Category: Truth Tips

Truth Tip, Asset Flow

In the Asset Flow calculator, you can roll a tax-advantaged account into a new account (like a spouse’s account) at death.  It must be done manually, as the calculator is designed to show what happens at liquidating. In Asset Flow, show the principal amount distributed at death going into another IRA (or similar) account the next year with the “Tax Deductible Contributions” box checked. The tax deduction in the new account will offset the taxes paid in the old account for a net “0” tax. You will, however, have to

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Life Insurance Values Tool: Importing Lafayette Life Data

Though the calculators are the meat of the Truth Concepts software, the tools included are an invaluable time-saving resource. In calculators such as Funding, Borrowing, Diversification, Accumulation, Distribution, and Asset Flow, the Life Insurance Values tool cuts the workload significantly. Rather than continually copying & pasting life insurance values, you can import life insurance illustrations directly into your calculator from previously stored data. So where does that data come from? Fortunately, there’s no initial copying & pasting at all. Instead, you can import the information straight from an insurance illustration

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Truth Tip, Qualified Plan

To get spread sheet detail, turn on “term ins. and emp. cost” button. (This works whether or not you have term insurance or employee costs that you wish to add.) Close anytime (top left corner of spreadsheet) and to view again, click button again and then “inputs.”

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