Social Security Basics and Strategies for Maximizing Benefits 2024

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  • Date/Time
    • Dec 11, 2024
    • Sign In: 8:30am (MT)
    • Program: 9:00am - 4:30pm (MT)
    • Add to Calendar
  • Location
    • Your Computer
      Your Space
      ISCPA / CalCPE Webinar, ID 00000
  • Credits
    • 8.00
  • Credit Type(s)
    • Taxes (Technical) (8.00)
  • Prerequisites
    • None

  • Vendor
    • California CPA Education Foundation
  • Level
    • Basic
  • Fields of Study
    • Taxes

Description

Though many clients see Social Security as a government benefit, it is a covered worker's investment asset to be managed like any other asset. Examine issues like how Social Security benefits are calculated, identifying benefit-claiming strategies, and what spouses can do now to maximize benefits at retirement. You'll learn how Social Security works and explore common planning situations-including workers with and without spouses, sandwich-generation families with dependent parents and minor children, and surviving and/or divorced spouses-and techniques to maximize your clients' benefits.

  • Presenters - James Randall Gardner
  • Designed For

    Designed For: CPAs, financial advisers, attorneys, insurance and other professionals.
  • Role Level - Entry-level/Individual contributor; Manager/Senior Manager; Sole Practitioner
  • Objectives

    • Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients' benefits
    • Recognize the language and forms of the Social Security Administration
    • Outline the earnings test and other drawbacks to drawing benefits early and how to plan around them
    • Determine which planning products to use to calculate the best strategy for your clients

    Highlights

    • Social Security planning, benefit calculation, and beneficiaries
    • Recent changes to "file and suspend" and "restricted application" strategies
    • Increasing benefits for self-employed individuals
    • Planning for surviving spouses
    • Integrating retirement plan distribution strategies with Social Security claiming strategies
    • Coordinating drawing Social Security benefits with the start of Medicare benefits, including a discussion of IRMAA

    Advanced Prep

    None

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    Leaders

    CALCPE Panel

    No Biography Available

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