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Thursday, December 2, 2021 Live Webcast

Social Security and Medicare: Planning for You and Your Clients (X1-SSRB-2021-01-WEBNR-336-01)

9:00 AM - 5:00 PM EST
webcast

Vendor Platform

8 CPE Credits in TX

OVERVIEW

Social Security seems poised for changes in benefits and eligibility age. This course provides tax and financial planning professionals with the background information on the Social Security system, strategies clients will need in dealing with Social Security and myriad other retirement-related planning issues.

DESIGNED FOR

Practitioners who have clients contemplating receipt of Social Security

BENEFITS

  • 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
  • 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

HIGHLIGHTS

  • 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?
  • When can hiring the spouse increase overall benefits?  Why should both spouses qualify for survivor benefits?
  • Disability benefits
  • When to start Social Security benefits: Advantages and disadvantages at age 62, full retirement age and age 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 and Part D prescription drugs: what retirees need to know

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for CFP credit

INSTRUCTOR

Michael Frost

Michael A. Frost, CPA, EA

Michael A. Frost, CPA, EA Mike Frost, CPA, of Jacksonville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 31 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy. Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa. Mike graduated with "high honors and distinction" from Jacksonville State University with a major in accounting, a minor in finance, and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.