This article addresses the error message that you may receive that says 'social security information is blank' when adding Social Security income on the Structured Income Planning page without prior entry on the Client Dashboard Incomes page.
Below is a hypothetical example of a client that would like to retire at age 67 and you would like to enter in the social security income when you are at the Structured Income Planning page.
To learn more about Add Inc Tax functions within SIPS Essentials see articles:
- Calculating and Applying Tax Rates in SIPS Essentials
- Setting Effective Tax Rates for SIPS Essentials
If you would like to learn more about advanced tax planning in SIPS Advanced see article:
To learn about setting up tax calculations options for income and expesne see articles:
- Tax Calculation Option: Adding Assets into a Structured Income Plan
- Tax Calculation Option: Adding Income and Expenses into a Structured Income Plan
To learn more about forecasting effective tax rates see articles:
Step 1: Edit: Click on the green edit button underneath the Structured Income Planning heading.
Step 2: Add Income: Click on the green Add Income button underneath the Structured Income Planning heading.
Step 3: Other Income Name: Enter in a title for the column. (SS)
Step 4: This is Social Security Checkbox: Click on the checkbox.
Step 5: Ok for The Error Message: Click the okay button for the error message.
Step 6: Cancel: Click the green cancel button underneath the manage income subheading.
Step 7: Client Dashboard: Click on the client dashboard button underneath the clients name.
Step 8: GoTo Incomes: Click on the green GoTo Incomes button underneath the Client Information heading.
Step 9: Edit: Click on the green edit button underneath the Incomes heading.
Step 10: Social Security: Enter in the Social Security Information. (Client will retire at 67, yearly pay $24,000, 2% COLA)
Step 11: Save: Click on the green save button underneath the Incomes heading.
Step 12: Social Security Numbers: SIPS will have automatically filtered in the all the years social security number.
Step 13: Structured Income Planning: Click on the Structured Income Planning button underneath the Clients name.
Step 14: Edit: Click on the green Edit button underneath the Structured Income Planning heading.
Step 15: Manage: Click on the green manage button within the SS column.
Step 16: This is Social Security Checkbox: Unclick the This is Social Security Checkbox.
Step 17: This is Social Security Checkbox: Click on the This is Social Security Checkbox. The information that was put in on the incomes page in the client dashboard should automatically be filtered in after you click on the checkbox.
Step 18: Tax Calculation Option: SIPS should have automatically changed the tax calculation option to Social Security (Line 6a of the tax form).
Step 19: Save: Click on the green save button underneath the Manage Income heading.
Step 20: Structured Income Planning Page: You will automatically be taken back to the Structured Income Planning Page.
Step 21: SS Column: A new column will have automatically be within the plan, the SS column displaying the correct amounts.
Step 22: Save: Click on the green Save button underneath the Structured Income Planning heading.
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