Tax Clarity Flash Sale!

Posted on June 18, 2018

Following the changes brought on by the 2017 Tax Cuts and Jobs Act, Tax Clarity® has been in very high demand. The recently updated software allows your clients to visualize the new tax landscape and make better decisions about which income streams to use at which points in retirement. Hundreds of the nation's top advisors have added Tax Clarity to their toolbox. Regular price is $79.99 per month or $800 per year, but for this week only, you can buy now at legacy pricing. 

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Posted in Tax, Tax Clarity, Tax Map, Tax Reform, Tax Cuts and Jobs Act, New Tax Law, sale

A closer look at the new Tax Clarity updates: pass-through deduction

Posted on June 07, 2018

At the beginning of April, Covisum rolled out four new features to the Tax Clarity® software. The new pass-through deduction feature is particularly important for advisors with certain clients who own small businesses. The update allows advisors to demonstrate the impact of the deduction for pass-through income and the phase-out of the deduction under the 2017 Tax Cuts and Jobs Act.

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Posted in Blog, In The News, Tax, Tax Clarity, Tax Reform, Taxes, Tax Cuts and Jobs Act, FinancialPlannng

Tax law 2018: what financial advisors need to know

Covisum is hosting a free webinar on January 30 at 11 a.m. Central where advisors can learn how to capitalize on opportunities from the change in the tax law. Hear from Joe Elsasser, CFP®, RHU®, REBC® and President of Covisum and Dave Cechanowicz, JD, MSFS, AIF® AEP and Senior Financial Planner with REDW Stanley, in this must-attend webinar.

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Posted in Tax, Tax Clarity, Tax Map, Tax Reform, Webinar, Financial Planning, Joe Elsasser, Taxes, Retirement Planning, Tax Cuts and Jobs Act, Tax Law, New Tax Law

Join us for a live demonstration of Tax Clarity

Covisum's mission is to improve lives through better decisions. Advisors and financial institutions rely on us to help them guide their clients to make the best financial decisions. That's why we create software and reports that visually illustrate the value of a good decision. Advisors can quickly recognize and identify opportunities to save their clients from leaving significant money on the table.  

Learn more about how we can support you and your business at one of our upcoming live

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Posted in Software Programs, Tax, Tax Clarity, Tax Map, Tax Reform, Training, Support, Webinar, Demo, Financial Planning, Clients, Advisor, Grow your business, Features, Tax Law, New Tax Law

Covisum updates Tax Clarity software to reflect  Tax Cuts and Jobs Act changes

Advisors can now answer clients' biggest question in the New Year: "How will the new tax law affect me?"

Advisors and financial institutions rely on us to help them guide their clients to make the best financial decisions. Advisors who are struggling to quantify all the implications of the new 500-page Tax Cuts and Jobs Act can gain insight into unseen opportunity to add dollars to a retirement plan with the newly updated Tax Clarity tool. Advisors can now confidently perform tax

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Posted in Tax, Tax Clarity, Tax Map, Taxes, Tax Cuts and Jobs Act, Tax Law, New Tax Law

Did the Tax Cuts and Jobs Act Eliminate the Social Security Tax Torpedo?

The Tax Cuts and Jobs Act represents a relatively significant tax cut for most middle-income retirees, but the bill did nothing to change the interactions between different income sources in retirement, which means that retirees will need to pay close attention to which accounts they withdraw from at which points in time.

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Posted in Tax, Tax Clarity, Tax Reform, Taxes, Tax Cuts and Jobs Act

Tax Implications of Filing for Social Security Benefits Early Versus Filing Late

By Keith McCullough, Director of Support Services

Many of us have heard someone say that Social Security is not going to be around much longer. There are claims that the Social Security Administration will run out of money and will not be able to pay out benefits. Along with those claims comes the suggestions that one should file for benefits as soon as possible. You know, “…it’s better to get a little something back considering you’ve paid into the system for all your working life.”

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Posted in Social Security, Social Security Timing, Tax, Tax Clarity

The 5-minute triage: learn quickly if IRA deduction is double dipping

Contributed by Joe Elsasser, CFP®, President 

For many middle income people approaching retirement, a common question is whether to contribute to a traditional IRA or to a Roth IRA. Often, the rationale for contributing to the Roth or forgoing an IRA contribution altogether is that the client’s tax bracket in retirement is likely to be the same or potentially higher than it is now.  Unfortunately, this shortcut often misses the point. The client should be concerned less with the tax bracket

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Posted in Tax, Tax Clarity, Tax Map, IRA

Follow the Tax Map to find clients nontaxable income

Posted on July 26, 2017

Imagine showing a prospect how to harvest $11,000 IRA income with no tax. Or a client how to harvest $67,500 of capital gain with no tax. Our “Practical Uses for Tax Clarity” video shows how simple it is.

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Posted in Software Programs, Tax, Tax Clarity, Tax Map, video

Charting the retirement course on Covisum's Tax Map

Posted on May 23, 2017

Case Study: The Real Tax System

John and Jane are married and will be filing jointly. They are both over 65 years old. They have $50,000 in combined Social Security assets, $15,000 of net long-term capital gains, and $25,000 in IRA distributions.

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Posted in Retirement, Tax, Tax Clarity, Tax Map, case study