|
Release Notes for Version 5.16 released October
29, 2003
This release significantly improves the entry of Living Expenses, making it much easier and more flexible.
All Editions that Include the Advisor module.
If you choose to use the "detail" method of entering living expenses, it is now possible to enter up to 50 line items of living expenses.
Each line item may be anything at all. This is different from the previous method, where the line item descriptions were specified in advance.
Also, you may enter an expense as either "weekly," or "monthly," or "annual," and the software will immediately calculate and display the expense over the other two time periods.
Each expense may be marked to increase with inflation, or not. Previously, all expenses were assumed to increase with inflation, and there was no way to enter a level expense.
Each expense has a "start" and "end" year. So you may use it to enter expenses, such as deferred payments, that will start in the future and last for a specified number of years. Or you may enter therapy or special lessons that will end at a specified date. Previously, all expenses lasted for the full 30 years.
You may use the "end" date to phase out or cut off children's expenses at a time of your choosing. Previously, children's expenses were automatically cut off when the youngest child turned age 18.
At the bottom of the screen, the software totals living expenses on an annual basis, projected 30 years.
A pop-up screen shows totals in each tax category projected 30 years.
If the category has a tax impact, you may select "tax category" to specify that impact.
The tax categories are: health insurance of self-employed individual, alimony to a previous spouse, moving expense, property tax, charitable, medical, state income tax, mortgage expense, other AGI deduction, other itemized deduction, or child care expense.
Once a tax category is selected for an expense, that amount will automatically receive the proper tax treatment for all years that the expense is incurred.
Helpful pop-ups give a list of potential line items.
Other pop-ups discuss where to enter mortgage expenses, rental expenses, state income taxes, loan payments, education expenses, and other special expense items.
It is now also the case that you may select whether to use "summary" or "detailed" expenses independently for each spouse.
Living expenses from older files are automatically converted to the new format.
The summary method of entering living expenses is unchanged.
Back to
"About This Release" Page
| 
