Within the structured income plan you have the ability to add an expense into the plan. Below are the step-by-step guidelines for adding an expense into the structured income plan.
Step 1: Edit: Click on the green Edit button underneath the Structured Income Planning sub-heading.
Step 2: Add Income: Click on the green Add Income button underneath the Structured Income Planning heading.
Step 3: Other Income Name: Type in a title for the other income name.
Step 4: Social Security Income: Leave the box unchecked.
Step 5: First Year Income: Type in the numeric amount of the expense in the first year.
Step 6: Inflation Rate: Type in the inflation rate.
Step 7: Number of Months of Income in First Year: Type in the number of months of payment in the first year. The default amount is set a 12.
Step 8: Income Description: Type in the expense description.
Step 9: Delay the Income Start Until Age: Check this box if the expense will start at a different age than the start age of the structured income plan. If starting the expense at the beginning of the structured income plan, leave the box unchecked.
Step 10: Age to Begin Income: If the delay the income start until age checkbox was checked. Type in the age to begin income. Default is set to year 1, which will start the expense in year 1.
Step 11: Radio Buttons: Click which radio button the income is associated with. The default is set with Client 1.
Step 12: Tax Calculation Option: In the text box, click on the down carrot arrow and select which tax option this income will be.
Step 13: Save: Click the green save button underneath the add income subheading.
Step 14: Structured Income Planning Page: The new income should have a separate column in the structured income plan.
Step 15: Saving the Structured Income Planning Scenario: Click the green Save button underneath the Structured Income Planning subheading.
Step 16: Edit: If you need to make an edit to the structured income plan click on the green edit button underneath the Structured Income Planning heading.
Step 17: Cancel: If you need to go back to the previous page, click on the green Cancel button underneath the Structured Income Planning subheading.
Step 18: Logout: To sign out of SIPS, click on the Sign Out heading that is located in the upper right-hand side of the screen.
If you feel you need more support or would like to set up demo time with one of our representatives, please contact us at: +1-888-449-6917 or support@planscout.com.
