BOOM! The Tax Bombs Baby Boomers Face


Tuesday, September 22, 2020 · 2:00 – 3:40 PM ET

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Continuing Education

CPE Program Knowledge Level: Overview
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0140
IRS/RPO Approved Program
#7ZBUJ-T-00082-20-S-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-T-00082-20-S-S (QAS Self Study) Archive
Federal Tax Law (2 Hours)

Program Content

This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page.

The program, through a lively round-table discussion and real time interaction with the audience, looks at the tax issues that confront the baby boomer generation. The program will focus on tax issues that arise for seniors who may face declining earned income and an increasing reliance on savings and retirement plan drawdowns. Panelists will also examine issues of concern to seniors who are still struggling with offspring attending college. Downsizing is another facet of aging Boomers may face, so the panel also will explore tax issues arising from home sales or other means of financing the golden years.

By the end of the program, participants will have a practical understanding, through accurate, current, and effectively designed communications, of the major tax issues confronting the members of the Baby Boom generation.

Program Learning Objectives

  1. Identify the major tax issues Boomers may face when completing their annual income tax return.
  2. Identify the tax tools available to aid Boomers who are still helping their children obtain an education.
  3. Identify the principal tax issues facing Boomers who are in the process of downsizing.
  4. Identify the tax consequences that flow from a drawdown of retirement savings

Program Outline

  • THE BOOMER'S TAX RETURN
    • Increased Standard Deduction
    • Credit for the Elderly
    • Tax on Social Security Benefits
    • Out-of-Pocket Volunteer Expenses
    • Medical Expenses
    • Non-Qualified Annuity Income

  • YOUNG BOOMERS AND COLLEGE AGE KIDS
    • American Opportunity Credit
    • Lifetime Learning Credit
    • Qualified Tuition Programs
    • Education Savings Accounts 
    • ABLE Accounts
    • Early IRA Distributions
    • U.S. Savings Bonds

  • DOWNSIZING
    • Reverse Mortgage
    • Tax-Free Home Sale
    • Independent and Assisted Living
    • Life Insurance
    • Viatical Settlements

  • RETIREMENT PLAN DISTRIBUTIONS
    • IRAs
      • Early distributions
      • Required distributions
      • Survivor benefits
    • Pension Plans
      • Periodic payments
      • Non-Periodic payments
      • Tax on excess accumulations
      • Early distributions
      • Survivor benefits
    • Rollovers                   

Panelists

Moderator

Alan Pinck, EA
A. Pinck & Associates

Alan Pinck is an Enrolled Agent with over 25 years of tax preparation experience in the San Francisco Bay Area. He has built a practice specializing in individual, small business tax preparation and audit representation. He is currently a speaker at the NTPI events, CSEA Super Seminar as well as a variety of other presentations for tax groups and small business associations. Having represented thousands of tax returns in audit, Alan has obtained tremendous insight of the audit process as well as knowledge on a wide variety of tax issues.

IRS Panelists

Coming Soon !

Industry Panelists

Coming Soon !

 

 

Content Consultant

David F. Windish, J.D., LL.M
Content Consultant

David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the Institute for Business Planning.

Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.

Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.

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