Tax Issues for Seniors
As a tax professional, you most likely have clients who are elderly taxpayers. Properly preparing a senior’s tax return is just as important as preparing any other taxpayer’s return. This course will help you conquer the struggles of completing an elderly taxpayer’s individual income tax return and ensure nothing is forgotten.
Upon completion of this course, you will be able to:
- Evaluate certain credits and deductions that elderly taxpayers may claim.
- Report long-term care expenses and insurance proceeds.
- Determine the taxable amount of various payments received in retirement.
- Solve unique problems when receiving social security benefits.
- Identify tax benefits children may claim for elderly parents.
- Summarize the rules for required minimum distributions from inherited IRAs.
- List the advantages and disadvantages of life estates.
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.