Social Security Planning


Social Security has long been a pillar upon which Americans build their retirement plans. As the largest source of income for a majority of retired workers, Social Security provides over 70% of retired or disabled Americans with income.

Because of the role Social Security plays in retirement, it is paramount that workers maximize their benefits. Tax specialists and financial planners can play an important role in helping their clients make informed choices about Social Security. Although there is never just one right answer for the questions clients may ask about Social Security, it is important to understand the options available in each client's case.

This course provides a comprehensive overview of the foundation of the Social Security system and the means by which benefits are calculated and taxed. Several strategies that may be employed by taxpayers to maximize their benefits are also discussed along with a number of tax issues that relate to Social Security benefits for different types of taxpayers.

Learning Objectives

Upon the conclusion of this course, you should be able to:

  • correctly identify when workers and their spouses, dependents, or survivors are eligible for Social Security benefits
  • identify the methods used to calculate Social Security benefits for eligible taxpayers
  • identify the effect of early and delayed retirement on taxpayer benefits
  • identify the rules that apply to special situations, including widows, dependents, and divorced spouses
  • correctly calculate taxes on Social Security benefits

Tax Year: 2022

Designed For

CPAs, EAs, CRTPs, Maryland tax preparers, Oregon tax preparers, other tax preparers, and other tax, accounting, and finance professionals

Advanced Preparation


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