All good questions... some attempted answers:
On the Other Assumptions page is the tax rate entered the marginal or effective tax rate?
- the default is for you to enter the marginal federal rate and state rate. This will get you a conservative effective rate (i.e. would tend to over tax rather than under tax). A true effective rate is total taxes paid divided into total gross income. If you now that % then enter it DIRECTLY into the effective tax rate box. The value in the effective tax rate boxes are the only ones used in the actual calculations.
Under Help what is Customerhub.net?
- our customer account login system is provided by a 3rd party vendor called customer hub. The location of that login is: torridtech.customerhub.net
If you go there and don't have password there is a link to have it emailed to you.
Have you developed a better solution for Variable Annuities with Income Benefits than the solution shown on the website using a combo of special expenses and cash infusions?
- for variable annuities without income benefirts we added the Non-Qualified tax deferred tab. if they have income benefits or lifetime income, using Cash Infusions to model the income is really the only option right now. Anything else is too product specific..
If I use a 0% tax rate on Cash Infusions will the income be taxed at the rate entered under Other Assumptions?
- No. Cash Infusion taxation is totally controlled by the cash infusions screen. If you need taxes taken out of the infusion/income the year it is added to plan then you must set the rate on Cash Infusions. Other assumptions would not apply. A 0% rate would inject the full projected amount of the infusion in the year it is injected.
How to best model a marginal tax bracket with respect to taxable and IRA monies...
The program does treat the taxable and ira money differently with respect to taxation. You can set the tax rate before and after retirement but there is not a way to change it on a year to year basis.
Do you have a Social Security "maximization" module for the RetirementView? Something like Is there one in the works? https://www.socialsecuritytiming.com/
Many software companies similar to yours offers a 30 Day Trail... Does Torrid Tech offer trials?
We should tell him we don't do 30 day trials. If a potential customer wants a full working version we can give him a 7 day trial
but after that they would need to purchase the software.
Our policy is that they purchase the software first, but have 90 days to request a refund if they don't like it.
Rarely does anyone request a refund... maybe 3 or 4 times a year.
Is Torrid Tech's RetirementView compliance approved at LPL?
The program is indeed compliance approved at LPL.
If you look at our website www.torrid-tech.com, there it lists a big list of financial companies those we are approved at.
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