Money Tree's Financial Planning Software Blog


TOTAL: Planning Data - Future Change Table Amounts & Increase Rates


by Carolyn Rothwell

TOTAL, Money Tree's in-depth financial planning software,  captures details of clients' situations with the ability to add future changes at any age.  Future change tables are available throughout the planning data, allowing amounts to be changed, started or stopped anytime.  The future change tables also allow the associated increase (or decrease) rate to be changed. 

This blog post will break down and illustrate the relationship between the client's age, dollar amount, and the increase rate for the future change tables. 


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. 


Tax Cuts and Jobs Act & Financial Planning Software Updates


by Carolyn Rothwell

The Tax Cuts and Jobs Act (TCJA) was signed into law December 22nd. Tax law changes take effect January 1, 2018. A majority of the tax law changes applying to individuals are not permanent and are scheduled to sunset after 2025, reverting to the law in effect prior to the TCJA. The major changes to individual tax planning stemming from the new tax legislation are included below. Details of the tax laws can be found by reading the final bill and the Joint Explanatory Statement of the Committee of Conference.

The new legislation requires significant changes to the tax calculations in Money Tree's financial planning software, impacting the timeline for the 2018 tax update. The tax changes are the top priority for the software and development is underway.


Reflecting Investment Strategy Changes in TOTAL


by Carolyn Rothwell

TOTAL allows investment strategy changes to be reflected in a client's financial plan at any age thanks to the flexibility provided by the future change tables.


Projecting Retirement Plan(s) Separately in TOTAL


by Carolyn Rothwell

Up to four retirement accounts can be projected separately in TOTAL, providing flexibility and control.  The default approach is to "pool" all the client's deductible retirement accounts into one report, and all the second client's  retirement accounts into a second report.

Subscribe to Email Updates

Recent Posts

Planner Guides

Check out our free informational guides for advisors including:
  • Fundamental Financial Planning Interview Guide 
  • Making the Most out of Planning Engagements
  • Social Security: Choices Opportunities, and Decisions
  • Understanding Medicare Fundamentals

Popular Posts