ExecPlan Express Financial Planning Software's Newest Release Helps Consumers and Financial Advisors Plan for 2011, Even if Congress Fails to Extend the Bush Tax Cuts

PRINCETON, NJ, September 17, 2010 (Press-News.org) There are many tax planning strategies that can be implemented each year to help minimize your tax exposure.

Some are simple, such as doing a Roth IRA conversion, while others are more complex, like structuring the terms of a business sale. However, in both cases, understanding what the tax consequences will be is essential to making the right decision. In fact, most personal financial decisions whether they are small or large, could have a significant impact on your ability to meet your long term retirement goals.

Congressional failure to address whether to extend any or all of the Bush tax cuts has made financial planning decisions even more difficult to evaluate than normal by expanding the "what ifs". Since most tax and retirement planning software has to make assumptions on what the tax rate will be, the answers you get will depend on which assumption the software maker uses. This will prevent consumers and financial advisors alike from seeing all the "what ifs". Those who want to see the "spread" between the impact on their personal financial decisions with the current law or what would happen under the old higher rates that may go into effect on January 1 2011 will only see one option depending on what the software provider chooses. An even greater problem is that the 2001 Tax and Reconciliation act included more than just substantially lower tax rates. The other provisions that will "sunset" that may have just as large an impact on anyone's taxes next year include the return of the "marriage penalty", phase outs of itemized deductions, higher capital gains rates, dividend income taxed at ordinary income rates, lower contribution levels for IRAs and the return of the estate tax.

If retirement planning wasn't difficult enough, all these potential tax law changes add to the unknowns that the future brings. ExecPlan Express financial planning software chose to provide the option to either use the current tax rates or select whether to sunset any or all provisions of the Bush tax cuts, allowing advisors and consumers the ability to evaluate any decisions based on any scenario that they feel might happen.

"We have been making tax and financial planning software for 30 years and our experience has been to provide for all the possibilities," says Robert Fourman, marketing director for Sawhney Systems the maker of ExecPlan and ExecPlan Express. "Though we have been a leading provider of software for the professional financial services industry, we have seen a significant increase in interest by consumers who want to manage their own personal finances and have concerns of what congress may or may not due and how that will impact their taxes and ultimately their personal retirement goals."

Like most comprehensive retirement planning software packages, ExecPlan Express provides a free fully functional 30 day evaluation copy at their website www.execplanexpress.com along with detailed tutorials and sample reports. Though the software was developed for professional financial advisors, it has an intuitive design that makes it easy for the consumer who wants to take control of their own personal finances and at $299 it is also relatively inexpensive for those who want to continue using it beyond the 30-day trial period.

Sawhney Systems is a provided of comprehensive financial planning software for the professional financial advisor. For information on our products ExecPlan and ExecPlan Express please contact us at (800)850-8444.