Best Practices in Not-for-Profit Accounting and Reporting

Overview

You could pay $0 for this course!
This course gives CPAs the knowledge to help their clients plan for retirement by evaluating how much retirement income will be required and strategizing about how to reach retirement goals.

Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course to be eligible. The course code for this program is C-12969. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

Retirement planning using variables such as desired lifestyle, travel plans, housing plans, medical needs, and family needs to customize a retirement plan unique to the client Using a residence and other real estate as retirement assets through equity and rent Using a small business as a retirement resource through creative retirement plans Overview of asset allocation, portfolio management, portfolio rebalancing, and investment selection concepts, before and after retirement The three-legged retirement stool: employer retirement, savings, and Social Security Planning with the new retirement provisions of SECURE Act 2.0 Updates introduced by the One Big Beautiful Bill Act Distribution/asset liquidation planning Analysis of the most current/important research on retirement planning and sustaining retirement income levels

Designed For

CPAs looking to advise clients on retirement planning, and CPAs looking for effective strategies for their own retirement

Objectives

Help clients determine how much retirement income is necessary for the desired retirement lifestyle Identify resources available for retirement Explain how budgeting can determine retirement resources Understand how to build the three-legged retirement stool through employer retirement, savings, and Social Security Understand the need for Plan B when the ideal retirement goal is not achievable Explain ways that clients can convert the equity in a home to retirement income Explain how the value of a small business can be converted to retirement income Explain survival possibilities and how first-to-die and last-to-die survival probabilities are used in retirement planning for married couples Understand timing regarding the use of taxable retirement funds and nontaxable funds, as well as strategies to minimize income tax on Social Security Recognize the role of various investment types, such as life insurance, annuities, mutual funds, equity holdings, and bonds in retirement planning Summarize key points of recent research on the sustainability of retirement income and maintenance of desired retirement lifestyles