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

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

Financial Planning highlights survey that suggests consumers want an advisor with tax knowledge

Posted on May 31, 2018

A recent article in Financial Planning highlighted a report from 1st Global that suggests the top priority among affluent and emerging affluent consumers when choosing a financial advisor is tax knowledge. 

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Posted in Taxes

On-Demand Webinar, "Tax Law 2018: What Advisors Need to Know"

Do you have clients who don’t understand the relationship between ordinary and capital incomes? If you do, they could be on their way to potentially significant tax inefficiency in their retirement strategy.

Recently, President of Covisum Joe Elsasser, CFP®, RHU®, REBC® and Dave Cechanowicz, JD, MSFS, AIF® AEP and Senior Financial Planner with REDW Stanley hosted a webinar discussing how to capitalize on opportunities from the change in the tax law. The webinar was written about in "

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

ThinkAdvisor: 4 Tips for Navigating Clients’ Tax Questions

Yesterday, Joe Elsasser, CFP®, RHU®, REBC® and President of Covisum and Dave Cechanowicz, JD, MSFS, AIF® AEP and Senior Financial Planner with REDW Stanley hosted a free webinar discussing how to capitalize on opportunities from the change in the tax law. ThinkAdvisor attended and provided this summary article, "4 Tips for Navigating Clients' Tax Questions."

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Posted in In The News, Tax Clarity, Webinar, Financial Planning, Joe Elsasser, Taxes, Retirement Planning, Tax Cuts and Jobs Act, Tax Law, New Tax Law, ThinkAdvisor

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

PLANADVISOR: Achieving ‘Tax Clarity’ on Retirement Income Is Possible in 2018

On Friday, Joe Elsasser, CFP®, president of Covisum spoke with PLANADVISOR's John Manganaro about the tax landscape looking into 2018, the updates we've made to Tax Clarity and what advisors should do to make the most of the changes from the Tax Cuts and Jobs Act of 2017.  

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Posted in In The News, Tax Clarity, Tax Map, Grow your business, Taxes, Tax Cuts and Jobs Act, 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

Help your clients avoid the "tax torpedo"

Social Security Timing® subscribers have helped clients save for retirement and have given them coaching on when to start taking Social Security benefits. But do you understand the impact of other income on the taxability of Social Security benefits?

Understanding how different sources of income interact is critical, according to Greg Geisler in the September, 2017 Journal of Financial Services Professionals. Because of how Social Security benefits are taxed relative to other income, it can

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Posted in Retirement, Tax Clarity, Taxes, Journal of FSP