Description:
This book is for preparing 2025 taxes. As taxpayers enter retirement, tax professionals can offer guidance on tax planning so their clients receive all the tax benefits available to them in their new stage of life. To assist recent retirees, this course explains the taxation of Social Security benefits and distributions from different types of retirement plans, including how to plan for required minimum distributions (RMDs). It also covers the tax consequences of long-term care insurance, as well as the deductibility of long-term care expenses in the later stages of retirement. Finally, the course wraps up by discussing the pros and cons of creating a life estate.
Topics include:
- Evaluating certain credits and deductions available to senior taxpayers
- Reporting long-term care expenses and insurance benefits
- Calculating the taxable amount of various payments received in retirement
- Outlining tax issues related to Social Security benefits
- Identifying tax benefits children may claim for elderly parents
- Summarizing the rules for RMDs
- Listing the advantages and disadvantages of life estates
Product Details:
Item Number: E25352
Level: Intermediate
Authors: NATP Staff
Published: 2025
Format: Electronic PDF - 116 pages
Nonmembers – Join Now, Save More!
Corresponding CPE Courses:
Get this e-book FREE when you purchase the corresponding 2025 course.
Purchase Info:
When purchase is complete you can obtain your product at My Downloads.
Electronic products are nonreturnable.