Money Tree's Financial Planning Software Blog


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.   


2017 State Income Taxes


by Carolyn Rothwell

2017 state tax income tax information is now available.  If you plan with TOTAL, 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 resource for 2017 state tax rates.  

The online edition of TOTAL includes a feature allowing Money Tree to populate the tax information for all states in the program's settings.  For planners using the desktop edition, or anyone who would like to see the state tax updates, the 2017 state tax data entered in TOTAL Online is included in this post. 


2017 State Tax Update for TOTAL Online: Opt-In by Thursday, April 20th


by Carolyn Rothwell

TOTAL Online includes a feature allowing Money Tree to populate the tax information for all states in the program's settings. The most recent state tax information for 2017 ready to send to participating TOTAL Online customers. Please see a related blog post, 2017 State Tax Rates, for details about the 2017 state tax changes.


Illustrating Roth IRA Conversions / Rollovers in TOTAL


by Carolyn Rothwell

Converting a traditional IRA (or any other eligible retirement plan) to a Roth IRA is simple to illustrate in TOTAL by using the Monthly Additions/Withdrawals tab of the Asset Details input.  


Converting a Rental into a Residence in TOTAL


by Carolyn Rothwell

Converting a rental into a primary residence is not a function built into TOTAL, but can be modeled thanks to TOTAL's flexible plan data. The steps include "selling" the rental at the time of conversion to stop the income, expenses and taxes associated with the rental property, making adjustments to the tax reports to offset any taxable gain from the "sale", and lastly "purchasing" a residence which offsets the cash flow proceeds from "sale" and adds the residence to the clients net-worth. 


Top Client Services: Retirement Income & Financial Planning


by Carolyn Rothwell

As we all know, there is much uncertainty surrounding the DOL fiduciary rule, which is due to take effect in less than two months. Regardless of if the DOL fiduciary rule is delayed, or a new rule is written to replace or even eliminate the current rule, the trend of advisors working to provide clients with more value, care, and transparency will continue.


The Ins & Outs of Stock Options in TOTAL


by Carolyn Rothwell

TOTAL's in-depth planning provides the ability to enter Incentive Stock Options and Non-Qualified Stock Options, including the grant price, strike price, appreciation rate and dates. The financial planning projections determines the cost and value of exercising options and selling stock and reports the amount and type of income subject to taxation. The tax effects will be estimated automatically. Restricted Stock Options can also be handled in the system by entering an option as a NQSO and setting the strike price as $0.


Current Asset Allocation Override Option in Silver


by Carolyn Rothwell

Silver is all about keeping planning simple, and a new option makes reflecting a client's current asset allocation even easier.


FAQ: Updating Desktop Editions of Money Tree Software


by Carolyn Rothwell

The process of updating the desktop edition of your financial planning software is designed to be quick and easy. Frequently asked questions and answers relating to the update process are included below


2017 Tax Updates Available Now for Silver and TOTAL


by Carolyn Rothwell

The 2017 tax updates for Silver and TOTAL are available now. The latest version includes updated income taxes, estate taxes, retirement plan contribution limits and Social Security estimates for 2017.