[Skip to Content]

Maintenance Update 12 31 2015

Calculator update notes for 12-31-2015.

Overview: Financial Calculator Update 12/31/2015


The quarterly update for 12/31/2015 is a large update, affecting almost every calculator. The majority of the changes affect the functionality of the calculations, updating them to 2016 rules and regulations. The most significant calculation changes in this update were to the retirement, savings, and tax calculators.

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: 9/30/2015 Update.

If you wish to upgrade to V3 please email use us at:


Version 3 (V3) Calculator Updates


For more detailed information please see our frequently asked questions: FAQ

V3 calculators use JavaScript, HTML5 and CSS to display and run the calculators.

As of 12/31/2014 the V2 calculators that use Java Applets are no longer be supported or updated. These calculators will continue to work as is, but updates have stopped for all V2 calculators unless special arrangements have been made for custom work. If you received an updated package in V2 for 12/31/2015 any changes noted below are included. Please contact us for upgrade pricing.

As of 12/31/2015 all standard U.S. English, Canadian, French Canadian and Spanish calculators are now available in V3. If you have a custom calculator that you would like upgraded please contact us for pricing and instruction.

If you wish to upgrade to V3 please email use us at:


Update Instructions


For more detailed information please see our frequently asked questions: FAQ

  1. Download the latest update package for your calculators from your download site, found on your update e-mail notice.

  2. Execute the KJEUpdate.exe file from your download. This is a self-extracting zip file. (Or unzip the KJEUpdate.zip file if you are using a non-windows platform.) If you see a warning message, you can safely continue. When prompted for a directory, you may use the default 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 or staging environment. One directory will be created with no subdirectories.

  3. Replace all files provided in update package. The update package includes all JS files and CSS files that are required to update the content of your calculators. IMPORTANT! The update package does not contain any HTML files or the KJESiteSpecific.js or KJESiteSpecific.css files. These files are not required for an upgrade, and replacing them may result in overwriting custom changes for your website installation. If you use the full installation package and have changed the file KJESiteSpecific.js or KJESiteSpecific.css files do not replace them.

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.

Please note, if you have a Servlet or other custom deployment, installation instructions for your package will found on your download page or provided separately.

If you wish to upgrade to V3 please email use us at:


Update Changes 12/31/2015


The V3 (HTML5/JavaScript) calculators do not require any edits or modifications to HTML pages, all changes are encapsulated within the JS files provided.

  1. The definition for Rate of Return has been updated to include 2015.

    New definition:
    The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending Dec. 1st, 2015, had an annual compounded rate of return of 7.76%, including reinvestment of dividends. From January 1970 through to Dec. 2015, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.5% (source: www.standardandpoors.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution may pay as little as 0.25% or less but carry significantly lower risk of loss of principal balances.

    It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that Separate Account investment funds and/or investment companies may charge.

    New definition Spanish Definition:
    El por ciento de rendimiento real dependerá en gran parte del tipo de inversión que usted escoja. De enero de 1970 a diciembre de 2015 el por ciento de rendimiento promedio ponderado para el índice "S&P 500", incluyendo la reinversión de dividendos, fue aproximadamente 10.5% por año. Durante estos años el rendimiento mayor para un periodo de 12 meses fue de 61% mientras el menor fue de -43%. Las cuentas de ahorro en los bancos pagan un interés tan bajo como 1% o menos.

    Es importante recordar que el por ciento de rendimiento futuro no se pueden predecir con certeza y que las inversiones que pagan un por ciento de rendimiento mayor están sujetos a un mayor riesgo y volatilidad. El por ciento de rendimiento real puede variar extensamente durante el su vida, especialmente en inversiones a largo plazo, incluyendo una potencial perdida de principal de su inversión.

    This affects the following 66 calculators:

    Calculator TypeNameHTML File Changed
     Auto CalculatorsLease vs. BuyBuyvsLease.html
     Business CalculatorsEquipment Buy vs. LeaseBizBuyvsLease.html
     Business Debt Consolidation CalculatorBizConsolidate.html
     Credit Cards and Debt ManagementConsolidation Loan Investment CalculatorInvestmentDebt.html
     Insurance CalculatorsVariable Annuity CalculatorAnnuity.html
     Comprehensive Life Insurance AnalysisEnhancedLifeIns.html
     Health Savings Account (HSA) Goal CalculatorHSAGoal.html
     Health Savings Account (HSA) Savings CalculatorHSASavings.html
     Human Life ValueHumanLifeValue.html
     Life Insurance CalculatorLifeInsurance.html
     Investment CalculatorsAnnual Rate of Return CalculatorAnnualReturn.html
     Lump Sum Annual Return CalculatorAnnualReturnAmount.html
     Compare Investment FeesCompareFees.html
     Mutual Fund Expense CalculatorFundExpense.html
     Future Value CalculatorFutureValue.html
     Lump Sum Future Value CalculatorFutureValueAmount.html
     Taxable vs. Tax Advantaged InvestmentsInvestCompare.html
     Investment Savings and DistributionsInvestmentDistribution.html
     Investment DistributionsInvestmentDistribution2.html
     Investment LoanInvestmentLoan.html
     Investment ReturnsInvestmentReturn.html
     Investment GoalInvestmentVariables.html
     IRR CalculatorIRRReturn.html
     Present Value CalculatorPresentValue.html
     Lump Sum Present Value CalculatorPresentValueAmount.html
     Personal Economic Recovery CalculatorRecoverTime.html
     Annual Stock Option GrantsStockGrants.html
     Stock Option CalculatorStockOptions.html
     Mortgage CalculatorsRent vs. BuyMortgageRentvsBuy.html
     Retirement Savings and PlanningHow Important is Social Security?NoSocial.html
     Pension Plan Retirement OptionsPensionOptions.html
     Traditional IRA CalculatorRegularIRA.html
     401(k) Savings CalculatorRetire401k.html
     403(b) Savings CalculatorRetire403b.html
     457 Savings CalculatorRetire457.html
     72(t) Distribution ImpactRetire72Alt.html
     Beneficiary Required Minimum DistributionsRetireBeneficiary.html
     Required Minimum Distribution (RMD)RetireDistrib.html
     How long will my retirement savings last?RetirementDistribution.html
     Retirement IncomeRetirementIncome.html
     Retirement Nestegg CalculatorRetirementNestegg.html
     Retirement PlannerRetirementPlan.html
     Retirement Pension PlannerRetirementPlan3.html
     Retirement Planner with Retirement EarningsRetirementPlan4.html
     Retirement ShortfallRetireShort.html
     Individual 401(k) Savings CalculatorRetireSolo401k.html
     401(k) Spend It or Save It CalculatorRollover401k.html
     Roth IRA CalculatorRothIRA.html
     Roth IRA ConversionRothTransfer.html
     Roth vs. Traditional IRARothvsRegular.html
     Roth vs. Traditional 401(k)RothvsTraditional401k.html
     RMD & Stretch IRA CalculatorStretchIRA.html
     Savings CalculatorsCollege SavingsCollegeSavings.html
     Compare Savings RatesCompareSavings.html
     Compound Interest and Your ReturnCompoundInterest.html
     Savings CalculatorCompoundSavings.html
     Savings Distribution CalculatorDistribSavings.html
     Emergency Savings CalculatorEmergency.html
     Lunch SavingsLunchSaver.html
     Cool MillionMillionaire.html
     Savings GoalsSavings.html
     Savings, Taxes, and InflationSavingsVariables.html
     Benefit of Spending LessSpendLess.html
     Vice SavingsViceSaver.html
     Don't Delay Your Savings!WaitCost.html

  2. The definition for Inflation and Expected Inflation Rate has been updated to include CPI data from 2015. The CPI for 2015 was estimated by the Minneapolis Federal Reserve as 0% (the annualized rate), this small difference from the existing long term average was just enoughto change the long term average from 3.0% to 2.9%. The new definition now reads:

    This is what you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2015 the CPI has a long-term average of 2.9% annually. Over the last 40 years highest CPI recorded was 13.5% in 1980. For 2015, the last full year available, the CPI was 0.0% annually as reported by the Minneapolis Federal Reserve.

    This affects the following 25 calculators:

    Calculator TypeNameHTML File Changed
     Insurance CalculatorsDisability InsuranceDisability.html
     Health Savings Account (HSA) Goal CalculatorHSAGoal.html
     Health Savings Account (HSA) Savings CalculatorHSASavings.html
     Human Life ValueHumanLifeValue.html
     Life Insurance CalculatorLifeInsurance.html
     Long Term Care CalculatorLongtermCare.html
     Investment CalculatorsInvestment Savings and DistributionsInvestmentDistribution.html
     Investment DistributionsInvestmentDistribution2.html
     Investment ReturnsInvestmentReturn.html
     Investment GoalInvestmentVariables.html
     Personal Economic Recovery CalculatorRecoverTime.html
     Mortgage CalculatorsRent vs. BuyMortgageRentvsBuy.html
     Retirement Savings and PlanningHow Important is Social Security?NoSocial.html
     How long will my retirement savings last?RetirementDistribution.html
     Retirement IncomeRetirementIncome.html
     Retirement Nestegg CalculatorRetirementNestegg.html
     Retirement PlannerRetirementPlan.html
     Retirement Pension PlannerRetirementPlan3.html
     Retirement Planner with Retirement EarningsRetirementPlan4.html
     Retirement ShortfallRetireShort.html
     Social Security BenefitsSocialSecurity.html
     Company Stock Distribution Analysis CalculatorStockRollover401k.html
     Savings CalculatorsCool MillionMillionaire.html
     Savings GoalsSavings.html
     Savings, Taxes, and InflationSavingsVariables.html
     Inflationary MillionareInflationMillionaire.html
     Price InflationInflationPrice.html
     Inflation HistoryInflationHistory.html

  3. Health Savings Accounts (HSA)

      Have been finalized for 2016 changes. The limits and amounts were increased slightly from 2016 for all HSA calculations. All calculators were updated to indicate the new 2016 amounts. Income tax brackets and rates were updated to 2016. This includes the following:

      Health Savings Accounts (HSA) Contribution and Limits
       20162015Change
      HSA contribution limitSingle: $3,350
      Familiy: $6,750
      Single: $3,350
      Familiy: $6,650
      Single: No change
      Familiy: $100+
      HSA catch-up contributions$1,000$1,000No change, not indexed to inflation
      HDHP mimimum deductibleSingle: $1,300
      Familiy: $2,600
      Single: $1,300
      Familiy: $2,600
      Single: No change
      Familiy: No change
      HDHP maximum out-of-pocket**Single: $6,550
      Familiy: $13,100
      Single: $6,450
      Familiy: $12,900
      Single: $100+
      Familiy: $200+
      *Catch-up contributions can be made anytime during the year in which the participant turns 55.
      **This includes deductible amount, co-payments and other non-premium payments

      Please note, you are no longer eligible to make HSA contributions starting in the first month that you are eligible for and enrolled in Medicare Part A or B.

      For complete details on HSAs you may wish to visit the U.S. Treasury at http://www.treasury.gov/resource-center/faqs/Taxes/Pages/Health-Savings-Accounts.aspx

    This affects the following calculators:

    HTML File ChangedName
    HSABusiness.htmlEmployer Benefit
    HSAContribution.htmlHealth Savings Account (HSA) Contribution Calculator
    HSASavings.htmlHealth Savings Account (HSA) Savings Calculator
    HSAvsTraditional.htmlHealth Savings Account (HSA) vs. Traditional Health Plan
    HSAGoal.htmlHealth Savings Account (HSA) Goal Calculator

  4. Individual 401(k) Contribution Comparison(Individual401kContribution.html): Has been updated for 2016. Contribution limits have not increased for 2016. Definitions and information have been updated to reflect the calculator is current for 2016.

  5. Individual 401(k) Savings Calculator(RetireSolo401k.html): Has been updated for 2016, 401(k) contributions remain unchanged at $18,000 and total defined benefit contribution limit has remainded at $53,000.

  6. Self-Employment Tax Calculator (TaxSelfEmployment.html): Has been finalized for the 2015. Minor changes have occurred to the definitions and the calculations, but there have been no additional input and output fields. (Note: the 2016 version of this calculator will be released 3/31/2016 which can be used for 2016 taxes which are filed in April 2017.)

  7. 1040EZ Tax Form (TaxEZ1040.html), Marginal and Effective Tax Rates (TaxMargin.html): Have been finalized for the 2015. Minor changes have occurred to the definitions and the calculations. (Note: the 2016 version of this calculator will be released 3/31/2016 which can be used for 2016 taxes which are filed in April 2017.)

  8. 1040 Tax Estimator (Tax1040.html): Has been updated for changes in 2015. The final version of the 1040 tax form for 2015, and matching of labels and field names is also complete. This included input fields that were added and removed. (Note: the 2016 version of this calculator will be released 3/31/2016 which can be used for 2016 taxes which are filed in April 2017.)

  9. Charitable Tax Savings Calculator (CharitableTaxSavings.html): Has been updated for changes in 2015 (Note: the 2016 versions of this calculators will be released 3/31/2016).

  10. Long Term Care, Long Term Care Savings Calculator (LongtermCare.html, LongTermCareSavings.html): The estimated costs have been updated to reflect the cost of 2015 nursing home and home health care costs.

    Definition for long term card costs has been updated to:

      This is your current estimated cost of long term care. According to the Genworth Financial 2015 Cost of Care Survey, the estimated median annual cost for a nursing home stay was $80,300 per year for a semi-private room. This is about $220 per day. The cost for a private room was $91,250 or $250 per day. Assisted living at home can cost more than $43,200 per year or $20.00 per hour for a home healthcare aid. All of these long-term care costs can be considerably higher in larger metropolitan areas.

      The default daily value was increased to $250.

  11. Retirement Contribution Effects on Your Paycheck (RetirePayrollSavings.html, Spanish: SPRetirementPayrollSavings.html, RetirementPayrollSavings2.html): In addition to the Payroll changes described for the calculators above, the contribution limits for retirement plans on this calculator remain unchanged at $18,000 for 2016.

  12. Payroll and withholding calculators

    Each of these calculators has been updated to the new withholding rates for 2016 as published in IRS Publication 15 (2015) Income Tax Withholding Tables for 2016. The associated withholding tables have been updated as well as the calculations. In addition, the definitions and calculations have been updated to reflect that the calculator is using the 2016 amounts.

    This affects the following calculators:

    HTML File ChangedName
    Payroll.htmlPayroll Deductions
    PayrollHourly.htmlHourly Paycheck Calculator
    Payroll125.htmlSection 125 Cafeteria Plan
    PayrollGross.htmlNet to Gross Paycheck Calculator
    457Payroll.html457 Payroll Calculator
    IncomeOneorTwo.htmlShould my spouse work?
    RetirePayrollSavings.htmlRetirement Contribution Effects on Your Paycheck
    RetirePayrollSavings2.htmlRetirement Contribution Effects on Your Paycheck
    SPPayroll.htmlCheque deducciones y retenciones
    SPRetirePayrollSavings.htmlEfectos de sus Aportaciones a su Jubilación sobre su Cheque de Paga

    1. 401(k)/403(b) limits are $18,000 under 50, $24,000 for 50 and over
    2. Social Security tax (2016 earned income maximum of $118,500 with employee rate 6.2%).
    3. FICA maximum $7347
    4. Allowances is $4050 (up from $4000 in 2015)
    5. Additional Medicare Tax withholdings of 0.9% for earned income above $200,000. No change for 2016
    6. Flexible Spending Account for Medical maximum is increased to $2550 remains for 2016.
    7. Definition updates as follows:
      Year-to-date earnings
      Your current year gross earnings that were subject to FICA taxes (Social Security tax and Medicare tax). This total should not include the current payroll period or any income from other sources or employers. We use this amount to determine if you are required to have Social Security tax or additional Medicare tax withheld for the current payroll period. Typically, this is your gross earnings minus employer paid health insurance and any Flexible Spending Account (FSA) contributions. In 2016, year-to-date earnings is not required or used for incomes under $118,500 per year, or if your current year-to-date earnings plus your current payroll does not exceed $118,500.

      Social Security tax
      For 2016, Social Security tax is calculated as your gross earnings times 6.2%. For 2016, incomes over $118,500 that have already had the maximum Social Security tax of $7,347 withheld will not have additional withholdings. Please note that if you have other wages or employers this calculator does not make any assumptions as to the total Social Security tax withheld for the current year other than the actual inputs for this calculator. This tax is also referred to as the Federal Insurance Contributions Act Old Age Survivors and Disability Insurance (FICA OASDI).

      Federal income tax withholdings were calculated by
      1. Federal income tax withholdings were calculated by:
        1. Multiplying taxable gross wages by the number of pay periods per year to compute your annual wage.
        2. Subtracting the value of allowances allowed (for 2016, this is $4,050 multiplied by withholding allowances claimed).
        3. Determining your annual tax by using the tables below (single and married rates, respectively).
        4. Dividing the amount of tax by the number of pay periods per year to arrive at the amount of federal withholding tax to be deducted per pay period.
      Single Withholding Rates 2016*
      Annual taxable income between these amountsAnnual withholdingWithhold additional % of income over this amount
      $0.00 - $2,250.00$0.00 
      $2,250.00 - $11,525.00$0.00plus 10% of income over $2,250.00
      $11,525.00 - $39,900.00$927.50plus 15% of income over $11,525.00
      $39,900.00 - $93,400.00$5,183.75plus 25% of income over $39,900.00
      $93,400.00 - $192,400.00$18,558.75plus 28% of income over $93,400.00
      $192,400.00 - $415,600.00$46,278.75plus 33% of income over $192,400.00
      $415,600.00 - $417,300.00$119,934.75plus 35% of income over $415,600.00
      $417,300.00 - (no limit)$120,529.75plus 39.60% of income over $417,300.00
      *Source: http://www.irs.gov Publication 15 Income Tax Withholding Tables for 2016
      Married Withholding Rates 2016*
      Annual taxable income between these amountsAnnual withholdingWithhold additional % of income over this amount
      $0.00 - $8,550.00$0.00 
      $8,550.00 - $27,100.00$0.00plus 10% of income over $8,550.00
      $27,100.00 - $83,850.00$1,855.00plus 15% of income over $27,100.00
      $83,850.00 - $160,450.00$10,367.50plus 25% of income over $83,850.00
      $160,450.00 - $240,000.00$29,517.50plus 28% of income over $160,450.00
      $240,000.00 - $421,900.00$51,791.50plus 33% of income over $240,000.00
      $421,900.00 - $475,500.00$111,818.50plus 35% of income over $421,900.00
      $475,500.00 - (no limit)$130,578.50plus 39.60% of income over $475,500.00
      *Source: Source: http://www.irs.gov Publication 15 Income Tax Withholding Tables for 2016

  13. College Savings (CollegeSavings.html, SPCollegeSavings.html (Spanish)), College Planner (CollegePlanner.html): The definition for tuition, room and board, and education cost inflation have been updated to include the average costs for the 2015-16 school year. The defaults have also been changed to reflect the new average cost for the 2015-16 school year and the average cost increases for tuition and room and board. The new information is show below:
    U.S. Undergraduate College Costs for 2015-16 School Year
    Source: College Board's 2015 Trends in College Pricing, www.collegeboard.com
     Tuition and feesRoom & BoardTotalChange from 2014-15
    Public 4-Year (in-state tuition)$9,410$10,138$19,5483.3%
    Public 4-Year (out-of-state tuition)$23,893$10,138$34,0313.5%
    Private 4-Year$32,405$11,516$43,9243.5%

  14. 401(k) Calculator (Retire401k.html), 401(k) With Profit Sharing (Retire401kProfitShare.html): The definitions and the calculation module have been updated to reflect the 2016 maximum contribution limits of $18,000 annually for those under 50 and $24,000 annually for those 50 and older (no change from 2015). The limitation used in the definition of highly compensated employee remains unchanged at $120,000.

  15. 457 Calculator (Retire457.html): The definitions and the calculation module have been updated to reflect 2016 maximum contribution limits of $18,000 annually for those under 50 and $24,000 annually for those 50 and older.

  16. 403b Calculator (Retire403b.html): The definitions and the calculation module have been updated to reflect 2016 maximum contribution limits of $18,000 annually for those under 50 and $24,000 annually for those 50 and older.

  17. Pre-tax or Roth (after tax) Account? (RothvsPreTaxAccount.html): The definitions and the calculation module have been updated to reflect 2016 maximum contribution limits of $18,000 annually for those under 50 and $24,000 annually for those 50 and older.

  18. 72(t) Calculator: Early withdrawals from retirement accounts (Retire72T.html, Retire72T2.html), 72(t) Distributions: Impact on retirement fund balances (Retire72TAlt.html): The Federal Mid-Term rate has been updated for January 2016. This change affects the calculators default values and the definition of Reasonable Interest Rate For January 2016. For January 2016, 120% of the Federal Mid-Term rate is 2.17%.

  19. Roth IRA (RothIRA.html), Traditional IRA (RegularIRA.html), Roth vs. Traditional IRA (RothvsRegular.html): These calculators have been updated to 2016 phase out ranges. The maximum annual contribution of $5,500 per individual under 50 and $6,500 per individual over 50 remains unchanged from 2015. These changes include updates to the calculation module as well as the definitions and the report.

    Additional changes to the phase-outs affecting these calculator have been made. The tables and text below has been updated:

    The table below summarizes the income 'phase-out' ranges for Roth IRAs.

    Tax filing status2016 Income Phase-Out Range
    Married filing jointly or head of household$184,000 to $194,000
    Single$117,000 to $132,000
    Married filing separately*$0 to $10,000

    *For the purposes of this calculator, we assume you are not Married filing separately and contributing to a Roth IRA.

    The table below summarizes the income 'phase-out' ranges for Traditional IRA tax deductions

    Tax filing status2016 Traditional IRA Deduction Phase-Out Ranges
    Married filing jointly$98,000 to $118,000
    Single$61,000 to $71,000
    Married filing separately$0 to $10,000
    This calculator automatically determines if your tax deduction is limited by your income. However, there are two unusual situations not automatically accounted for where additional tax phase-outs are applied. First, if your spouse has an employer sponsored retirement plan but you do not, your tax deduction is phased out from $184,000 to $194,000. Second, if you are married filing separately and have an employer sponsored retirement plan, the income phase-out is from $0 to $10,000.

  20. Roth 401(k) or Traditional 401(k)?, Roth 401(k) vs. Traditional 401(k) and your Paycheck, Roth vs Traditional 401(k) (Compare401k.html, Compare401k2.html, RothvsTraditional401k.html) contribution limit notes updated for 2016. The definitions and the calculation module have been updated to reflect the 2016 maximum contribution limits of $18,000 annually for those under 50 and $24,000 annually for those 50 and older.

  21. Retirement Planner, Retirement Pension Planner, Retirement Planner with Retirement Earnings (RetirementPlan.html, RetirementPlan3.html,RetirementPlan4.html): Calculations and definitions for Social Security updated. (See Social Security calculator update for details).

  22. 2016 Federal Tax Rate table has been added to the following calculators (replacing the 2015 Federal Tax Table)
    HTML File ChangedName
    401(k) Net Unrealized Appreciation vs. RolloverStockRollover401k.html
    Municipal Bond Tax Equivalent YieldTaxEquivYeild.html
    Mortgage Debt ConsolidationMortgageConsolidate.html
    Roth 401(k) or Traditional 401(k)?RothvsTraditional401k.html, Compare401k.html
    Pre-tax or Roth (after tax) Account?RothvsPreTaxAccount.html
    401(k) Spend It or Save It CalculatorRollover401k.html
    Investment Goal CalculatorInvestmentVariables.html
    Roth IRA ConversionRothTransfer.html
    Roth IRA Conversion with DistributionsRothConversion.html
    Retirement Plan WithdrawalRetirementWithdrawal.html
    REIT Tax-Equivalent DistributionREITTaxEquivYield.html
    Health Savings Account (HSA) Contribution CalculatorHSAContribution.html
    Health Savings Account (HSA) Savings CalculatorHSASavings.html
    Health Savings Account (HSA) vs. Traditional Health PlanHSAvsTraditional.html
    Taxable vs. Tax Advantaged InvestmentsInvestCompare.html

    You can use the table below to assist you in estimating your Federal tax rate. Use the table below to assist you in estimating your federal tax rate.

    Filing Status and Income Tax Rates 2016*
    Tax RateMarried Filing Jointly or Qualified Widow(er)SingleHead of HouseholdMarried Filing Separately
    10%$0 - $18,550$0 - $9,275$0 - $13,250$0 - $9,275
    15%$18,550 - $75,300$9,275 - $37,650$13,250 - $50,400$9,275 - $37,650
    25%$75,300 - $151,900$37,650 - $91,150$50,400 - $130,150$37,650 - $75,950
    28%$151,900 - $231,450$91,150 - $190,150$130,150 - $210,800$75,950 - $115,725
    33%$231,450 -$413,350$190,150 - $413,350$210,800 - $413,350$115,725 - $206,675
    35%$413,350 -$466,950$413,350 - $415,050$413,350 - $441,000$206,675 - $233,475
    39.6%Over $466,950 Over $415,050 Over $441,000 Over $233,475
    *Caution: Do not use these tax rate schedules to figure 2015 taxes. Use only to figure 2016 estimates. Source: 2015 Rev. Proc. 2015-61

    NOTE:The actual tax calculators will be updated at the end of the tax season, in the 3/31/2016 update.

  23. Social Security Calculations

    Calculations and definitions updated for 2016. The income limit of $118,500 for FICA as to do the maximum benefits did not change for 2016. The annual maximum benefit is $31,668 per year for a single person and 1.5 times this amount for a married couple.

    These changes affect the following calculators:

    HTML File ChangedName
    Social Security CalculatorSocialSecurity.html
    How important is Social Security?NoSocial.html
    Retirement PlannerRetirementPlan.html
    Retirement Pension PlannerRetirementPlan3.html
    Retirement Nestegg CalculatorRetirementNestegg.html
    Your Number & Retirement Income PlanRetirementNumber.html
    Retirement Planner with Retirement EarningsRetirementPlan4.html

    The definitions of Social Security in each of these calculators has been updated to the following:

    The calculations use the 2016 FICA income limit of $118,500 with an annual maximum Social Security benefit of $31,668 per year ($2,631 per month) for a single person and 1.5 times this amount for a married couple. To receive the maximum benefit would require earning the maximum FICA salary for nearly your entire career. You would also need to begin receiving benefits at your full retirement age of 66 or 67 (depending on your birthdate). This calculator rounds your age of full Social Security benefits to the next highest full year. If your birthdate is between 1955 and 1959 your actual full retirement age for Social Security is 66 plus two months for each year after 1954. Your actual benefit may be lower or higher depending on your work history and the complete compensation rules used by Social Security.

  24. Estate Tax Planning (EstatePlan.html, SPEstatePlan.html): The exemption amount has been increased to $5,450,00. This is up $20,000 from 2015. There was no change in the estate tax rate or anual gift exclusion amounts.
  25. Tax Free Savings Account (TFSA) Comparison (Canadian and French Canadian) (CATFSACompare.html,FRTFSACompare.html ): The definitions and description has been updated for 2016, with the maximum set at $5,500 per year. This is a change from $10,000 in 2015. The new description reads:

    How taxes are applied to an investment can make an incredible difference. Starting in 2009 all Canadians 18 and older have a new option to save where all earnings and withdrawals are tax free. As of January 2016 you are able to contribute up to $5,500 per year to a Tax Free Savings Account (TFSA) and make tax free withdrawals at any time for any purpose. This calculator is designed to help compare a normal taxable investment to a TFSA and a RRSP.

  26. Retirement Planner (Canadian and French Canadian) (CARetirementPlan.html,FRRetirementPlan.html ): OAS, CPP and QPP defaults have been increased for the 2016 maximums. This is now $570 OAS per month and $1,092 per month for CPP and QPP.

  27. Mortgage Qualifier (Canadian and French Canadian), Mortgage Rent vs Buy (Canadian and French Canadian), (CAMortgageQualifier.html,CAMortgageQualifier.html, CAMortgageRentvsBuy.html, FRMortgageRentvsBuy.html ): These calculators now use the new Feb. 2016 rules for calculating minimum downpayment requirements. The new requirements include an increased downpayment for purchases between $500,000 and $1,000,000. The following has been added to the report to explain the new rules:

      Regardless of your monthly payment qualification, there is a required minimum downpayment of 5% for homes with a purchase price of $0 to $500,000. For amounts over $500,000 an additional 10% downpayment is required for each dollar over $500,000. For amounts over $1,000,000 a 20% downpayment is required. The downpayment does not include mortgage insurance, which may be financed. For a purchase price of $XXX,XXX, the minimum required downpayment is $XX,XXX.