ExecPan Express Financial Planning Software Releases Their 2012 Version to Help Professional Financial Advisors, Accountants and Consumers Prepare for the Upcoming "Taxmageddon"

    PRINCETON, NJ, May 25, 2012 /24-7PressRelease/ -- For business owners, investors, retirees and financial advisors alike, next year poses a significant tax planning challenge. Nothing is more difficult to plan for than the unknown, and as it becomes more apparent that there will be no agreement between the President and Congress to address the numerous tax increases scheduled to occur next year for millions of Americans, the possible financial unknowns will grow significantly.

This is simply because the number and types of changes to the tax law that are schedule to take place by the end of this year are both significant and varied in how they will impact everyone who pays taxes. Though most people are aware of the increase to the actual tax rates from the phase out of the Bush era tax cuts; they are equally unaware that there is more to those tax cuts than simply lower rates. For qualified retirement plans such as 401k plans, there will be lower contribution limits and the elimination of the "Catch Up" provision for those over age 50. This will mean higher taxes for pre retirees saving for their retirement needs. Married couples will face the return of the "marriage penalty" tax in which a married couple would pay more in taxes than two single people making the same income. Working families will see the loss of the Child Care credit raising the cost of raising children in a two income family. Then there are the investors including retirees who live off dividend income who will see their income taxes in many cases, more then double. Add in the lack of a "fix" to AMT for 2012 that will trigger higher taxes for millions of filers who never were affected, and it becomes clear almost everyone will face thousands of dollars more in taxes, even for a family with a modest income.

However what might be most ominous for the economy is the impact on small business owners who might need to make critical business decisions in the near future to minimize their tax exposure from a substantial increase in capital gains rates, the new Medicare surcharge tax and the return of the higher estate tax rates. Analyzing these issues and evaluating what the best strategies to minimize the impact on your personal financial goals will take more than a simple retirement planning software. The best way to understand how these tax increases will impact any investment, business, estate or retirement planning decision, is to use professional financial planning software that incorporates a detailed income tax analysis into its projections.

ExecPlan Express personal financial planning software for 2012 incorporated the option to allow users to select parts or all of the tax changes to be used in any retirement planning projection. "Our professional financial planning software is unique in the market place at a price point under $400 because we do an actual federal income tax analysis as well as a net worth and cash flow projection on a year by year basis" explains Robert Fourman, Director of Marketing and Sales. "Unlike other financial planning software, ExecPlan Express can look at what is likely to happen and how certain actions can improve your position and see those improvements in actual real dollars both short term and long term and in turn the impact those strategies will have on an individual's net worth and retirement planning goals."

For professional financial advisors or consumers who are interested on how all these changes will impact them, they can obtain a free 30 day unrestricted trial version of ExecPlan Express at www.execplanexpress.com. Visitors to the website will also find access to free online financial calculators, to obtain detailed sample reports, or spend time reviewing online tutorials. You can also obtain a simple free income tax calculator at www.taxmode.net.

Sawhney Systems is a provided of personal financial planning software for the professional financial advisor. For information on our products ExecPlan and ExecPlan Express please contact us at (800)850-8444 or visist us at www.sawhney.com.

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