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Savvy Social Security Planning: All You Need To Know About Social Security Claiming Strategies

  • ACCT/BK
  • CRTP
  • CFP (US)
  • CPA (US)
  • EA
  • ORTP
  • CPA/PFS
  • ChFC
  • CSA
  • Maryland Tax Prep.
  • ERPA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CFIRS
  • CWS

Published: January, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Baby boomers want to know:
    2 mins
  • Full Retirement Age (FRA)
    12 mins
  • Breakeven Analysis if Benefits are Invested
    19 mins
  • Impact of delayed benefits
    27 mins
  • Divorced-spouse benefits
    38 mins

Course Description

Social Security can be far more complicated than people realize. The decisions your clients make now can have a tremendous impact on the total amount of benefits they receive over their lifetime.

Financial and tax planners can expect increased demand for strategies that dovetail Social Security with other retirement and estate planning 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 Social Security.  This one-hour workshop will acquaint CPAs and attorneys with rules and strategies for claiming Social Security benefits. An emphasis will be placed on coordinating the various types of benefits (retirement, spousal, and survivor) in order to maximize benefits over a client’s lifetime.

Key topics:

  • How Social Security benefits are calculated.
  • Factors clients need to consider when deciding when to apply for benefits.
  • Illustrations of lifetime income streams based on claiming ages and breakeven analyses.
  • Innovative spousal claiming strategies designed to give clients extra income.
  • How widows and widowers can coordinate survivor benefits with their own retirement benefit to maximize income
  • Ways to minimize taxes on Social Security benefits
  • How to coordinate Social Security with other sources of retirement income

Learning Objectives

  • To identify who is entitled to retirement benefits and in what amounts
  • To summarize the factors to be considered while determining when to take benefits
  • To discuss the taxation of Social Security benefits and how this impacts other income tax planning
  • To identify and describe the potential effects of retirement and estate planning strategies

Who Should Attend?

  • Certified Financial Planner
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Financial Planner
  • Personal Financial Specialist (PFS)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros

Course Qualification

Webinar Qualifies For

  • 1 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00376-21-S)
  • 1 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 1 CE Credit for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0374)
  • 1 CPE Credit for Financial Services Certified Professional (FSCP)
  • 1 CPD Credit for Personal Financial Specialist (PFS)
  • 1 CPE Credit for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 1 CE Credit of Tax Planning for Certified Financial Planner (US) (Approval No. 290751)
  • 1 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00376-21-S)
  • 1 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00376-21-S)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookkeeper (ACCT./BK)
  • 1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01147-22-S)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Daven Sharma

Certified Public Accountant (CPA), Abundance Advise

DAVEN SHARMA is a recognized Educator, Author, Speaker, and CEO of Abundance Advisers, a Bay Area financial planning and wealth management firm.

“Our proprietary system 7-Steps to Financial Abundance is a holistic approach to financial planning.  We first understand our clients’ goals and timeline and then build customized solutions around them.  It is not about getting the highest rate of return; it is about attaining those lifetime financial goals,” Daven says.

Daven earned his BS in Accounting from the University of Delhi, India.  After migrating to United States in 1985, he earned CPA and CFP® designations.  In 2016, he founded Academy of Financial Planning, a non-profit organization devoted to providing free financial education to all, as he believes that everyone deserves an opportunity to be financially independent.

Daven lives in Dublin, CA and enjoys reading and travel in addition to spending time with his family and a rescued puppy Lilah.

About Company

Abundance Advise

www.abundanceadvisers.com/

Abundance Advisors was founded with the goal of assisting our clients in every aspect of their financial lives. We’ve provided the most personal service available, thus earning a reputation for excellence in our industry. For each of our clients we strive to help create financial stability and security to provide financial independence.

Our Commitment

Our staff consists of experienced professionals with a “hands on” approach to financial guidance. Not only do clients find our team members knowledgeable, but they also discover that our staff truly cares about making their dreams a reality. We do everything in our power to keep our clients focused on where they want to go, advise them on how to get there, and continually remind them of the importance of maintaining a disciplined approach to realizing their dreams.

Our Principle

Our company is based on the principle that education and understanding of one’s current financial situation is vital to successfully make prudent decisions concerning one’s future financial condition.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.3

68 Ratings

Excellent

30

Very Good

30

Average

8

Poor

0

Terrible

0

CB

Chris Bell, CFP (US)

Mar 24th, 2022

jkl

ER

Edmund Ricker, CFP (US), EA

Nov 16th, 2021

Great webinar! Very informative and many examples were provided to explain concepts.

FC

Francis Celona, CFP (US), CPA (US)

Oct 25th, 2021

This is the best presentation I have ever seen on this topic.

LM

Laura Mcnutt

Sep 22nd, 2021

Instructor was good, materials clear and succinct for a complicated topic.

CC

Charles Chalfant, CPA (US)

Mar 29th, 2021

The course was informative and gave examples to mindful of in working with clients who gave questions regarding applying for their claim.

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