FinPlan Divorce Planner®

The user enters a simple set of facts with easy-to-use menus. The software will then use this information to calculate CO support, calculate all taxes, and generate 15 output reports based on a single set of data. The user can then do "what-if" analysis from the unique, single analysis screen in which input can be changed and resulting after-tax figures can be instantly viewed. Alimony analysis is simple because you see the results of different alimony amounts on a single screen, including revised child support, and taxes are complete and accurate.

Creating Report of Different Support Alternatives
You use the Analysis Screen to review different support alternatives (add alimony, change who claims the kids, create family support - no child support etc). You can then create a report with relevant support alternatives displayed side-by-side for use with clients and Courts. When support alternatives are created and posted, the user will then print the desired output reports. After-tax cash reports are available in detail or highlights formats. This Summary of Support Alternatives is not restricted to different alimony amounts - any variable can be changed allowing quick examination of the impact of claiming child dependency exemptions or family support (all alimony and no child support). A separate report allows for instant review of 3 alimony levels set up in a side-by-side report.

Output reports can be exported into Word for additional editing.

On-screen help answers questions on divorce taxes and guideline child support.

Tax calculations are very accurate and software automatically calculates the federal Alternative Minimum Tax (AMT). The AMT is now very important in many high income divorce cases in that this "hidden tax" may significantly erode the expected tax savings in alimony cases from individuals being in different tax brackets.

Problems with Alimony in higher income cases
Many practitioners are going to be seeing some very counter intuitive after-tax figures in higher income alimony cases (income range for payor from $200,000 to $450,000 and lower as AMT hits more people). The tax law changes of 2003 are going impact many divorces in that the Alternative Minimum Tax (AMT) is going to be a factor by reducing or totally eliminating the favorable tax impact of alimony from different tax brackets. An annual alimony amount of $50,000 might have been expected to create joint tax savings from different tax brackets of $5,000 ($50,000 times 10% tax bracket difference) might now create only $2,000 of tax savings. Alimony may not be worth very much in some high income cases because of the Alternative Minimum Tax which is greater in states with high state and local tax rates. FinPlan software automatically calculates the Alternative Minimum Tax so you will always be aware if the AMT is eroding the value of alimony in a divorce.

Posting Different Tax Scenarios
5 different tax scenarios can be posted in a side-by-side comparative report making evaluation of the timing of divorce (this year vs next year) very simple. A Married, Joint tax calculation is automatically prepared based on your case facts for the two individuals.

FinPlan Divorce Planner's Unique Capabilities to Keep You from Making Mistakes
FinPlan is the only family law software that will alert you before you make mistakes. You will be informed that alimony in lower income divorces may actually increase the joint taxes (from loss of Earned Income Credit) so you instantly know when NOT to use alimony (you can use non-taxable spousal support). You can instantly see the tax savings from either parent claiming the child dependency exemption and under 17 tax credit. You instantly know if the AMT is impacting your case. FinPlan doesn't just calculate numbers - it interprets numbers to show divorce professionals how to use taxes to increase the total after-tax cash available to the parties. Lower taxes equate to more total cash so there is more to share. FinPlan software has been showing family lawyers, mediators and financial professionals how to maximize cash in a divorce for more than 16 years. Simply stated, FinPlan has a proven track record and several thousand satisfied customers all across the country.

Several CO specific output reports are shown below. You need to have Adobe Acrobat Reader to view these reports. If you do not have Acrobat Reader you can download a free copy at Adobe's Acrobat web site. 

• After-Tax Cash Annual Numbers
• After-Tax Cash Highlights Format
• After-Tax Cash Monthly Numbers
• Alimony Alternatives Side-by-Side
• Analysis Screen
• Child Care Credit Tax Calculation
• Child Dependency Exemption Tax Savings
• CO Child Spt Worksheet - Shared Parenting
• CO Child Spt Worksheet - Sole Residential Parent
• CO Spt Worksheet - Spousal Spt Pendente Lite
• Federal Tax Calculation
• Graphs After-Tax Cash
• Social Security Tax Calculation
• Tax Summary (1 page)
• Support Alternatives Side-by-Side
• Tax Alternatives Side-by-Side
• Under Age 17 Child Tax Cr Tax Savings