The brackets for the Net Investment Income Tax (NIIT) are not indexed to inflation, as opposed to federal income taxes, which are indexed to inflation. This means that over time more and more people will be paying the NIIT because, generally speaking, incomes move with inflation. As people's nominal income increases, they move into a higher tax bracket for the [...]
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168 ArticlesHow are taxes on investment growth for taxable investments paid?
If the primary plan participant has not yet retired, the program assumes that taxes on dividends and interest are paid for out of salary. During retirement, these taxes are taken out of investment growth. Capital gains are [...]
I plan on withdrawing early from my IRA before age 59.5. How do I do this?
You can withdraw early and tell the program whether or not you will be penalized on the withdrawal using the setting for 'Allow Early [...]
I will have a part-time job in retirement. I added this in the Additional Cash Inflows section. But I don't think payroll taxes are being taken out. How do I account for this?
Payroll taxes are not deducted from entries in Additional Cash Inflows. You will want to add payroll taxes for the part-time job as an expense in the Goals & Additional Expenses section. This expense should begin when the part-time job does, and should end when the part-time job [...]
If I die before my wife she will be eligible for my Social Security via spouse benefit, but because she has a pension as a government employee her take of my Social Security benefit will be reduced by 2/3 of her pension. Is there any way to model this?
The best way to handle this is to force a switch in her Social Security and to not allow her to take yours. In the screenshot below you can see how to set the changed amount to whatever she would receive once you are projected to pass [...]
Why does the percent of my Social Security that is taxable increase until it hits 85%?
Social Security brackets are not indexed to inflation. This means that over time more and more people will be paying higher taxes on their Social Security because, generally speaking, incomes move with inflation. As people's nominal income increases, they move into a bracket where more of their Social Security is deemed [...]
When WealthTrace applies annual returns does it look at the fees of each fund I own and subtract it?
WealthTrace applies annual returns based on the .Although the program can show you the fees you pay on the funds and ETFs you own in the Investment History section, it does not deduct those fees from the annual return. However, you can [...]
What should I do if I can’t log in?
If you use a password manager or browser password plug-in, try entering your password manually. In some cases, password tools can interfere with the login process.If that does not resolve the issue, please contact so our technical team can review [...]
Why can’t I delete these entries?
The Social Security inflow and Annual Living Expenses entry are built into WealthTrace and cannot be deleted.If you do not want to include either one in your plan, set the amount [...]
When I add a new house purchase under Other Assets & Liabilities do I also need to add the costs for the sale under Goals and Additional Expenses and do I need to add the sale of the house under Additional Cash Inflows?
When adding a lialbility the program will ask you if you want to also add this to the Goals & Additional Expenses section. If you select Yes, the program will automatically add the payment for you as an expense in the Goals & Additional Expenses section. If you select No, but want it as an expense, you must manually add it to this section. If you plan on selling an Asset, you must add this sale to [...]