Category: Asset Flow

Truth Tip, Asset Flow (Social Security)

When filling out social security income, there’s a “trick” to doing it correctly. First, you’ll go under the “earned income/ss” tab. If you’re including social security income for someone who has been taking the income, you should do the COL adjustment (if needed) manually. Let’s say you have a 70 year old, and he began taking his social security benefits at age 66. Input the amount he was initially taking, at age 67, so that Asset Flow calculates everything correctly. Then you can choose to include a COLA if you

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Truth Tip, Capital Gains Tax in Asset Flow

Hello, new update! Asset Flow is known as our “everything-AND-the-kitchen-sink” calculator, and it just got another feature! Todd has added the ability to tax income at capital gains rates, in addition to the regular income tax rates. This is a great tool for clients who might have income coming from a trust, real estate, or other property that is taxed as capital gains. The update allows for an individual portion of the income to be taxed at this rate so that it won’t impact the tax brackets of other income.

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Truth Tip, Saving Asset Flow Files

Asset Flow is one of those awesome and mind-boggling calculators that truly does it all. That’s why we love to talk about what it can accomplish. One fantastic feature is that it plays well with our other calculators. It’s important to note, however, that there is a trick to saving it with another calculator in one file. If you have already saved Asset Flow, keep it open when pulling another calculator up. For example, if the Real Estate Calculator is open, ensure that Asset Flow is also open. Otherwise, when

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Truth Tip, IRAs in Asset Flow

In the Tax Advantaged section of Asset Flow, the “IRA Account” button is used to keep IRA accounts for spouses separate. This is largely for tax purposes because the cost basis of all assets, for each spouse in an IRA, are considered in the cost basis determination. If there is no cost basis, check the “Tax Deductible Contributions” box. Otherwise, the account will use all contributions in the first few years as a cost basis to offset the distributions, rather than spreading them out. Turning the button on will divide

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Truth Tip, “Old Money” in Asset Flow

All Present Value dollars in our calculators are assumed to be old money—dollars that the client already has access to when beginning an illustration. If an asset is then added as a Present Value, without that money being pulled from existing dollars, data will appear skewed. When illustrating a client’s money being pulled into a new asset, make sure that money exists elsewhere in the illustration. First, you’ll want to ensure that the money being shifted into a new asset is accounted for in the initial Ordinary Taxable Account. When

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Asset Flow Master Class, March 2023 | Gain confidence in helping clients meet lifelong finance objectives.