Description

In this PFP Section webcast, a tax expert discusses the tax implications and planning strategies for income sources that are often new in retirement.

This session will cover:

- Social Security benefits — Tax implications and strategies for optimizing Social Security income

- Pension income — Tax treatment of pension distributions and key planning considerations

- Required minimum distributions (RMDs) — Rules, tax impacts, and strategies for managing RMDs from retirement accounts

- Annuities — Taxation of annuity payments and strategies for managing annuity income

- IRA and 401(k) withdrawals — Tax implications and strategies for withdrawals from traditional and Roth accounts

- Part-time employment — Tax considerations for retirees who continue to work

Target Audience

- tax professionals who serve individual clients

- CPA Financial planners and other professional Financial planners

- Practitioners who provide tax, retirement, estate, investment or risk management Planning services

Course Objectives

- analyze various Types of retirement income and how they are taxed.

- apply decisions that can be made to delay or accelerate income to maximize tax brackets in specific years.

- distinguish how taxes get paid on Different income sources and how to help clients avoid surprises at tax time.

Subjects

- tax implications of retirement income sources

- Planning Strategies for retirement income

Prerequisites

Basic knowledge of financial planning, retirement planning, estate planning, tax planning and investment planning