Financial Planning Software

At the main screen, choose Options then System Setup.

At the main screen choose Options then System Setup

Yes, the software will use an actuary table if no life expectancy is given; however, you may choose the length of life by going to the General tab and then the Planning/Tax Parameter button and then enter your desired life expectancy.

You may change the default for all plans by going to Options then System Setup then enter a default rate of return for excess cash flow. You can also change the rate for a specific plan by going to the General Tab then choosing Tax/Planning Parameters then entering the amount here.

If you Average idle cash keeps growing, then your projected surplus cash is not being reinvested. Go to the Assets tab and choose Cash on Hand make sure a value is entered here. If one is entered, but you still are not getting a reinvestment, re-enter a value. Note; this value must be at least 100.

If your Average idle cash becomes negative, then Express is not liquidating assets to meet shortfalls. First make sure you have assets to sell. Express will only liquidate liquid assets. This includes cash accounts, bonds, equities, and IRAs only. If you have assets and you still have negative values for Cash on Hand, then go to the Assets tab and choose Cash on Hand make sure a value is entered here. If one is entered, but you still are not getting a reinvestment, re-enter a value. Note; this value must be at least 100.

Go to Options, then choose Report Options then choose Page Setup and select Yes for Print Ages in Header Columns.

This entry DOES not increase the annual value for assets, expenses or income. It is used for inflated government items such as qualified plan contribution limits, standard deduction amount, personal exemption amount, tax tables (brackets). NOTE: a higher inflation rate will reduce your client?s tax liability.

Yes, as you buy sell or reinvest dividends, ExecPlan will adjust the basis accordingly, and upon the sale of the asset, determine the appropriate amount of income subject to capital gains.

You may rollover a company plan or other retirement plan into any IRA or Roth IRA. Simply create the IRA you would like to roll into, entering the appropriate rate of return and the ownership. Next, note the DSI number found at the top left hand corner. Then proceed to the 401k plan or Other Retirement plan that you want to rollover. Click on the Rollover/Lump Sum Distribution field; enter the Date for rollover, the IRA DSI number and the % to Rollover (usually 100%). Roth for 2010 will have the tax taken ovr two years: 2011, 2012.

There is no loss limitation rules or passive activity rules applied to this field. If the asset is generating a loss greater than the loss limitation rules or is passive, you must make sure you limit your losses. This can be done by entering some or all of your expenses in the Cash Contribution field.

When entering a business asset, if the asset is generating cash flow regardless whether it is taxable or not, you must enter the gross amount in the Cash Distribution field.

When entering a business asset, if the asset is generating taxable income regardless whether it is cash flow or not, you must enter the gross amount of reported taxable income in the Ordinary Income field. Express will deduct the allowable cash expenses and depreciation if applicable to obtain the net taxable income.

After entering the mortgage enter in a Balloon Month and Year. Next create a new mortgage, enter the new amount, term and interest rate. Then enter a starting year and month (usually the month after ballooning the first mortgage. Finally you must give yourself the gross proceeds of the new mortgage to payoff the initial mortgage. For example if the new mortgage is $200,000 you must go to the Income tax, choose Tax Free income and enter mortgage proceeds of $200000.

Enter 0 for the term of the loan

In liabilities, go to the ownership tab, here you will find a field to enter an extra monthly payment.

Express calculates the principle portion and the deductible interest portion and lists them separately on the cash flow statement. When a mortgage exceeds the allowable deductible interest for loans greater than $1,000,000, Express will list three items for the mortgage one for principle payment, one for deductible interest and one for non deductible interest until the balance falls to below the $1,000,000 level.

Enter a life insurance policy, and in the ownership field choose ILIT as the owner.

Choose an asset that best describes the trust asset and then choose Trust for ownership. Please note that express will not do a separate tax calculation for trust taxes, so any return on the asset should be net after taxes, unless of course the trust distributes its income to the client, in which the client will be responsible and express will calculate it.

Any asset that is in a revocable trust should be entered as either client, spouse, joint or community. Assets in revocable trusts are still subject to estate taxes and the purpose of the ownership code is for express to designate which assets will pass outside of the estate. If you client is using the revocable assets to fund an A/B trust, Express will automatically fund the trust with assets held by the client or spouse up to the UTC limit of the chosen year of death, if you choose a UTC sheltered will.

Express allows the user to enter different values in these sets to give the flexibility to change not only growth rates, but to start and stop values at any time. To make an asset grow or shrink, simply first enter the current value, then hit enter. In the following year enter a % sing in front of your desired growth rate. For example %4 will grow a value 4 percent a year thereafter. %-7 will decrease a value 7 percent every year thereafter. You may also use the < or > to grow or decrease by a fix amount. For example <25000 will reduce the value by 2500 a year thereafter.

Make sure you enter a contribution amount in your IRA field.