Seniors face issues that complicate return preparation and planning. For example, when should they apply for social security? How is it taxed? What if they continue to work? Will an increased standard deduction affect charitable planning? What about downsizing? How can they help children or grandchildren pay for a home or a college education?
Learning Objectives
• Recognize the tax planning changes affecting Seniors
• Determine how retirement distribution requirements can impact the overall retirement strategy
• Identify alternatives to achieve family objectives
Major Topics
• Income for seniors: from earnings and investments
• Tax Deductions: planning, bunching, strategies
• Effect of income tax strategies on an estate plan
• Planning to help family members
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