits Build - Don’t Spend Your Benefits Avoid Linking - Each Investment Must Stand On Its Own Analyze - Investigate the Investment Social Security Qualification Calculation 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 Security’s Payroll Tax or FICA - §3111 & §3121 Rates Covered Earnings Multiple Employers Covered Employment Self-Employment Total Disability Benefits Family Members HIV & AIDS Children Qualification Survivors Benefits Divorce Medicare 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 SIMPLE Plans Self-Employed Plans Individual Retirement Accounts Penalty-Free Withdrawals Roth IRA - §408A Tax-Deferred Annuities Mechanics 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 Rollovers Eligible Rollover Distributions 20% Withholding Exceptions Direct Rollover Rollover Period Annual Usage Qualified Domestic Relations Order Rollover Premature Distributions - 10% Penalty Exemptions 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 Probate Living “A-B” Revocable Trust Living “A-B-C” (QTIP) Trust Impact of Spousal Portability on Trust B under TUIRJCA Glossary |
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