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Maintenance Update 06 20 2008

Calculator update notes for 6-30-2008.

Financial Calculator Update 6/30/2008

The quarterly update for 6/30/2008 is a small update. We recommend you review the update items below. If you do not immediately require the enhancements below, since all updates are cumulative, you may wish to wait to implement them with our 9/30/2008 release.

If you implement this update and you have not updated your calculators in a while you should definitely refresh your existing HTML calculator pages. All updates are cumulative, so if you start fresh with this update you will have all previous calculator updates as well. If you would like, you can review our 3/31/2008 update: 3/31/2008 Update. (The 6/30/2008 update includes all changes included in previous updates, you do not need to download any other updates to have the most current versions of all of the calculator components.)

Make sure to try our new Calculator Configurator: Calculator Configurator
This new tool lets you see exactly how you can customize the many features of our calculators.

Update instructions*:

  1. Download the latest version of your calculators from your download site, found on your update e-mail notice.
  2. Execute the Calc.exe file from your download. This is a self-extracting zip file. (Or unzip the Calc.zip file if you are using a non-windows platform.)
  3. When prompted for a directory, you may use the default of "java" or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production environment. One directory will be created with no subdirectories.
  4. Delete the contents, in your current deployment, of the KJEgui, KJEgraph and KJEcalculation directories and remove them from your server. The new version no longer requires these directories or their content.
  5. Replace your current dinkytown.jar file with the new version.
  6. Replace all files with the extension "class" with the new version.
  7. Make required changes to any HTML documents as described in this document or replace all of your existing HTML documents and re-apply your web-site custom changes.

*Please note, if you have a Servlet or other custom deployment (other than the custom formatted delivery described below), installation instructions for your package will found on your download page.

Update for custom formatted delivery**:

**Custom formatted delivery is a special option that you can add to your maintenance update service. With this option we can apply an HTML, JSP, CFM or ASP template to your calculator pages and their reports before the update is sent to you. You will then receive your calculator pages with all of your site formatting in place, without any rework to include changes that have been made to the pages deployed on your server. If you are interested in using custom formatted delivery, please contact us at (612) 331-2291, or for more information.

  1. Download the latest version of your calculators from your download site, found on your update e-mail notice.
  2. Execute the Calc.exe file from your download. This is a self-extracting zip file. (Or unzip the Calc.zip file if you are using a non-windows platform.)
  3. When prompted for a directory, you may use the default of "c:\java" or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production environment. One directory will be created with no subdirectories.
  4. Delete the contents, in your current deployment, of the KJEgui, KJEgraph and KJEcalculation directories and remove them from your server. The new version no longer requires these directories or their content.

All pages will be custom formatted to your site, no further integration or modification of the calculators is required. Please note, if your custom delivery uses Active Server Pages (ASP), Java™ Server Pages (JSP) or Cold Fusion (CFM) the respective ASP, JSP or CFM pages will be in place of your HTML documents for all calculator main pages. Report templates will remain in HTML documents (these documents are not called by your server, but instead used by the applet in the main calculator page).

    To clear your Browser's cache:

    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.

    Internet Explorer:

    Choose "Internet Options" under the "Tools" menu and on the "General" tab click on the "Delete" button under the Browsing History section. Click the top button "Clear private data now..." Click "Ok" when prompted if you wish to delete all temporary files. Close this dialog box, and all open Internet Explorer windows. Your Cache should then be cleared.

    Firefox and Netscape:

    Choose "Clear private data..." under the "Tools" menu. Check the box for "Cache" and then click the button "Clear private data now".

Master Changes (HTML Modification required, affects all calculators)

    None

Master Changes (no HTML changes required, affects all calculators)

    None

Updates that require modifications to HTML documents

  1. 72T Calculator, 72T Distribution Impact: (Retire72T.html, Retire72T2.html, Retire72Alt.html), SPRetire72T.html, SPRetire72Alt): The default "Reasonable interest rate" has been changed to 4.14% to reflect 120% of the current Federal Mid-Term rate as of July 2008.

  2. Canadian Mortgage Qualifier:(CAMortgageQualifier.html) The TDSR and GDR defaults have been changed to 44 and 35 percent respectively.

  3. Earned Income Credit Calculator: (EarnedIncomeCredit.html) Has been updated to the 2008 rules, limits and amounts. This affects the calculations and the definitions and the report heading.

  4. Defaults for the following Canadian calculators have been updated
    1. Compound Interest Calculator -  (CACompoundInterest.html)  Annual Interest rate field from 10% to 4%
    2. Savings Calculator -  (CASavings.html, CACompoundSavings.html, CASavingsVariables.html) Rate of return field from 8% to 3%
    3. Debt Accelerated Payoff Calculator (CADebtAccel.html) - Credit Card Balance and Loan Balance amount from $5000 to $10,000
    4. Debt Consolidator Calculator (CADebtConsolidate.html) - Credit Card Balance and Loan Balance amount from $5000 to $10,000
    5. Mortgage Rent Vs Buy Calculator  (CAMortgageRentvsBuy.html) - the Price of home display field from $100,000 to $300,000
    6. Mortgage Qualifier Calculator  (CAMortgageQualifier.html)  - the  Annual income of display field from $ 40,000 to $ 80,000

  5. Canadian Education Savings Calculator (CACollegeSavings.html): Has been updated with the new grant regulations as follows:
    Check this box if you wish to calculate your savings with a Registered Education Savings Plan (RESP). There are two advantages to using an RESP to save for your children's education. First, the money grows tax free until the child needs it for tuition, residence and other educational expenses. Second, you receive a Canada Education Savings Grant worth as much as $600 per year per child. The grant amounts are calculated as follows:

    Income Range Annual Grant Calculated As
    $0 - $37,885*: $0.40 for each $1 for the first $500. $0.20 for each $1 for the next $1500. Maximum annual grant is $600
    $37,886* - $75,769 *: $0.30 for each $1 for the first $500. $0.20 for each $1 until you reach the maximum grant. Maximum annual grant is $550
    over $75,769 *: $0.20 for each $1 for the first $2500. Maximum annual grant is $500

Updates do not require changes to HTML documents

  1. Mortgage Maximum (MortgageMax.html): Maximum input values for liabilities was increased from $10,000 per period to $100,000

  2. Mortgage Loan (PITI) (MortgageLoan2.html): Maximum property taxes and insurance was increased from $100,000 to $1,000,000.

  3. 1040 Tax Form, 1040 EZ (Tax1040.html, TaxEZ1040.html): Earned Income Credit has been update to 2008 rules, limits and maximums. The Child Tax Credit phase-out has been modified to match the calculation used on publication 972. A small rounding error would occur if you were within $1 of the phaseout limit. The Extra Child Tax Credit is also now included in the calculator. The Extra Child Tax Credit is available to taxpayers that would not have been able to receive the entire child tax credit due if their tax bill was negative. This calculation is based on IRA form 8812. Please note that it is a simplified calculation that does not include non-taxable combat pay or certain income additions included for tax payers with more than 3 qualified children, include in form 8812 part II who are not able to receive the entire child tax credit based on their earned income alone.