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Release Notes for Version 11.04
The key enhancements for this release are:
after-tax property division, calculation of modification amounts and
dates for child support, and better tracking and reporting of separate
property that is given to the other spouse.
The following are all the enhancements for this release:
After-Tax Property Division. We added an interactive “Marital
Property Division After Tax” worksheet. For each property, we are now
calculating a “percent taxed” for each party. The method we use varies
with the nature of the asset and the circumstances. For example, if real
estate is designated to be sold, we look at the projected tax at the
sale date. If it is not designated to be sold, we look at a hypothetical
sale in the current year. For another example, if no basis is entered,
bonds are assumed to have no gain or loss, but stocks are assumed to
have a zero basis. You may click a link at the top of the report and see
our calculations for each asset. We then take the “percent taxed” and
multiply it by the pre-tax marital value to get the after tax value for
each party’s share of each asset. We then add these numbers up to get a
total after-tax value and percent for each party. You may override our
calculation of “percent taxed” for any asset, so, again, you have
complete control over the inputs.
Child Support End Date. The software now automatically calculates
the end date for the first level of child support, based on the birth
date of the oldest child who currently qualifies for support.
Added multi-tier child support. The software now has an option to
calculate modification dates and amounts for the next two tiers of child
support. This is a check box located on the Child Support screen.
Separate property given to other spouse. Now, we are tracking and
reporting separate property given to the other spouse. There is a new
section on the Marital Property Division report and a new column on the
Marital and Separate Property report. It is now possible to indicate
separate property being given to the other spouse on the Lawyer tab.
Payroll deductions on lawyer tab. Added a separate section for
potential payroll deductions on the Lawyer tab, Income & Expenses
screen. This will make it easier to enter information off a W-2 into the
software.
Washington State Child Support. We implemented the new table and
other guideline changes for the October 2009 revision of Washington
State child support guidelines.
What If Analysis. We added text to the top lines of the What If
Analysis screen, to show when we are assuming that alimony and child
support will begin.
Child’s assets. Now personal assets can be child’s asset.
Refinance Proceeds. We removed the “X” box option with respect to
showing refinance proceeds. Now refinance proceeds will always be shown.
Lawyer tab reports. Added the reports for “Total Property
Division (Marital Plus Separate Property)” and “Alimony Trade-Off” to
the Lawyer tab. Previously, these had been available only on the Planner
tab.
Separate Debts. Now, if a debt is indicated to be separate, the
spouse whose debt it is has payments default 100%.
CT state taxes. We have incorporated the Connecticut exemptions
table (but not personal credits). This brings us even closer to a
precise state tax calculation in the state.
PA child support. Now, if the non-custodial parent pays more than
his or her share of child care expense, that can reduce his or her
support obligation. Previously, “excess” child care payments could not
reduce the support obligation.
NJ child support. Updated the New Jersey tax table and
withholding rules.
Pensions. The RP-2000 table is now available as a link in the
software, on the Defined Benefit Pensions “more info” screen.
Real Estate. It is now possible to enter the interest rate at the
top level on the Lawyer tab for mortgages. This makes it possible for
the software to precisely calculate the mortgage interest deductible in
the current year.
Nevada child support. Updated the Nevada child support table.
New York Child Support. Added "additional deductions" to the NY
quick child support calculator. The calculator, when printed, will now
fit on one page.
New York Child Support. We now carry "unreimbursed" business
expenses" from the Planner to NY child support
New York Net Worth Statement. We have added the option to show
totals for assets independently of an option to show totals for income
and expenses.
New York Background Info. We have removed the question about
“Plaintiff” and “Defendant,” and moved this to the Family Data screen.
We have also clarified that this field is optional.
Multiple pensions. The software tended to slow down when multiple
pensions were entered. We have made it a bit faster in this situation.
Video tours. We have added video tours on the Getting Started
page, and video help topics on the Files tab.
New Jersey Child Support. We conformed our tax calculation for
guideline purposes to common practice in New Jersey. We use Appendix
IX-H except that we select Circular E if...
- The party is filing jointly or has a new spouse; or
- The party is head of household; or
- The party has any business or self-employment income; or
- The party has any alimony income.
New Jersey Case Information Statement. Improved footnoting. Now
all footnotes except asset and liability footnotes print at the end.
Asset and liability footnotes print right after the assets and
liabilities.
California Spousal Support. We added a screen that explains which
counties use which formulas on the Lawyer and Planner tabs.
Payroll deductions. We moved the list to specify “Payroll
Deduction” to the top level on the Lawyer tab for likely payroll
deductions.
Bugs fixed:
Real Estate. We were not showing any appreciation in the real
estate. That has been fixed.
Pennsylvania child support. Guideline worksheet lines 16 and 18
now carry directly from line 4. Previously, both lines 4 and 16 carried
from your entry of net income. But if line 4 was overridden, line 16
would be out of synch. That has been corrected.
Debts. Separate debts were being erroneously counted in a
subtotal on the Marital Property Division report. (The total had been
correct.) This has been corrected.
Mortgage. It was possible to say “no” to the question “any 2nd
mortgage,” and, if you had entered mortgage data, the data would still
be counted. That has been fixed.
Major expenses. Now, for new files, if you start in 9/2009 (for
example), by default you get a full year of the expense in 2009.
Previously, we gave you a partial year. You may still expressly specify
that you want a partial year. Also, if you specify 8/1/2009, or 8/2009
(i.e., any month on the first day), we do a computation to pro rate by
number of months / 12, rather than number of days / 365.
Child tax credit. This was not being granted in the child’s 16th
year. That has been fixed.
If the option for tax on wages was “Medicare only” or “Neither FICA nor
Medicare,” and the tax category of the deduction was “Payroll
Deduction,” we were subtracting the FICA from zero and letting FICA go
negative. That has been fixed.
Where there was separate property, the Backup Reports for Net Worth were
all omitting those lines. That has been fixed.
Florida Affidavit. For the first party entered, current alimony
was not being included for purposes of the tax calculation for the
affidavit. That has been fixed.
Separate personal property being given to the other spouse. We
had been calculating total assets for each party incorrectly in that
situation, and that is now fixed.
Client edition. Software update was not working properly. That
has been fixed.
Connecticut Child Support. For imputed support, line 12d is now
calculated directly from line 12c not using the earlier value that had
been used to calculate line 12c. Thus, if line 12c is overridden, line
12d will update accordingly.
PDF Printer. In rare cases, it was indicating that the printer
was unlicensed. We may have fixed that.
Student insurance loan interest deduction. If tax in year 1 was
joint, we were not looking at both parties’ AGIs for phase-out of this
deduction, we were looking only at the debt payer. This has been fixed.
Liquidations of Roth IRAs. We were charging tax on liquidations
of Roth IRAs that has been fixed.
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