Release Notes for Version 7.02, released
This release features our first state-specific financial affidavit, for the state of Pennsylvania, a new "Marital Property" property division report, and employer contributions to IRA/401(k) funds.
1. Pennsylvania Assets and Liabilities Statement. This is a state-specific financial affidavit for the state of Pennsylvania. It follows the form suggested by Lynn Gold-Bikin and the firm of WolfBlock.
Each item on the form - each residence, investment, and so on -- must be created first in the Planner. Once that is done, however, you may enter the other Affidavit data either in the Planner (in the "Affidavit" section for each item), or you may enter the data directly on the Assets and Liabilities statement itself.
Any change you make in one place will appear in the other.
Also, when you print the forms, you will find that the printed form omits lines that appear as "zero entry" lines on the data entry form. Again this allows you the flexibility to change those lines from "zero" entries to entries with positive numbers on the data form, while giving you the neatly organized output you want (with zero lines omitted).
All these ideas are designed to give you the flexibility to work quickly and effectively, while producing top-quality filing documents.
In order to print the Assets, you need an enhanced subscription to the software. There is a link in the program in the Affidavits tab which you may click to upgrade your subscription. The cost of the upgrade is $19.95 per month.
2. Employer Contributions to IRA. You may now specify employer contributions to IRA and 401(k) type plans. You make this entry directly below the line where you enter the employee contribution. You may override each year's entry to specify increasing annual entries (or decreasing annual entries) by clicking the link below the employer contribution line, which is labeled "View/Edit Retirement Contributions."
3. Marital Property Division Report. You may now view a report that shows the division of "Marital Property" only. This is a companion to the existing Property Division report, which shows the division of total property. The division of "Marital Property" report is located in the Reports list, directly below the Property Division Report.
We have changed the chart at the bottom of both the Property Division reports to be the pie chart of property division.
4. Shared Custody in Minnesota. In Minnesota Child Support, we now support shared custody.
5. Minor fixes. We have made a number of fixes, including the following:
- Negative Residential Equity Permitted. We were forcing negative residential equity to be registered as separate property. Now negative residential equity shows as negative marital equity.
- Business Dividends and Affidavits. Dividends from a Family Business were being double-counted for the calculation of taxes for purposes of the General Affidavit, only. Now those dividends are being counted only once.
- Property Affidavit Bottom Line. The line for total net value was not appearing on the General Property Affidavit. Now it does appear.
- Line Thickness on Bar charts. In bar charts, in black and white mode, one of the lines was printing too thick. That has been corrected.
- Summary Expenses on Spending Report. The Spending Report was not picking up Living Expenses if the Summary Method was selected. The Spending Report now does pick up Living Expenses if the Summary Method is selected.
- Alimony Present Value on Calculator Tab. In the Calculator tab (not the Planner), the alimony present value calculation was not reducing the discount rate for the marginal income tax rates. Now it is reducing the discount rate for the marginal income tax rates.
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