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Paycheck Calculator |
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Paycheck Calculator |
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Paycheck Calculator
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Paycheck Calculator |
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Paycheck Calculator |
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The Paycheck Calculator quickly and easily illustrates the effects of various qualified plan contributions on take-home pay. It allows for quick analysis of hypothetical growth projections into retirement and payout values during retirement. It also allows for automatically moving a Federal 1040 return into a qualified plan with no change in take-home pay.
| Note: | The Paycheck calculator can work with different types of qualified plans (e.g. 401(k), 403(b), and 457) and may be configured to work with multiple plans (e.g. the client may have a 403(b) plan, a 457 plan, and a state sponsored retirement plan). This help file interchanges the usage of the various plan types. |
Following are a few enlightening scenarios of what the Paycheck calculator is well equipped to do:
| • | Present the changes in a qualified plan contribution by setting specific values to take home pay. |
| • | Portray the effect a client's next raise may make on take home pay. |
| • | Demonstrate the effect of changes in filing status and withholding allowances. |
| • | Create additional investment dollars by showing how Section 125 deferrals can increase the client's spendable income. |
| • | Calculate the reduction in the client's take home pay that results from putting a specific amount into their 403(b) account. |
| • | Redirect savings deposited into a credit union. |
Paycheck Help
Below are links to several topics that can help you use this powerful tool efficiently.