NEW COURSE: Social Security Planning for Retirement and Income Taxation
Three Hours General Insurance CE
Instructor: Timothy M. Fitzgerald, CFP®, CLU®, ChFC®, MBA, Enrolled Agent
This course will provide a review of the Social Security System including the history of the system, how benefits are calculated, what benefits are available-including retirement, survivor, disability, and Medicare benefits. To understand the system, it is important to know how the system is funded along with the long stability of the system. We will look at potential solutions to the long-term stability of the system. Understanding when benefits can be applied for, advantages of waiting to apply and consequences of applying early in the planning process for clients is important. We will discuss how to maximize benefits while considering tax issues. Modified Adjust Gross Income is important to understand when it comes to taxation so we will review how it is calculated. The effect of other income and assets in retirement can affect much Social Security can be subject to income. Through case studies we will review the effects the Social Security can have on a client’s overall tax situation and options of using other income sources in retirement income planning. Also, a review of typical retirement assets and effects of these assets on overall tax bill. This course is for three of General Insurance CE credits.
