4.1. High level report
The report page is a display of the major account balances for all of the years of your financial plan. This also has a feature to drill down to more detailed information for a selected year. The information listed here consists of:
- The year. This is also a link to a snapshot of a selected year, showing the detailed account values for each account you enterd on the "update" page, plus various totals, including net worth and excess of income over expenses or a deficit.
- Total assets.
- Total liabilities.
- The difference between them or the net worth.
- Total annual income.
- Total annual expenses.
- The difference between them or the deficit/saved amount
4.2. Detail report
When you click on the year of the high level report page, the system drills down to more detailed information for a selected year. The information listed here consists of:
- The year.
- Tthe detailed account values for each account you enterd on the "update" page, plus various totals, including net worth and excess of income over expenses or a deficit:
- Total assets.
- Total liabilities.
- The difference between them or the net worth.
- Total annual income.
- Total annual expenses.
- The difference between them or the deficit/saved amount.
4.3. Tax estimation report
A simplified report, which contains the essentials of IRS form 1040, includes
Gross income
Excluded portion of Social Security inccome
Taxable gross
IRA/401K withheld
Taxable income
Interest & dividends
Adjustments
Adjusted gross
Medical deduction
Charitable contributions
Mortgage interest
Property tax
Itemized deductions
Marital status
Exemptions
Taxable income
Income tax due