SSRB
SOCIAL SECURITY, MEDICARE, AND PRESCRIPTION DRUG RETIREMENT BENEFITS: WHAT EVERY BABY BOOMER NEEDS TO KNOW NOW

As the baby boomer generation approaches retirement, financial and tax planners can expect increased demand for strategies that dovetail Social Security with other retirement objectives. This course provides tax and financial planning professionals with both the background information on the Social Security system and the strategies clients will need in dealing with it.

Major topics include:

• Retirement benefits: What the amount of benefits is 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?
• Hiring the spouse: When is it effective?
• Disability benefits
• Going on Social Security: advantages and disadvantages at ages 62, 65, and 70
• 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?
• Government employees: the non-Social Security system
• Medicare and Part D prescription drugs: what the retiree needs to know

Designed for: Practitioners who have baby boomer clients with significant wages or earned income.

Level of knowledge: Basic

Field of study: Taxes