Chattanooga Account Fest: Securing a Comfortable Retirement
461 | Course | Intermediate | Scheduled
Description
This course gives CPAs the knowledge to help their clients plan for retirement by evaluating how much retirement income they will require and planning for how to reach their retirement goals.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 2.00 | Taxes |
| 2.00 | Specialized Knowledge |
| 3.33 | CLE |
Designed For
CPAs looking to advise clients on retirement planning, and CPAs looking for effective strategies for their own retirement
Prerequisites
Basic knowledge of retirement planning
Highlights
- Retirement planning using variables such as desired lifestyle, travel plans, housing plans, medical needs and family needs to customize a retirement plan unique to the client
- Using the residence and other real estate as retirement assets through equity and rent
- Using the small business as a retirement resource through creative retirement plans, non-qualified deferred compensation and converting the value of the business through sales within the family or to an outside party
- An overview of portfolio management for retirees, including: sustainable portfolio withdrawal rates; balancing investments between income and equity, and taxable and nontaxable; and asset liquidation and distribution timing to minimize the tax impact of retirement distributions and maximize cash flow from retirement vehicles and Social Security
- Developing a three-legged retirement stool of employer retirement, savings, and Social Security, and timing the use of the legs of the stool to maximize after tax retirement benefits
- Analysis of the most current/important research on retirement planning and sustaining retirement income levels and lifestyles and the impact of the most recent tax laws, regulations, and rulings
- Planning with the new retirement provisions of SECURE Act 2.0
Objectives
- Help clients determine how much retirement income is necessary for the desired retirement lifestyle
- Identify resources available for retirement
- Understand how to build the three-legged retirement stool: employer retirement, savings, and Social Security
- Develop Plan B when the ideal retirement goal is not achievable
- Explain ways that clients can convert the equity in a home to retirement income
- Explain how the value of a small business can be converted to retirement income
- Explain survival possibilities and how first-to-die and last-to-die survival probabilities are used in retirement planning for married couples
- Understand timing regarding the use of taxable retirement funds and nontaxable funds, and strategies to minimize income tax on Social Security
- Recognize the role of various investment types, such as life insurance, annuities, mutual funds, equity holdings, and bonds in retirement planning
- Summarize key points of recent research on the sustainability of retirement income and maintenance of desired retirement lifestyles
Prices
- Member (Early Bird)
- $179.00
- Non-Member (Early Bird)
- $229.00
- Member
- $229.00
- Non-Member
- $279.00
Instructors
William F. Taylor, CPA
Bill is President of Benefit Solutions, Ltd., a benefit consulting firm, and a CPA in private practice. Since retiring as Community Bank President of Renasant Bank in Water Valley, MS. he has served as an Adjunct Assistant Professor in the MBA program at the University of Mississippi. Bill has worked in the employee benefit and investment fields for over 20 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS office of KPMG Peat Marwick and managing his own firm since 1999.
A nationally known consultant and speaker, Bill has conducted seminars for the Association of International Certified Professional Accountants, the American Society of Pension Professionals and Actuaries, more than 40 state CPA and Bar associations and other organizations. Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications. Bill has been the recipient of the Association's Outstanding Facilitator Award on multiple occasions.
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