Money Tree's Financial Planning Software Blog


Top 50 Plan Changes to Explore Using TOTAL Online's What-If


by Carolyn Rothwell

TOTAL Online's What-If system is off to an impressive start. Advisors are jumping in, leveraging the new system to explore planning options, bring awareness to the significance of changing assumptions, and deliver transparency to the long-term impact of taking action.


Understanding Silver's Survivor Needs Analysis


by Carolyn Rothwell

Silver includes a Survivor Needs Analysis per client to help determine an estimated level of life insurance coverage required to prevent a future shortfall for the surviving household.


Announcing TOTAL Online's Powerful What-If System


by Carolyn Rothwell

To help advisors explore trade-offs and find solutions with real-time results, we are excited to announce TOTAL Online's powerful What-If systemChange planning variables and see the impact on the client's retirement capital projection instantly. Engage clients and drive informed decisions by showing how choices made today and in the future dramatically alter their long-term financial situation with the What-If system.


Online Editions of TOTAL and Silver will be Down for Scheduled Maintenance on 5/21 at 12 AM PT


by Carolyn Rothwell

On Sunday, May 21st the Online Editions of TOTAL and Silver will be down for maintenance at 12:00 AM PST (3:00 AM EST). 

Money Tree needs to perform a maintenance item that requires the Online Editions of TOTAL and Silver to be down for a short period and have scheduled the downtime when it will have less impact on our customers.  We are taking steps leading up to the maintenance date to limit this downtime to be as short as possible. The expected downtime is under two hours.  


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, 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 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.