I recently purchased ESPlanner and I could not figure out how to get the software to calculate a minimum of 10% charitable contribution. I don't want to just say it's 10% of the consumption because of the tax implications.
Taxes are a big reason why I purchased the software.
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bhwright3rd at gmail.com wrote:I recently purchased ESPlanner and I could not figure out how to get the software to calculate a minimum of 10% charitable contribution. I don't want to just say it's 10% of the consumption because of the tax implications.
Taxes are a big reason why I purchased the software.
You can enter as a special expense (SE) and choose the appropriate tax implications. I can't see how ESplanner can calculate what the tithe amount should be... you could figure a senario with the SE and without to estimate the value.
And don't forget that you can output your results in Excel (just check that box when you generate a report) and from that report it would be very easy to create a corresponding column that shows 10% of any column you have in your report.
Dan
I'll approach it a different way - feature request.
It would be nice to be able to specify that a percentage of net "income" be allocated for a special expense. If ESPlanner determined that I should live off of $60,000 for 2008, $70,000 for 2009 and I specify 10%, $6000 and $7000 would be assigned to the special expense for 2008 and 2009. If the inputs were changed and the new values were calculated as $56,000 for both years, $5600 would be automatically "allocated".
This reduces the data entry requirements and the potential errors when multiple scenarios are executed.
Lastly, these special expenditures need to have the appropriate tax treatment in the program. In my case, they are charitable contributions and would lower my AGI.
I've put it on the list. No guarantees it will be done, but it will get discussed.
Best,
Dick Munroe
Hi, I'll second that feature request.
Having an automated tithe or giving as % of income OR total assets would be most welcomed.
Regards
Fred
Third the motion, could really use this feature. A steadily increasing percentage option like an additional 1%/year would be especially pertinent to our situation.