The Planner is based on US tax law and models retirement income such as Social Security and Required Minimum Distributions as per IRS regulations.
Assumptions
If you are not a US citizen, PlannerPlus may be useful for projecting a long term financial plan, but there will be differences you'll want to be aware of. The Planner accounts for Social Security and Required Minimum Distributions as per the IRS Tax Code and does not have features for the retirement and tax regulations of other countries.\nFor example, PlannerPlus cannot implement tax rules or retirement schemes from countries like Australia. Additionally, it lacks options to manually adjust or apply non-U.S. tax rates and does not support equivalents to retirement accounts like the 401(k) outside the U.S.
Taxes
For PlannerPlus users, income taxes are estimated using all currently available state and federal tax rates and tax brackets through longevity. Or, because tax rates may rise at the end of 2025, you can switch to project your federal taxes using higher rates in the Assumptions section of My Plan. (For this, the system will employ the 2017 rates and brackets for 2026 taxes onward.)
In addition, income taxes are estimated using either standard deductions for single/married filers or itemized deductions, whichever is optimal each year for both federal and state income tax calculations. Free users have a flat 3% state tax rate modeled.
Iorkarounds for International Users
While PlannerPlus does not natively support international tax laws, users can adopt the following strategies:
Use Non-Taxable Pension Modeling: Model non-taxed employment income as a non-taxable pension in the software. This will avoid triggering U.S. taxes on income. Roth-Type Accounts for Retirement Savings: Use features that simulate Roth-type accounts to represent tax-free withdrawals, avoiding U.S. tax triggers or RMDs. Exclude Medicare Projections: To skip Medicare inclusion, select the 'Itemize' option in the Medicare menu.