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Social Security Basics and Strategies for Maximizing Benefits 2024

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CalCPA Webcasts

Online, OK 00000

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8.00 Credits

Member Price $299

Non-Member Price $399

Overview

Though many clients see Social Security as a government benefit, it is a covered worker’s investment asset to be managed like any other 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. You’ll 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-and techniques to maximize your clients’ benefits.

Highlights

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

Prerequisites

None

Designed For

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

Objectives

  • Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients' benefits
  • Recognize the language and forms of the Social Security Administration
  • Outline the earnings test and other drawbacks to drawing benefits early and how to plan around them
  • Determine which planning products to use to calculate the best strategy for your clients

Preparation

None

Leader(s):

  • James Gardner, CalCPA Webcasts

Non-Member Price $399

Member Price $299