Tax Planning for Seniors 2024

Overview

Seniors face issues that complicate return preparation and planning. For example, when should they apply for social security? How is it taxed? What if they continue to work? Will an increased standard deduction affect charitable planning? What about downsizing? How can they help children or grandchildren pay for a home or a college education? This course will help you advise your clients on these topics and more.

Highlights

• Income for seniors: retirement, earnings and investments
• Tax Deductions: planning, bunching, strategies
• Planning to help family members

Prerequisites

Experience in individual tax preparation and planning. General knowledge of social security and other retirement vehicles.

Designed For

Staff at all levels focused on planning and financial planners recommending retirement strategies.

Objectives

• Recognize the tax planning changes affecting Seniors
• Determine how retirement distribution requirements can impact the overall retirement strategy
• Identify alternatives to achieve family objectives

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.