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.
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?
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
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.
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
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.
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.
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.
Posted in Tax Clarity
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
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.