Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits
The matter of aging in the U.S. and the tax issues that come into play cannot be ignored. The U.S. Census Bureau says one in six Americans were 65 or older in 2020, and the percentage of the population represented by seniors is expected to grow considerably. This on-demand CPE Course provides you with an overview of planning tips and techniques on elder care to help you in your practice.
This course is excluded from all subscription packages.
Topics Covered
- Planning Ahead for Longevity
- Social Security Benefits
- Tax-Advantaged Savings Vehicles
- Required Minimum Distribution Strategies
- Medical and Personal Care Costs Related to Aging
- Medicaid and Medicare
- Qualified Income Trusts
- Long-term Care Insurance
- Government Programs for Long-Term Care
- Home Sales and Reverse Mortgages
- Life insurance
- Health Care Power of Attorney
- Durable Power of Attorney
- Revocable or Irrevocable Trust
- Tax Credits Claimed by Caregivers
Learning Objectives
- Identify and apply strategies for planning ahead for elder care
- Recognize the options for paying for long-term care
- Identify the tax-related matters to be included in a durable power of attorney
- Describe true statements about Social Security
- Identify which types of trusts are suitable for someone who needs nursing home care
- Differentiate qualified retirement plans which can create tax-free income for old age
- Recognize tax breaks for health savings accounts
- Recognize how qualified charitable distributions fit into elder care planning
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
Instructor
Barbara Weltman
Barbara Weltman, JD, has written extensively on a wide variety of tax, small business, and financial planning matters for both professionals and the general public. The Wall Street Journal called her “the guru of small business taxes.” She is the author of a number of self-study programs for CCH. She is publisher of Big Ideas for Small Business® and Idea of the Day® found at www.BigIdeasForSmallBusiness.com and is a guest blogger for the SCORE and many other sites. Ms. Weltman is a graduate of Brooklyn Law School.