August 14, 2018


In-Person

City of Pelham Pelham Civic Complex


8 Total CPE Credits

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Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know Now

  • Instructor

    Michael Frost

Learning Objectives

  • 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

Major Topics

  • Legislative developments
  • A full chapter devoted to determining the best planning options for maximizing joint Social Security benefits
  • Retirement benefits: Amount of benefits in various circumstances; how the amounts are distributed within the family unit
  • Qualification: Has the client retired? How business entities may be used for Social Security advantage
  • Income taxation of Social Security: avoidance tactics
  • Spousal benefits: Should a spouse return to work? What benefits does a spouse have and when and how do they relate to benefits decisions by the client?
  • Hiring the spouse: When is it effective?
  • Disability benefits
  • Social Security advantages & disadvantages at ages 62, 66, 70
  • Coordinating benefits: Should you take Social Security first and higher-balance IRA distributions later, or take IRA balances first and enhanced Social Security benefits later?
  • Pensions: Distribution strategies; how to use the minimum distribution rules in concert with Social Security benefits
  • IRAs: Is it time to convert to a Roth?
  • Medicare, Part D prescription drugs: what retirees need to know

CPE Credits Available

8
Total CPE
8
Taxes

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Tax

Prerequisites

None

Advanced Preparation

None

Intended Audience

Practitioners who have baby boomer clients with significant wages or earned income.

Provider

Surgent McCoy CPE

This event has ended.