Social Security Disability Income: Taxation and Reporting Requirements
1 hour 40 minutes
Gain a better understanding of how to advise on tax planning and social security disability benefits, as well as important reporting requirements.
Professionals such as financial planners, accountants, and attorneys are asked by clients about rules and regulations in many different areas. Statistics published in 2018 from the Council for Disability Awareness states that one in four can expect to be out of work for at least a year because of a disabling condition before they reach the normal retirement age. They go on to state that about 13% of the U.S. population, about 43 million people, are classified as disabled. Odds are; that you have clients, family members, or friends asking about disability issues. This topic will give you the facts you need to know to be able to answer Social Security disability questions confidently and accurately. This material will give you the knowledge you need to expand and improve your professional advisory practice.
• You will be able to explain to clients and audiences how to qualify for Social Security disability benefits and keep them.
• You will be able to discuss the tax aspects of Social Security disability and advise on tax planning for these benefits.
• You will be able to describe how a disabled child can collect Supplemental Security Income (SSI) and convert to Social Security disability benefits in the future.
• You will be able to identify yourself as a Social Security benefit expert and expand your practice.