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Pinnacle Enhancements. Please
click here
for highlights of current-year developments.
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Cash Flow & Estate Planner
Enhancements. Please
click here for
highlights of current-year developments.
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EstatePro Adds Detailed Gross Estate Report. A new report
shows the net worth includible in the gross estate of the first
decedent spouse in an asset-by-asset detailed listing.
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EstatePro Changes IRD Apportionment in the First Decedent's
Estate. EstatePro now handles IRD flowing through the estate
residue and to the surviving spouse outright via residuary bequests.
Income taxes associated with such bequests reduce the amount passing
to the cash management fund from the estate of the first decedent
spouse.
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Synergy Lets You Control Availability for Deficit-Funding
Purposes. You can delay or turn off the availability of any
portfolio for cash flow deficit-funding purposes, as part of a trend
or MCS analysis.
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EstatePro & GRAT Planner Add Target Remainder Option.
EstatePro and the GRAT Planner offer a new alternative for computing
the GRAT annuity that lets you set a target actuarial remainder
interest (and corresponding taxable gift).
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EstatePro Incorporates New Medicare Taxes on Earned & Unearned
Income. EstatePro incorporates the additional 0.9% Medicare
tax on earned income, as well as the 3.8% surtax on unearned income,
effective starting in 2013. Details are found in the online help and
user manual under System Conventions/EstatePro: Social Security &
Medicare taxes.
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Focused
Planners Incorporate
Medicare Surtax. Effective starting in 2013, the new
Medicare surtax on unearned income is computed on a user-defined
percentage of taxable investment income and realized gains. The new
tax is now reflected in all of the planners included in the
reconfigured
WealthTec
Suite setup's IRA Planning and Tactical Planning groups.
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EstatePro/DesignPro & EzEP/Vs Add Deferred Capital Gains Taxes to
Wealth Transfer Summary. Postmortem capital
gains taxes associated with lifetime gifts are included in the
Wealth Transfer Summary report when you turn those calculations on.
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Synergy & FinancePro
Incorporate New Medicare Taxes on Earned Income. These
planners incorporate the additional 0.9% Medicare tax on earned
income starting in 2013.
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Synergy's FICA Treatment Automatic for Certain Income Types.
"Salary" and "Bonus" are now automatically subject to FICA taxes. In
contrast, "Pension," "Social Security" and "Trust" are now
automatically exempt from FICA tax. The FICA Status input
fields are now also grayed out appropriately.
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2010 Plan Contributions in Were Previously
Inflation-Adjusted. Thomson Reuters, makers of zCalc™,
recently updated its algorithms so that 2010 qualified plan and IRA
contributions are now fixed values rather than being derived from
inflation-adjusted calculations (as they are for 2011 and beyond).
This change affects Synergy, FinancePro and EstatePro.
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Deferred Compensation Income Taxability in Synergy Now User-Defined.
The portion of deferred compensation income that is subject to tax
is now controlled by a user-defined variable. Previously, Synergy
taxed this type of income in full.
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Unrealized Gains in CRTs Now Reduced by Gains Triggered on Certain
Trust Payouts. Capital gains triggered on CRT payouts in
excess of ordinary income, qualified dividends, planned capital
gains and tax-exempt income in the aggregate were not reducing
unrealized gains in the trust. This fix affects the CRUT Planner, CRUT WRT Planner, CRAT Planner, CRAT
WRT Planner, DeferredComp CRT Planner, FlipCRUT Planner and RP CRT
Planner.
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Roth IRA Conversion
Planner Distributions Consumed Has New Option.
In the IRA DISTRIBUTIONS CONSUMED section you can now select "RMDs,"
in which case the consumption amounts in each scenario equal the
after-tax required minimum distributions in the Baseline Scenario
(over the period you define). These are distributions that are not
reinvested in the taxable account.
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Assumptions Page Reference
to Transfer Tax Laws In Effect Fixed.
In numerous modules the Tax laws to apply - estate, gift & GST
selection was not properly reflected on the Assumptions
schedule. This has been fixed. Calculations were unaffected, and
have always reflected the input selection made (i.e., this fix was
essentially cosmetic).
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Roth IRA Conversion
Planner Death Before RBD with Nonspouse Beneficiary Fixed.
Prior to the fix, if the IRA owner died before reaching his/her
required beginning date for RMDs and the beneficiary selection was
"Nonspouse" the tool would blow up.
