Identify who is entitled to retirement benefits and in what amounts, as well as what factors to consider in determining when to take benefits. Discuss taxation of Social Security benefits and how this affects other income tax planning. Get familiar with Medicare, its prescription drug provision, and basic supplementary insurance plans that are available to fill in the gaps in coverage. Highlights
Legislative developments
Determining the best planning options for maximizing
joint Social Security benefits
Retirement benefits: amount of benefits in various
circumstances and how the amounts are distributed within the family unit
Qualifications
Taxation of Social Security: avoidance tactics
Spousal benefits: should a spouse return to work,
what benefits does a spouse have, and when and how do they relate to benefits
decisions?
Disability benefits
Social Security: advantages and disadvantages at ages
62, 66, and 70
Coordinating benefits: should you take Social
Security first and higher-balance IRA distributions later, or take IRA
balances first and enhanced Social Security benefits later?
Pensions: distribution strategies and how to use the
minimum distribution rules in concert with Social Security benefits
John Kilroy is a managing member of
iValue Financial Planning LLC, located in the Philadelphia, Pennsylvania area.
John engages clients in financial and tax planning, as well as preparing tax
returns for individuals, corporations, partnerships, estates, and trusts. John
is a CPA and a CFP® practitioner. He is a 1979 graduate of Villanova University
with a BS in Accounting. John is a member of the Pennsylvania Institute of
Certified Public Accountants and the Financial Planning Association (FPA).
Within the FPA, John has served as a board member of the Philadelphia Tri-State
chapter and on its education and finance committees. John is an adjunct faculty
member for the Temple University Certificate of Financial Planning Program. He
is a frequent speaker and facilitator on tax and financial planning topics. John
has been quoted in the Wall Street Journal, MarketWatch.com, and USATODAY.com.
He has written for the Journal of Financial Planning, and is a contributor to
Retirement Weekly. John has also discussed financial and tax planning issues on
various radio outlets.