I am going to testify in court about the pension valuation.
Here are some things you might want to be comfortable about before taking the stand: 1. Interest rate. This is a user entry, although the software will suggest a current 20-year Treasury Bill rate as of the date the pension is first entered into the software. The link below shows 20 year treasury bill rates […]
How can I change the description or label of an expense item?
1. On the screen where you enter expenses, click the party’s name at the top of the screen. This will show the expense of just that party. 2. Scroll down to the item you want to rename, and click “more info.” 3. You will see the label, with an option to overwrite it. Note that […]
How should I enter vehicle (car, truck) expenses in the software?
There are a number of ways to enter vehicles into the software, depending on the situation. Asset side: Personal Items. Most people will want to enter the current market value of the car, or an average value, as a Personal Item on the screen where you enter assets and debts. Payment side: On the payment […]
How do I enter itemized deductions?
There is no separate grouping for Itemized Deductions. They are simply entered among the Living Expenses. When you enter property taxes, charitable contributions, etc., the software knows they are itemized deductions and treats them accordingly.
Why am I not seeing any current income on the investments? Or, why am I not seeing appreciation?
To enter income on an asset, go to the “more info” screen for that asset, and enter income in its appropriate tax category. Enter annual appreciation in the field for appreciation. Current income will be taxed currently, based on the tax category you specify. If you enter net cash flow instead of a Rate (%), […]
How does the software show compounding of reinvested income?
The way the software shows compounding of reinvested income is as follows: At the end of the year, any positive after-tax cash (the last column on the Net After-Tax Cash Flow Spreadsheet) is moved into an account called the “Accumulated Savings” account. Our goal with this Accumulated Savings account is to mimic the performance of […]
How do I change the first year (current year) for child support calculations, cash flow, taxes, etc.?
In the Cloud, click the Settings tab > Assumptions, and change the Start Year. In the desktop software, click Files & Settings > Assumptions, and change the Start Year.
How do I handle reimbursement from marital property for payment by one party of the other party’s separate debt?
Just specify that the debt is a separate debt of the Party A, and that Party B will pay it, and then reach a 50/50 division in the Property Division worksheet as you normally would. Let’s explore how this works. To clarify, this is a situation where the Party B is paying Party A’s separate […]
How do I handle reimbursement from marital property for the expenditure of separate assets for marital purposes (Epstein credits)?
This covers the situation where a party has spent separate funds for marital purposes. And now that party is being reimbursed from the marital assets for that expenditure. This can happen if, for example, post-separation income is used to pay marital debts. In California, this reimbursement is known as “Epstein Credits.” If the property division […]
How do I handle reimbursement from marital property for the expenditure of marital assets for separate purposes?
This is the situation where a party has spent marital funds for separate purposes. The classic example involves a spouse who spends money on a party outside the marriage. The other spouse wants to be reimbursed for that expenditure. If the marital property division is 50/50, the amount to be reimbursed is half of the […]