Q: What are differences between Windfall Elimination Provision (WEP) and Government Pension Offset (GPO)?
A: While both the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) are aimed at reducing Social Security benefits for people who receive a pension from work in which they did not pay into the Social Security system, they differ in who they affect and how they impact benefits. You can get more information about WEP and GPO here.
Posted in Social Security Timing, Social Security, FAQ, Social Security Benefits, Social Security Administration
Q: What does SmartRiskTM do?
A: SmartRisk uses a heavy-tailed model to provide more precise portfolio risk measurement, because the actual risk of big losses in client portfolios is much greater than the standard deviation calculation would suggest. SmartRisk doesn’t show what we think will happen; it’s what could happen. This more realistic estimate of risk allows advisors to have a conversation with the client in advance of the next downturn, and set reasonable expectations. In addition,
Posted in SmartRisk, portfolio volatility, portfolio risk, Advisor, FAQ
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.
Posted in Webinar, On-Demand Webcast, Taxes, Tax, Joe Elsasser, Tax Clarity
In a recent article for Forbes, Covisum President, Joe Elsasser, CFP®, suggests that despite a recent resurgence, the gig economy may not be nearly as beneficial for the individual or the company as previously suggested.
While a gig economy lowers fixed costs for businesses and provides more autonomy for people to do the work they want to do, the negatives far outweigh the benefits. Here's an excerpt:
Posted in Forbes, Joe Elsasser, gig economy
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?Posted in In The News, Joe Elsasser, Tax Clarity, Social Security Timing, SmartRisk, financial advisor, Advisor
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 offers suggestions for financial advisors who may be advising an elderly client in the early stages of dementia. Advisors can do a few things to make this difficult situation easier and add additional value to their most vulnerable clients.
Posted in Hidden Value, Joe Elsasser, ThinkAdvisor, Clients, financial advisor
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
Posted in Tax Clarity, Taxes, Tax Map, FAQ
In a recent article for Forbes, Covisum President, Joe Elsasser, CFP®, highlighted the benefits of choosing a planning-oriented advisor who will encourage you to make smarter financial decisions.
Planning-oriented advisors are particularly adept at seeing the big picture. They ask their clients the tough questions to help them see the impact of every financial decision and how those decisions impact long-term financial goals.
Posted in Forbes, Joe Elsasser, financial advisor, Advisor, Clients
Call us a SaaS company, a fintech leader or a software company, but we believe we are more than that. Recently, we sat down with Katie Godbout, our director of sales and marketing, and asked a few questions about Covisum.
A lot of people ask that, not surprisingly. Phonetically, it's "ko-vee-some." Lots of times, people add an extra syllable, and say something like, "ko-vee-see-um." It's not a word used in normal conversation, so I can understand why it's hard
Posted in Marketing Strategies, Marketing, Culture
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.
Posted in ThinkAdvisor, Hidden Value, Joe Elsasser, Taxes, Retirement, Tax Clarity
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