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Release Notes for Version 6.14, released Sept 23, 2004
Update 10/4/2004 - build 283 (see note below)
This version has enables Property Settlements, enhances the Negotiate tab, improves liquidations, and enables the ordering of Client Editions online.
Enhancements to all editions:
1. Property Settlement. We have added a way to enter up to ten future property settlement payments. This is on the new "Planner / Property Settlement" screen.
2. Exemptions. Tax exemptions may now be specified to alternate years, that is, one year with one parent then one year with the other.
3. Negotiate / What-If Support And Alimony. We have significantly simplified this calculator. Now, you can simply change the proposed support and alimony payments, and the software will immediately display After-Tax Cash and Net Worth for the total number of future years.
4. Downpayments. Downpayments on homes to be purchased in the future will now be automatically deducted from Accumulated Savings, and then from Investments. If you wish to have downpayment not deducted from Investments, you may clear the relevant checkbox on the Planner / Assumptions page.
5. Liquidations. For sales of securities to cover net cash losses in low-income situations, we have improved our estimation of the amount of tax that will be paid on the securities that are sold for the liquidation.
6. Liquidations also: The software now defaults to having Liquidations "off." As a result, negative cash flows will appear on the After-Tax Cash report. These negative after-tax cash figures will then increase the deficit in Accumulated Savings.
7. Build 283 10/4/2004 California Child Support. In California, we now automatically do not count a child if the child will be over age 18 at the end of the current calendar year.
Enhancements to Professional Edition only:
1. Negotiate / Alimony PV/Buyout Screen. This screen was simplified and clarified, and the results were moved to the top.
2. Negotiate / Alimony recapture. This screen was split into two screens. One is a pure "What if" calculator. Enter proposed alimony amounts. Then, the software will calculate whether there would be alimony recapture. It will also calculate estimated tax, based on the alimony payer's anticipated tax bracket in the third year after the divorce. The other one is a simple report that shows, for the current case, whether recapture actually applies, and the estimated third-year tax cost.
3. Negotiate / Equalization payment. This screen has been simplified and clarified, so it is much more useful.
4. Negotiate / Alimony Savings. This is a new screen that automatically calculates the tax savings to the alimony payer, the tax cost to the alimony recipient, and the net tax savings. It does this for each year alimony is scheduled to be paid. This results in a cumulative tax savings, tax cost, and net tax savings.
5. Negotiate / Filing Status. This screen was completely rewritten. Now, this screen calculates the tax under all possible combinations of filing status and then makes a recommendation as to the best filing status. It shows how much money can be saved, that is, the tax savings between the recommended combination and other possible combinations.
6. Negotiate / Exemptions. This screen was completely rewritten. Now, this screen calculates the year-by-year savings to having one party claim all the exemptions, versus the current situation. It also automatically calculates which party would be the best one to claim the exemptions. And it automatically calculates the tax benefit for each year and cumulatively over all years that the children will remain as exemptions.
7. Delete File. It is now possible in the Files / File Management screen to delete the current file.
8. Renew subscription. You may now renew your Family Software Subscription by clicking the Home / Ordering Software / Renew button.
9. Order client edition. You may now order a client edition online. The client edition allows you to give software for entering the data to a client or clients. The client may fill in his or her (or their) own data. You may order with your own credit card, or enter the client's card. You may specify that the CD will be sent directly to the client, or to your office. Instructions on downloading the software will be sent to the e-mail address or addresses that you specify.
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