There are no prerequisites.

Course Description

We are all getting older and the need for effective retirement planning has never been greater. If your wish to attain a comfortable retirement for yourself and your clients by maximizing tax saving strategies, this course is essential. Retirement income needs are calculated, net after tax social security benefits are determined, and distribution options from IRAs and retirement plans are explored. Topics covered include life insurance, annuities, and buy-sell agreements as well as estate and eldercare planning. Special consideration is given to the tax treatment of the home and business on retirement.


Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known for spicing up his extensive expertise with an incredible sense of humor.

Course Specifics

Mar 28, 2017
There are no prerequisites.

Compliance Information

IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-T-00541-14-S
IRS Federal Tax Law Credits: 13
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-0563
CTEC Federal Tax Law Credits: 13
Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Name a new financial pressure unique to baby boomers
  • Specify when taxpayers should begin planning for retirement
  • Choose the number of years after retirement that should realistically be planned for
  • List a cost of taking lesser pay to remain with one company to add to a pension
  • State what will be received from the PBGC should a taxpayer's company's pension fail
  • Identify something that a person will need to do to adjust during retirement
  • Choose the percentage of baby boomers who intend to work part-time for enjoyment
  • Identify a change in spending that retirees can expect during retirement
  • Recall what percentage of a retiree's money should come from a specific funding source
  • Name the purpose of savings in a financial plan
  • Specify a key strategy for purchasing assets for retirement
  • Identify the original purpose of Social Security
  • Name one of the three levels that happen as one progresses through retirement
  • Identify a consideration when moving to a different location in retirement
  • State the basis of a financial plan to meet established retirement goals
  • Specify the percentage of current income needed to maintain one's current lifestyle in retirement
  • List a reason to maintain substantial liquid assets in retirement and what should be examined about an investment when liquidity is important
  • Name a benefit of using home equity to eliminate a consumer debt
  • Identify a way to make up for failing to save the appropriate percentage of pretax income each year
  • Choose a measure that helps to show how well invested money is working

Chapter 2

  • Identify the item paid for by over 80 cents for every dollar of Social Security spent
  • Specify the age at which individuals can qualify for Social Security benefits and why someone below the general retirement age would be collecting benefits
  • Define the measure showing the ratio of total computation years to months corresponding to those years
  • Identify the percentage of reduction per month before age 65 a spouse's benefits would be reduced if their spouse receives early retirement
  • State a response of Congress to the growing pressure on the Social Security system
  • Name a requirement for receiving Social Security disability benefits
  • List a characteristic of a Medicare Part B program
  • Choose a cost covered by Medicare medical insurance
  • Specify where Social Security funds are invested
  • List what is used to calculate AIME
  • Name the part of Social Security paid from general tax revenues

Chapter 3

  • Name a deferred tax advantage of corporate retirement plans
  • Choose the ERISA provision concerned only with qualified retirement plans and tax-deferred annuities
  • Identify a requirement of Section 401 designed to prevent retirement plan discrimination
  • List the percentage of nonforfeitable claim in a particular year of a two-to-six-year graded vesting or five-year cliff vesting schedule
  • Identify one of the requirements of a 401(k) plan
  • Specify a condition that must be met in order for a qualified plan's death benefit to be allowable
  • Name the group of workers likely to participate in a Keogh plan
  • List one condition that must be met for a trust beneficiaries to be designated beneficiaries of an IRA
  • Choose an item from a list that would not qualify as a rollover
  • Identify a condition to be met for a distribution from a Roth IRA to be tax-free
  • List a requirement of an employee that obligates an employer to make a SEP contribution on his or her behalf
  • Identify the amount covered by the PBGC if a company defaults on its pension package
  • List a requirement for holding a pension assets in a trust
  • Identify the basis for contribution limitations under Section 415
  • Name a plan that permits two methods for determining the minimum deductible annual contribution
  • Choose a unique feature of a defined benefit plan
  • Specify an allowable additional supplemental benefit that can be added to a pension plan
  • Name a plan with low employer costs
  • Identify a good plan for self-employed workers
  • Define how an owner of multiple businesses would calculate her or his maximum allowable contribution under a self-employed plan
  • Name an eligibility requirement of an IRA and calculate the percentage of maximum allowed IRA contributions for a couple where neither is covered by an employer plan
  • Choose a retirement plan that does not have nondiscrimination rules
  • List a requirement of a Roth IRA

Chapter 4

  • Define the type of annuity characterized by fixed distributions at regular intervals until death
  • Identify the item multiplied by the annuity payment to determine the excludible amount
  • Choose an eligible rollover distribution from a list and state how to avoid the 20% withholding
  • Name the Section 72(t) 10% premature distribution penalty tax exception that applies only to distributions from qualified employee plans and list one of the methods in Notice 89-25 that allows exemption from the 10% penalty
  • Identify the date when retirement plan participants must begin withdrawing from their retirement plan
  • List a feature of a qualified retirement plan lump-sum distribution that receives special tax treatment
  • Specify who or what holds the value of an employer's stock when there is NUA as part of a distribution from a qualified retirement plan
  • Name a characteristic of a qualified rollover and when it is required to be completed
  • List a condition for a rollover distribution to be received tax-free

Chapter 5

  • Specify when the IRS will treat a taxpayer as successfully deferring income
  • Name the key issue involved with the theory of economic benefit when determining the validity of a deferred compensation plan
  • Choose a permissible act of an employer in a deferred compensation arrangement and an option of an employer to help fund a such an arrangement
  • Identify the set of accounting rules that directs how tax returns should be prepared for a nonqualified deferred compensation plan

Chapter 6

  • Identify the extent to which insurance proceeds are taxable when the transfer-for-value rule applies
  • List the two portions of an annuity payment
  • Specify a condition that will cause life insurance to be taxable for federal estate tax purposes and a way to avoid estate taxes
  • Define the term insurance policy that can be exchanged for whole life or endowment without showing proof of insurability
  • Name a factor that should be considered when establishing a life insurance trust
  • Define the financial planning tool characterized by transferring money to an insurance company in return for a lifetime fixed-sum yearly payment and one where a property is exchanged for an unsecured agreement to make fixed periodic payments for life
  • Name the type of buy-sell agreement that exists between individual owners for the disposition of a business interest and a difference between the two types of buy-sell agreements
  • Identify a characteristic of life insurance that is important to consider when desiring to pass wealth to heirs
  • Define the term for life insurance proceeds used to pay death taxes and estate settlements
  • Specify the amount that was tax-free under the now repealed Section 101(b)
  • Identify a situation where life insurance premiums paid would be deductible
  • Name the party in a life insurance contract who manages the policy and may elect any options
  • State the value of the gift when a life insurance policy is transferred to another person
  • Identify the portion of a life insurance policy purchased as community property that would be treated as a gift
  • List the coverage provided by purchasing term insurance that would provide only a predetermined degree of protection
  • State a disadvantage of renewable term insurance that is renewed annually
  • Specify what would increase during coverage of whole life insurance

Chapter 7

  • Specify how a loss on the sale of a home under §121 is treated and what the §121 exclusion used in the sale or exchange of a remainder interest covers
  • Identify the capital gains rate bracket that does not have losses and the bracket that was repealed in 2003
  • Choose a current §121 rule from a list
  • List the amount of the gain exclusion that was provided to homeowners 55 or older under prior §121 rules
  • Name the main advantage of cross-purchase buy-sell agreements
  • Choose the end date for measuring the requirement that a seller use a property as a principal residence for two of five years
  • Identify how the IRS determines whether a couple is married when determining use of the $500,000 exclusion
  • List the minimum distance traveled increase necessary to deduct moving expenses under §217

Chapter 8

  • Identify circumstances where the unlimited marital deduction would be denied when passing property
  • List a characteristic of a qualified terminable interest trust
  • Specify how stepped-up basis works when passing property upon death
  • Name a type of property that qualified for basis increase under the 2010 special election and how property received would have been treated
  • Identify one of the basic estate planning goals and a document used in estate plans to dispose of assets upon death
  • Name the four parties involved in a trust and the party most likely to receive trust income or property rights upon death
  • Identify a characteristic of a living A-B revocable trust and the purpose of a pour-over provision in a simple will
  • State one of the basic requirements of an insurance trust
  • Identify the function or nature of a durable power of attorney for health care
  • Identify any restrictions on a surviving spouse under a marital deduction trust
  • Choose a benefit of a qualified terminable interest trust
  • Define the term for the portion of an estate that can be passed on tax-free
  • Specify an item not covered under a simple will
  • Identify an important reason for setting up a trust beyond asset protection and management
  • Name the two ways trusts can be classified based on when they are created
  • Define the reference for the spouse’s trust when the first member of an A-B-C trust dies
  • Identify when a remainder would be distributed to a charity under a charitable remainder trust
  • List an appropriate type of asset for use in a charitable income trust
  • Specify how gain would be treated when related parties exchange property for a private annuity


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