Allison Bookkeeping & Tax Service - Resources
 
Financial Calculators

The quarterly update for 12/31/2019 is a large update, affecting every calculator. The majority of the changes affect the functionality of the calculations, updating them to 2020 rules and regulations. The most significant calculation changes in this update were to the retirement, savings, and tax calculators. Additional changes have also been made changes for continued ADA support. All standard calculators meet accessibility specification WCAG 2.1 Level AA and Section 508.

"Setting Every Community Up for Retirement Security Act", better known as the SECURE Act was signed into U.S. law on December 20th, 2019 (technically it was an amendment to a much larger funding bill). The SECURE Act has a significant impact on retirement distributions. All affected calculators have been updated, both in definitions and functionality, to incorporate the new law as it now is understood. It is expected that the IRS will release further procedures to implement the SECURE Act. We expect at least one more update in 2020 to accommodate IRS published revenue procedures.

 

Please note that all financial calculators require a JavaScript enabled browser. Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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