VeriPlan estimates your lifetime annual taxes in 8 different tax categories
The VeriPlan tax planning calculator projects your lifetime annual tax payments in 8 different tax categories. VeriPlan’s fully integrated and automated lifetime annual tax calculator and retirement tax calculator capabilities automatically project your lifetime estimated taxes in these 8 tax categories:
- Federal income taxes on earned income, interest income, retirement income, and other income
- State income tax and local income taxes on earned income, interest income, retirement income, and other income
- Social Security and Medicare taxes on earnings, plus income taxes on Social Security payments in retirement
- Property and real estate taxes
- Federal income taxes on mandatory tax-deferred account withdrawals and on withdrawals to pay living expenses
- State income taxes and local income taxes on mandatory and needed tax-deferred account withdrawals
- Federal long-term capital gains taxes
- State income taxes and local ordinary income taxes on long-term capital gains
For every projection scenario that it develops for you, VeriPlan’s integrated income tax rate calculator and capital gains tax calculator functions automatically present easy-to-understand outputs in both graphical and data worksheet formats. To prevent obsolescence regarding its lifetime estimated tax calculator functionality, VeriPlan allows you to change any and all tax rates and tax limits, in case local, state, and federal income tax rates, property taxes, capital gains tax rates, and other tax rates or regulations change in the future.
A customer comment from the sidebar: "VeriPlan is a big help. I'm in my mid 50's and have been a diligent saver and passable investor for many years. I am going through a work transition from salaried corporate employee to independent consultant, and my aging parents are needing financial help. Financial planning is particularly important to me and my family now. Thanks for making your product available. I've recommended it to a number of folks and will continue to do so." J.H. in Portland, OR
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A customer comment from the sidebar: "VeriPlan has been a very flexible home financial planning tool. It took me a few hours on a weekend to understand what VeriPlan could do and to enter our financial data. Our family financial affairs were scattered all over, and we lacked a comprehensive picture of what the future might hold for us. I wanted a clear understanding of our projected lifetime and retirement income, expenses, taxes, debts, real estate, financial assets, college investments, retirement investments, and everything else all together." S. L. in Altadena, CA
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A customer comment from the sidebar: "You have done a great job of including the necessary instructions in VeriPlan, located close to where the modeling is happening. The thing I like about the VeriPlan User Guide is that it adds substantial additional commentary that I personally find very valuable. I was hunting for a capable and reasonably priced financial planning package, and VeriPlan is an awesome tool. The more I play around with it, the more valuable I find it. Your free user guide was what made me decide to get VeriPlan." C. A. in North Royalton, OH
Financial Planning Software for Individuals
A customer comment from the sidebar: "One of the stories that VeriPlan tells me is how much of my money could be lost to excessive investment costs. I just switched to some lower cost funds in my 401k. I loved updating VeriPlan with the new cost values just to see the red bar on the Total Assets chart get significantly thinner - quite a shocking difference." M. W. in Tulsa, OK
The Best DIY Retirement Planning Software
A customer comment from the sidebar: "I am extremely impressed with the depth of information that VeriPlan asks for and provides. VeriPlan seems much more detailed than one would expect for the very reasonable price. Although I am not a financial professional, I consider myself more financially educated than the most people of my age (62). I find that VeriPlan's depth to be just what we need for our retirement planning. I am glad I purchased it. Thanks." J. W. in Gainsville, FL
Financial Planning Software for Consumers
A customer comment from the sidebar: "I have been very happy with this software. I will put VeriPlan to work to help optimize our IRA to Roth conversions, while avoiding the IRMAA penalties if we can. We are in an opportunistic window for the next several years. I have been appalled by the lack of professional knowledge available with respect to the tax burden that will fall upon us when RMDs take effect. Most of the information I have found suggests that it isn't a problem. Luckily, this software will be of great benefit to chart our course." J. S. in Louisville, KY
Family Financial Planning Software
A customer comment from the sidebar: "I am a recently retired engineer, and I created a cash flow Excel spreadsheet for 25 years of retirement. So, I fully appreciate the data and potential variances that must be accounted for. Yet, mine is so very simple compared to VeriPlan. I love VeriPlan's concept of total control over inputs and parameters. Veriplan's objectives are very much like mine, but it has many, many more input and control options, and the price is spot on." L. G. in Southbridge, VA
Family Financial Planning Software for Consumers
A customer comment from the sidebar: "I've been using VeriPlan for a few weeks now, and it is everything I was looking for plus a whole lot more of what I didn't even know I needed. By simply switching VeriPlan to a state that does not have a state income tax, I can see how much I could save on traditional IRA distributions in retirement by moving to a state without income taxes. It is a real education in personal finance, and I think just about everyone would benefit from using this tool." T. H. in Silicon Valley CA
Financial Planning and Retirement Software for Home Use
On VeriPlan’s “11-Your Taxes” property and income tax calculator worksheet, you can set income and property tax assumptions and enter personal information about your:
- Tax filing status
- Federal income tax exemptions, adjustments, and deductions
- Your property and other non-income taxes
VeriPlan integrates both income tax estimator and capital gains tax software features, and it come already supplied with:
- Graduated US federal income tax rates
- Graduated, flat, or zero state income tax rates, as appropriate, for the 50 states and the District of Columbia
- New York City local income tax rates (You can easily add any alternative local income taxes that you may be subject to.)
- Social Security (FICA) and Medicare taxes
- Self-employment income tax rates and special logic
- Federal dividend and long-term capital gains tax rates
Automated yearly tax calculator projections
VeriPlan’s ’11-Your Taxes’ tax planning worksheet is designed to capture the key tax elements required to develop lifetime tax planning projections that truly reflect your individual and family tax planning situation. This estimated tax software also provides you with significant abilities to modify your tax related data, as your personal situation changes and as federal, state, and local tax laws evolve over the years.
Once you have entered your personal data into the VeriPlan pre-retirement and retirement income tax calculator and have begun to evaluate your personal scenarios, the importance of using financial and retirement planning software with sophisticated tax projection capabilities will become very clear to you. Financial and investment planning software is really quite useless, if it ignores your taxes or if it uses group tax averages that may not apply to your family. VeriPlan’s sophisticated tax planning features can really help to improve your efforts to develop a lifetime financial plan for your family.
A customer comment from the sidebar: "VeriPlan's financial projection graphics simply lay out what the future might hold for my family. Also, VeriPlan is a very fast and automated financial investment calculator that allows me to change anything and to test alternate investment decisions rapidly. Its integrated documentation explains clearly how it works, and it also includes a wealth of well-researched personal finance and investment information that has been very helpful." T. F. in Muncie, IN
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A customer comment from the sidebar: "I do most of my own financial modeling, and I like the way VeriPlan generates “what if” scenarios that I like to compare, such as possibly buying a rental property, selling my house and renting, moving social security retirement age payment timing, and pulling out IRA money after taxes. Plus, I like VeriPlan for its automated projection of detailed investment costs. Thanks for making a great product." K. W. in Naperville, IL
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A customer comment from the sidebar: "I am 10 years out from retirement, and I needed to start thinking more seriously about having enough to retire on. I'm following the suggestions of you and others in opting for more hands-on retirement planning. I am also using lower cost index investing. There are too many wealth management companies out there, all ready to charge an arm and leg for what should be straightforward financial planning work." G. B. in Smith Mountain Lake, VA
Financial Planning Software for Individuals
A customer comment from the sidebar: "Larry, Hello again! I've continued to work with VeriPlan, and the more I work with it the more I'm amazed at how much it does. It's an incredible decision support tool for my financial planning. Since I have already built a model of my lifetime finances, it is easy to test new ideas as they come to me. Thanks again." M. W. R. in Austin, TX
Family Financial Planning Software
A customer comment from the sidebar: "I first learned about the zero federal taxes on long term capital gains when under the 25% marginal income tax rate from working with VeriPlan a number of years ago. I’m no longer working but not yet receiving RMD’s or social security so my ordinary income is relatively low. So I’ve been taking full advantage of zero federal capital gains taxes by selling off my high expense ratio mutual funds which have a lot of capital gains built in since I’ve held them a long time and then I reinvest them in index mutual funds which don’t generate as much capital gains distributions. So the education that you and VeriPlan provide has saved me thousands in taxes, not to mention the expenses on high cost mutual funds. Thanks again." M. D. in El Paso, TX
Family Financial Planning Software for Consumers
This is an example of the projected lifetime annual tax payments graphic that is automatically developed by the VeriPlan tax planning worksheet software. A separate data table in row and column format also accompanies this graphic.
VeriPlan’s lifetime tax rate calculator inputs provide a variety of gray user data entry boxes for you to enter information about your personal tax planning situation. To easily find the tax information needed by this worksheet, just consult your recent federal, state, and local tax returns. In addition to U.S. federal, local, and state income tax calculator functions, you can also use this VeriPlan property tax calculator worksheet to enter information about your property taxes and certain other taxes.
From your earned income, VeriPlan’s fully integrated state and federal tax calculator and self employment tax calculator software will automatically deduct federal and state ordinary income taxes, Social Security taxes (FICA), Medicare taxes, and additional self-employment taxes, if needed. Using the appropriate tax filing status, tax tables, and taxable income, it will automatically determine and deduct these taxes. The VeriPlan retirement planning software also includes fully integrated and automated Social Security tax calculator, pension tax calculator, and retirement income tax calculator capabilities.
Automated annual after-tax projections of net investments and withdrawals
In any particular projection year, if positive net earned income remains after your expense, tax, and debt payments have been made, then these positive net earnings will be invested according to your VeriPlan settings on its various investment-related retirement planning worksheets. If you have negative net income in any particular year, then this shortfall will be made up through automated withdrawals from your projected financial assets. Your projected financial assets include cash, bonds/fixed income, and stock/equity assets held in taxable and/or tax-advantaged retirement accounts. Projected withdrawals will be taken automatically in accordance with choices that you have made on VeriPlan’s financial planning tools worksheets.
In any particular projection year, short-term capital gains taxes, long-term capital gains taxes, and income taxes will be applied automatically in accordance with current federal, local, and state income tax rates and investment taxation rates and rules. With VeriPlan’s yearly tax calculator projections, your projected ordinary income taxes, short-term capital gains taxes, and long-term capital gains taxes will be deducted from asset returns, as appropriate.
In addition, net earnings on investment assets will be reinvested automatically. Reinvested asset returns will be net of both these taxes and your projected investment costs. Any tax basis that you may be carrying for a particular asset will also be automatically decreased or increased, as appropriate.
Whenever you would have a projected yearly earnings shortfall — after expenses, taxes, and debt payments have been made — then VeriPlan will automatically withdraw the necessary funds from your financial assets and apply the required distribution taxes to make up that cash flow shortfall. Most individual taxpayers figure their taxes on asset related gains and losses and make asset tax related cash payments, in the first few months of the subsequent year, as they calculate and file their income tax returns. Therefore, the VeriPlan pre-retirement and post retirement withdrawal calculator deducts these cash tax payments related to required asset withdrawals after the beginning of the following year.
Automated lifetime capital gains tax calculator projections
The VeriPlan lifetime tax planning calculator will also automatically project appropriate taxes related to the taxable yield on your assets and on any capital gains than would be recognized associated with the sale of financial assets. Separately and automatically, the VeriPlan capital gains tax software will project ordinary and capital gains taxes associated with required minimum distributions from retirement accounts and related to asset sales to raise cash to pay for any projected yearly shortfalls between your future income and expenses.
Cash interest and bond interest in your taxable financial asset accounts will automatically be taxed in any projection year at federal, state, and local ordinary income tax rates. Regarding capital gains taxes on equity assets held in taxable accounts, you can project that some percentage of your annual returns would be taxable distributions. Information from your federal tax returns can help you with these estimates.
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
To understand VeriPlan's features and capabilities go here:
In summary, VeriPlan provides numerous flexible and automated methods to project the estimated impact of federal, state, and local taxes on your future financial situation. In addition, VeriPlan provides numerous methods for you to customize and adjust its tax rates, tax limits, and other assumptions.
Note that the VeriPlan retirement planning software implements a “conservative” modeling approach, whenever a choice is available. Therefore, projections are more likely to over-state rather than under-state your projected lifetime yearly tax burdens, given current laws and rules. This means that your continued attention to tax optimization for your particular situation as the years go by might yield modest favorable gains relative to the specific tax assumptions that you have chosen to use in VeriPlan.
A customer comment from the sidebar: "I am a recently retired engineer, and I created a cash flow Excel spreadsheet for 25 years of retirement. So, I fully appreciate the data and potential variances that must be accounted for. Yet, mine is so very simple compared to VeriPlan. I love VeriPlan's concept of total control over inputs and parameters. Veriplan's objectives are very much like mine, but it has many, many more input and control options, and the price is spot on." L. G. in Southbridge, VA
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A customer comment from the sidebar: "Thanks for developing a great product. I have looked at Money Tree, Money Guide Pro, and some other FP software, and I have used Right Capital (a good product also, but still $100 per month). Yours is just as robust for a much more affordable price. I also extensively use Quicken for my finances, but the planning tool in it is kind of basic, so VeriPlan will complement Quicken very well." E. Z. in San Mateo, CA
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A customer comment from the sidebar: "I spent parts of the past several days entering data into the VeriPlan workbook while digesting as much of the methodology as possible. My takeaway is that VeriPlan is an extraordinary tool, especially in its ability to generate projections based on detailed alternate scenarios. During the learning process, I also found it to be a wonderful financial education in its own right." S. N. in Sammamish, WA
Financial Planning Software for Individuals
A customer comment from the sidebar: "Previously I used some consumer retirement planners like New Retirement. What they offer is a projection of your financial situation that is wildly generalized. A generalized projection is probably better than having no projection at all and could very well be used for rough, long-term planning. However, for fine grained planning, such a system is wholly inadequate. VeriPlan is vastly superior in comprehensiveness and flexibility." T. D. in Edison, NJ
Family Financial Planning Software
A customer comment from the sidebar: "I purchased VeriPlan for the Roth conversion features. I enjoy VeriPlan and appreciate the thoroughness of the design and excellent commentary. I now work for (financial company name redacted) since retiring from (computer company name redacted) in a Retirement and Workplace Planning role. The accuracy, conciseness, and utility of the information presented by VeriPlan is great." M. S. in White Plains, NY
Family Financial Planning Software for Home Use
A customer comment from the sidebar: "I've been using VeriPlan for a few weeks now, and it is everything I was looking for plus a whole lot more of what I didn't even know I needed. By simply switching VeriPlan to a state that does not have a state income tax, I can see how much I could save on traditional IRA distributions in retirement by moving to a state without income taxes. It is a real education in personal finance, and I think just about everyone would benefit from using this tool. I am going to tell everyone I know about VeriPlan. Thank you very much for creating it. Your web sites are great, too." T. H. in Silicon Valley CA
Financial Planning and Retirement Software for Home Use
A customer comment from the sidebar: "I thought I would let you know that VeriPlan was the primary decision support tool in my decision to retire early, which was about 4 years ago now. And it has worked out really well. Since then I got married, and we have traveled to 10 countries -- some on mission trips. I had used the lifetime planners in Microsoft Money and Quicken but they were not robust enough to make a major decision with. In retrospect they are toys compared to VeriPlan. So VeriPlan has been a very big help to me. Also, I recently read your Lowest Cost Mutual Funds book, which was great. It brought a few things to my attention that I need to work on." Email update from T. H. in Silicon Valley
Family Financial Planning and Retirement Software
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See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
See a complete list of VeriPlan's features and capabilities
