Money Tree's Financial Planning Software Blog


How Will the Tax Reform Affect my Tax Return? Answer Clients' Questions with TOTAL


by Carolyn Rothwell

Next week's tax filing deadline marks the last year of filing under the prior tax rules. With the 2017 tax returns filed or nearly filed, it's time to move away from the previous laws and focus on the impact the tax reform changes. The tax rule changes add a valuable discussion point when creating new or updating existing financial plans for your clients and prospects. Clients will be universally interested in understanding how the new tax law impacts their financial situation. Below are highlights of the tax rule changes which pertain to common tax situations. 



TOTAL Online 2018 State Tax Update - Opt In by Friday, April 20th


by Carolyn Rothwell

TOTAL, Money Tree's in-depth financial planning software, includes both federal and state income tax rates for detailed tax calculations.  TOTAL Online includes a feature allowing Money Tree to populate the tax information for all states in the program's settings.  State tax information for 2018 ready to send to participating TOTAL Online customers.  Please see a related blog post, State Income Tax Data for 2018, for details about the 2018 state tax changes. 


Additional Features of TOTAL's 2018 Tax Update


by Carolyn Rothwell

While TOTAL's 2018 tax update focused on ensuring tax law changes were built into the financial planning software, additional noteworthy changes are available in the most recent version.  


Traditional CPI (CPI-U) vs. Chained CPI (C-CPI-U) & TOTAL's Tax Projections


by Carolyn Rothwell

The new tax law uses the Chained Consumer Price Index for All Urban Consumers (C-CPI-U), instead of the Consumer Price Index for All Urban Consumers (CPI-U) to adjust for inflation. The change to tie inflation to the Chained Consumer Price Index is one of the few provisions applying to individual taxation that is permanent.  The Chained CPI provides a lower inflation measurement by adjusting for "substitution bias" which accounts for consumers choosing a substitute good available for a lower price.


Demonstrating the Impact of the Tax Cuts and Jobs Act on Clients' Financial Plans


by Carolyn Rothwell

Demonstrate the long-term impact of the Tax Cuts and Jobs Act on clients' financial plans in TOTAL by comparing sunset vs. no sunset options, and both the short-term effect by comparing financial plans using the current tax law vs. prior tax law.

TOTAL's cash-flow-based approach, Golden Years, completes a detailed tax calculation each year, proving an ideal planning platform for evaluating the effects of the tax law changes.  


TOTAL's 2018 Tax Update - Available Now


by Carolyn Rothwell

TOTAL's 2018 tax update featuring the tax changes for the Tax Cuts and Jobs Act (TCJA), including a sunset configuration option, is available now.


State Income Tax Data Updated for 2018 - Now Available in TOTAL


by Carolyn Rothwell

State tax income tax information for 2018 is available now. If you plan with TOTAL, Money Tree's in-depth financial planning software, it's standard practice to ensure the state tax rates are entered for all of the states your clients reside in and the rates are up-to-date each year.  The Tax Foundation is an excellent state tax resource providing updated rates each year, which is used to populate the state tax rates in TOTAL. A new option will be available in TOTAL's desktop edition to download the state tax data, which means this time-saving feature will be available for both the desktop and online edition. 


Upcoming System Maintenance - Saturday 3/10 at 5 PM PT


by Carolyn Rothwell

On Saturday, March 10th system maintenance will begin at 5:00 PM PST (8 PM EST).

Scheduled maintenance will take place Saturday the 10th starting at 5 PM PST (8 PM EST).  The online editions of Silver and TOTAL will be temporarily unavailable. We are taking steps leading up to the maintenance to limit this downtime to be as short as possible. 


Top 5 Things to Know about Taxes in Silver


by Carolyn Rothwell

Silver's tax method holds true to its focus on simplicity. Silver accounts for the expense of taxes by charging every dollar of taxable income for taxes using the provided tax rate. Planners are asked to provide the effective tax rate to use for the projection. The tax rate can set for pre- and post-retirement periods. Learn about the tax method, ways to calculate the clients's tax rate, and how the tax rate is applied to income sources and assets below.   


Silver - 2018 Tax Update Available Now


by Carolyn Rothwell

The 2018 tax update for Silver is available now. The latest version includes updated estate taxes, retirement plan contribution limits and Social Security estimates for 2018. 

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