The quarterly update for 3/31/2021 is a targeted update in regards to content, updating tax calculators and calculators with Required Minimum Distribution (RMD) calculations. The changes affect the functionality of the calculations, updating them to 2021 rules and regulations. In addition significant changes have been made to the underlying calculator functionality to enhance mobile performance and ADA compliance.
All maintenance releases are cumulative, so if you apply this update, you will have all previous calculator updates as well. For your reference you can view the previous update notes here: 12/31/2020 Update.
For more detailed information please see our deployment documentation: V3 Deployment Information
When you test the new version of the calculators, make sure that the browser you are using uses the new files instead of any it may have in its cache. You may need to clear the browser's cache manually to ensure the new versions are loaded.
If your update fails, or provides unexpected coloring and formatting, Please try the following to update your sites calculators.
We also another option that you might want to consider. Our hosting package allows you to have calculators that you "set and forget" - all updates are applied automatically as part of the service. No more downloads or installation of updates.
Features
Here are a couple of examples:
Please contact us with questions!
The V3 (HTML5/JavaScript) calculators do not require any edits or modifications to HTML pages, all changes are encapsulated within the JS files provided. If you see anything that needs attention in on your website, please contact us for assistance. This update has some changes that may affect your deployment, we are ready and willing to make our newest calculators look great on your site!
| RMD & Stretch IRA Calculator | Use this calculator to help determine how you can stretch out your retirement plan distributions for as long as possible. |
|---|---|
| Required Minimum Distribution (RMD) | Use this calculator to determine your Required Minimum Distributions (RMD) as an account owner of a retirement account. This financial calculator will also look at potential future year's distribution requirements. |
| Required Minimum Distribution (RMD) - Current Year | Use this calculator to determine your Required Minimum Distributions (RMD) as an account owner of a retirement account for the current year. |
| Required Minimum Distribution (RMD) - Future Projection | Use this calculator to create a projection of your future Required Minimum Distributions (RMD) as an owner of a qualified retirement account. |
| Required Minimum Distribution (RMD) - with Stretch Projection | Use this calculator to create a stretch projection for Required Minimum Distributions (RMD) of a qualified retirement account. |
| Beneficiary Required Minimum Distributions (RMD) | Use this calculator to determine your Required Minimum Distributions (RMD) as a beneficiary of a retirement account. |
| Beneficiary Required Minimum Distributions (RMD) - Designated Eligible Beneficiary | Use this calculator to create a projection of your future Required Minimum Distributions (RMD) as a "Designated Eligible Beneficiary" of a qualified retirement account. |
| Beneficiary Required Minimum Distributions (RMD) - Spouse Inherited IRA | Use this calculator to create a future projection and Required Minimum Distributions (RMD) as a spouse beneficiary electing not to treat the inherited retirement account as his/her own. |
| 457 Plan Roth Conversion with Distributions Calculator | Use this calculator to help determine if converting your 457 plan account to a 457 Roth plan account is a good move for you. |
| Roth 401(k) Conversion Calculator | This calculator will show the advantage, if any, of converting your pre-tax 401(k) to a Roth 401(k). |
| Roth IRA Conversion with Distributions Calculator | Use this calculator to help determine how you can stretch out your retirement plan distributions for as long as possible. |
The RMD waiver is for retirement plans and accounts for 2020. This includes direct contribution plans such as 401k, 403b, 457b plans and IRAs. RMDs are also waived for IRA owners who turned 70 1/2 in 2019 and were required to take an RMD by April 1, 2020 and have not yet done so. For more information please see Waiver of Required Minimum Distribution for 2020.
Where the original account owner died prior to 2020 and prior to their required RMD begin date, the five year distribution period has been extended to six. For more information please see Waiver of Required Minimum Distribution for 2020.
IMPORTANT! The calculators were updated for the SECURE Act of 2019 and the CARES Act of 2020 in early 2020. The new laws were effective as of January 1st, 2020 and March 27th, 2020 respectively. It is important to understand that the IRS may release additional procedures for its implementation. Future IRS published procedures may have an impact on enforcement and interpretation of these Acts.
| Tax Rate | Married Filing Jointly or Qualified Widow(er) | Single | Head of Household | Married Filing Separately |
|---|---|---|---|---|
| *Caution: Do not use these tax rate schedules to figure 2020 taxes. Use only to figure 2021 estimates. Source: Rev. Proc. 2020-45 | ||||
| 10% | $0 - $19,900 | $0 - $9,950 | $0 - $14,200 | $0 - $9,950 |
| 12% | $19,900 - $81,050 | $9,950 - $40,525 | $14,200 - $54,200 | $9,950 - $40,525 |
| 22% | $81,050 - $172,750 | $40,525 - $86,375 | $54,200 - $86,350 | $40,525 - $86,375 |
| 24% | $172,750 - $329,850 | $86,375 - $164,925 | $86,350 - $164,900 | $86,375 - $164,925 |
| 32% | $329,850 - $418,850 | $164,925 - $209,425 | $164,900 - $209,400 | $164,925 - $209,425 |
| 35% | $418,850 - $628,300 | $209,425 - $523,600 | $209,400 - $523,600 | $209,425 - $314,150 |
| 37% | Over $628,300 | Over $523,600 | Over $523,600 | Over $314,150 |
| Filing Status | Standard Deduction |
|---|---|
| Married Filing Joint | $25,100 |
| Qualified Widow(er) | $25,100 |
| Single | $12,550 |
| Heads of Household | $18,800 |
| Married Filing Separately | $12,550 |
Long-term capital gains are calculated as follows (note that qualified dividends are calculated as if they were a long-term capital gain):
| Tax Rate | Married Filing Jointly or Qualified Widow(er) | Single | Head of Household | Married Filing Separately |
|---|---|---|---|---|
| *Caution: Do not use these tax rate schedules to figure 2020 taxes. Use only to figure 2021 estimates. Source: Rev. Proc. 2020-45 | ||||
| 0% | $0 - $80,800 | $0 - $40,400 | $0 - $54,100 | $0 - $40,400 |
| 15% | $80,800 - $501,600 | $40,400 - $445,850 | $54,100 - $473,750 | $40,400 - $250,800 |
| 20% | Over $501,600 | Over $473,750 | Over $445,850 | Over $250,800 |