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    Roth Conversion Cheat Sheet For Financial Advisors [Free Handbook]

    As markets recover, converting part of a client's traditional IRA into a Roth IRA can offer significant long-term tax benefits. Any of the recovery would be tax-free. In addition, smaller Roth conversions early in retirement can reduce later RMDs, spreading out the  tax liability more evenly throughout retirement. So, we've gathered everything you need to know about Roth conversions into one place to make it easier for you to help clients take advantage of this strategy. 
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    In The News

    The SECURE Act: What Advisors Need to Know

    New Legislation Offers Significant Retirement Income Planning Changes The Setting Every Community Up for Retirement Enhancement Act or the SECURE Act was signed into law last week, and the new legislation offers significant retirement income planning changes. For advisors who specialize in retirement income planning, particularly for the mass-affluent, the legislation includes three major changes to review.
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    Joe Elsasser

    A Look Back at 2019, A Look Forward to 2020

    A Note from the President Covisum Founder and President, Joe Elsasser, CFP®,  highlights some of Covisum's best and biggest moments from the past year and what subscribers can look forward to in 2020.
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    Tax

    5 Reasons You Should Try Tax Clarity Right Now

    As 2019 starts to wind to a close, now is the perfect time to check out Tax Clarity®. The software helps you quickly identify sub-optimal situations and show clients tax opportunities. Use Tax Clarity to calculate your client's effective marginal tax rate and identify dangerous points where an additional dollar of income can create a much higher effective marginal tax rate.  Here are five reasons that right now is the perfect time to start a 10-day free trial of the software.
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    Tax

    Tax Cuts and Jobs Act: What Your Seminar Attendees Need to Know

    Addressing Tax Legislation in Your Financial Planning Seminars Significant changes brought on by the fairly recent Tax Cuts and Jobs Act (TCJA) have created some fantastic opportunities for strategic advisors. Offering a “taxes in retirement” seminar at your local library or community college, allows you to educate the public about the changes and gain some potential clients. However, the legislation is extensive and you don’t want seminar attendees to lose interest by diving into all of the details. Here are five topics that you need to address in your taxes in retirement seminar.
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    Joe Elsasser

    Exciting News—We're Moving!

    We are moving! The Covisum team is growing rapidly and we are very excited to announce that we are moving to a bigger space to better serve our customers. 
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    Tax

    The Value of the Tax Map for Your Clients

    Covisum's software started out as services in my own financial planning practice. We use Tax Clarity® at least once per year with every client, mainly because skipping it just doesn’t make sense. Let me explain our thought process: We get at least one client referral each year to provide a Tax Map and advice on a tax-efficient retirement. The lifetime value of a client to our practice is over $15,000. It’s a no brainer to spend $960 on software to make that happen.
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    In The News

    Clearing up the Annuity Bonus Confusion

    Bonus. Sounds great, right? It sounds like “extra.” Getting a bonus is a good thing… right?It’s easy to understand why bonus annuities can be appealing to consumers. For years, annuity carriers have offered bonus annuity contracts, offering an up-front dollar figure that’s added to the account value, usually upon issue of the contract. This annuity bonus amount is commonly based on a percentage of premium. For example, if an annuity is started with an initial $100,000 premium, and the bonus is 10 percent, then $10,000 will be added to contract value on day one for a total contract value of $110,000.
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