On-Demand Webinar, "Last Minute Tax Moves: What Advisors Need to Know"

Covisum is hosting a free webinar on December 5 at 11:00 a.m. Central Time where advisors can learn how to optimize year-end tax opportunities for clients. Your clients have until the end of the year to harvest from an IRA, execute a Roth conversion, or take a capital loss. Join Joe Elsasser, CFP®, President and Founder of Covisum for this timely discussion. 

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Posted in Webinar, On-Demand Webcast, Taxes, Tax, Joe Elsasser, Tax Clarity

Technology Tools for Today: Covisum tools make it easy

Covisum tools make it easy to provide Social Security advice, model future tax situations and give more realistic estimates of downside portfolio risk

Recently, Bob Veres spoke with Covisum Founder and President, Joe Elsasser, CFP®. Here's the recap published in Technology Tools for Today.

Why does Covisum focus on providing tools for financial advisors who specialize in pre-retirement and retirement planning?
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Posted in In The News, Joe Elsasser, Tax Clarity, Social Security Timing, SmartRisk, financial advisor, Advisor

Knowledge Base: Frequently Asked Questions About Tax Clarity

Q: What does the gray portion of the Tax Map represent?

A: The gray portion of the Tax Clarity® Tax Map represents the effective marginal rate (EMR). If you are looking at the “Rate on the next dollar of ordinary income” map, the software indicates at each ordinary income dollar (i.e. IRA distribution, pensions, earned income, etc.) how that ordinary income dollar and other income (Social Security, capital gains, self-employment, etc.) will be taxed. In other words, the software assesses

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Posted in Tax Clarity, Taxes, Tax Map

Hidden Value: Beware the Social Security Tax Torpedo

Hidden Value is a new column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he discusses how combinations of different retirement incomes can create ugly distortions in tax rates. 

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Posted in ThinkAdvisor, Hidden Value, Joe Elsasser, Taxes, Retirement, Tax Clarity

A closer look at the new Tax Clarity updates: dependent tax credit

Posted on June 26, 2018

At the beginning of April, Covisum rolled out four new features to the Tax Clarity® software. The new dependent tax credit feature allows advisors to demonstrate the impact of the revised dependent tax credit, including for dependents over the age of 16

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Posted in New Features, Tax Law, New Tax Law, Taxes, Tax Clarity, Tax Map

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 New Tax Law, Tax Cuts and Jobs Act, Tax Clarity, Tax Map, Tax Reform, Tax, 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 FinancialPlannng, Tax Cuts and Jobs Act, Taxes, Blog, In The News, Tax, Tax Clarity, Tax Reform

A closer look at the new Tax Clarity updates: saver’s credit

Posted on May 29, 2018

At the beginning of April, Covisum rolled out four new features to our Tax Clarity® software. The new saver’s credit feature allows an advisor to demonstrate the impact the saver's credit can have on a client’s retirement plan, which is particularly relevant for semi-retired clients who have choices on which accounts to draw from in order to supplement part-time work.

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Posted in Tax Clarity

Dream team: financial advisors & CPAs

Posted on May 28, 2018

Collaboration leads to better client thinking

Financial advisors can capitalize on this era of new tax laws by forming mutually beneficial relationships with CPAs. CPAs can add value to your practice, both by providing tax advice and by referring clients who need financial plans. Tax advice that a CPA gives is different than the advice you can give for a tax-efficient retirement plan. But when paired together, this advice empowers your client to make the best financial decisions. Use our free

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Posted in CPAs, Free Download, Tax Clarity, Referals

A closer look at the new Tax Clarity updates: self-employment tax

Posted on May 15, 2018

At the beginning of April, Covisum rolled out four new features to our Tax Clarity® software. The new self-employment tax calculates the impact of paying both the employee and the employer's share of Social Security and Medicare taxes for self-employed clients.

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Posted in Tax Cuts and Jobs Act, Tax Clarity, New, Features