eMoney Advisor Releases New Tax Planning Features


RADNOR, PA — eMoney Advisor announced the recent launch of new features that allow financial advisors to show their clients the impact Roth conversions and other tax strategies have on their financial plans. These new features – a Tax Bracket Report and Automated Bracket-Based Roth Conversion—are tools that can be leveraged in the Decision Center, eMoney’s most widely used interactive cash flow-based planning experience.

The Tax Bracket Report provides advisors with the ability to demonstrate the impact of strategies like Roth conversions. The report overlays a client’s tax bracket floor with their annual income tax base and the taxable portion of any Roth conversion. It also includes further insight into what remains in the federal marginal bracket for each year, identifying new opportunities and topics for conversation.

To improve ease of use when modeling Roth conversions, a new conversion option is available to set up a target tax bracket. The Automated Bracket-Based Roth Conversion accessible via the Fill Up Bracket option quickly converts assets until reaching the breakpoint between marginal tax brackets.

“These new capabilities easily enable advisors to have dynamic tax planning conversations with their clients, which are then brought to life in the Decision Center,” said Josh Belfiore, advisory product manager at eMoney. “These conversations are especially top-of-mind for advisors as they navigate the SECURE 2.0 Act changes.”

Following the recent passage of the Secure Act 2.0, eMoney remains committed to enabling its users to deliver the most up-to-date financial plans to their clients. The following updates have been released to support SECURE 2.0 Act with more changes coming soon.

  • Required Minimum Distribution (RMD): The age to start taking RMDs has increased to age 73 in 2023 and to 75 in 2033.
  • Roth RMD: Roth funds in a qualified employer plan are no longer subject to RMD.
  • Contributions Indexed: Catch-up contributions to an IRA are now indexed for inflation.
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“In addition to the tax planning benefits that are so important, we’re really excited about these new capabilities because they build upon the streamlined, intuitive and comprehensive work environment within the Decision Center,” said Belfiore.

Prior to releasing the Tax Bracket Report and Automated Bracket-Based Roth Conversion, eMoney launched the following new features in the Decision Center at the end of 2022:

  • Total Taxes Report shows advisors and their clients the impact of their decisions in real time by providing visibility into how different plan changes can impact their long-term cumulative taxes.
  • Streamlined Roth Conversion Modeling in Facts simplifies the process of entering a Roth conversion into eMoney.

For more details and information on how these latest enhancements are enabling more interactive tax planning conversations, register for eMoney’s upcoming webinar titled 2023 Tax Legislation Insights, SECURE 2.0 and eMoney Analysis (1 CFP® CE Credit) being held on Thursday, March 9 from 2 to 3 p.m. ET.

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