April News: Client's Asking "How will the Tax Reform Affect my Next Tax Return?" Additional Features of TOTAL's Tax Update, State Tax Rates
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April 2018 News

Planning Notes | Software | Events | Tech Tip  

How will the Tax Reform Affect my Next Tax Return?

Clients: "How will the Tax Reform Affect my Next Tax Return?"

Tuesday's tax filing deadline marks the end of filing under the prior tax rules. The 2017 tax returns are nearly all filed, making it time to move away from the previous laws and focus on the impact of the tax reform. The tax law changes add valuable discussion points when creating new or updating existing financial plans for clients and prospects. Clients will be universally interested in how the new tax law affects their financial situation. Learn about the tax rule changes pertaining to common tax situations:

Highlights of Tax Rule Changes for Clients with Dependent Children Highlights of Tax Rule Changes for Clients Claiming Itemized Deductions Highlights of Tax Rule Changes for Clients with Home Loans
Highlights of Tax Rule Changes for Clients Paying AMT Highlights of Tax Rule Changes for Clients Owing a Business Highlights of Tax Rule Changes for Clients Considering Divorce

Money Tree's in-depth financial planning software, TOTALcompletes a detailed tax calculation providing an ideal platform for evaluating the effects of the tax law changes. TOTAL's goal-based approach and cash-flow-based approach complete a full tax calculation for the current year using the new tax laws.  

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Software

Additional Features of TOTAL's 2018 Tax Update 

New features are available in the latest version of TOTAL in addition to the tax law changes. The treatment of investment earnings changed on the cash flow detail reports, report section bookmarks are in the online edition, the report limit has increased in the desktop edition and a new stock/MF prices provider is in place. 

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Events

State Tax Updated in TOTAL Online - Friday, Apr. 20

State tax rates in TOTAL Online will be updated next week, on Friday, April 20th to reflect the 2018 state tax changes. Learn how to opt-in before the state tax update, or opt-out and get the state tax rates on your timeline. 
NEW: Get the latest state tax rates in the Desktop Edition

Federal Tax Table Increase Rate - C-CPI-U

Tech Tip

Federal Tax Increase Rate in TOTAL

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. In TOTAL, use the Increase Rate for Federal Tax Tables/Exemptions to reflect this change. 

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