Social Security Basics and Strategies for Maximizing Benefits

Description

Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients' benefits. Though many clients look at Social Security as a government benefit, it is actually a covered worker's investment asset to be managed like any other investment asset. Examine issues like how Social Security benefits are calculated, identifying benefit-claiming strategies, and what spouses can do now to maximize benefits at retirement. Learn how Social Security works and explore common planning situations, including workers with and without spouses; sandwich generation families with dependent parents and minor children; and surviving and/or divorced spouses.

Highlights

• Social Security planning, benefit calculation, and beneficiaries.
• Recent changes to "file and suspend" and "restricted application" strategies.
• Increasing benefits for self-employed individuals.
• Plan for surviving spouses.
• Integrating retirement plan distribution strategies with Social Security claiming strategies.
• Coordinating drawing Social Security benefits with the start of Medicare benefits.

Objectives

• Recognize how to increase technical skills to complete smaller audits, reviews and compilations with minimum supervision and maximum profitability.
• Identify necessary communication skills to more effectively interact with partners and client personnel, including writing better memoranda.
• Determine ways to become more adept at drafting financial statements.

Designed For

CPAs, financial advisers, attorneys, insurance, and other professionals.