The Add Inc Tax button within the structured income plan allows you to add income tax within the structured income plan. Below are the step-by-step guidelines for adding an income tax into the structured income plan.
Step 1: Edit: Click on the green Edit button underneath the Structured Income Planning sub-heading.
Step 2: Display Options: Click on the green Display Options underneath the Structured Income Planning subheading.
Step 3: View Tax Rate: Within the Column Display Options, click on the green View Tax Rates.
Step 4: Display Options: Click on the green Display Options underneath the Structured Income Planning subheading.
Step 5: View Calendar Years: Within the Column Display Options, click on the green View Calendar Years.
Step 6: Structured Income Planning Page: The Year columns have been switched to calendar years.
Step 7: Display Options: Click on the green Display Options underneath the Structured Income Planning subheading.
Step 8: Return with Grouping: Click on the Green Return with Group button at the bottom lefthand side of the screen.
Step 9: Structured Income Planning Page: The subgrouping accounts and Incomes have been added to the structured income plan.
Step 10: Add Inc Tax: Click on the green Add Inc Tax button underneath the Structured Income Planning sub heading.
Step 11: Tax Name: Filter in a Tax Name.
Step 12: Starting Effective Tax Rate: Filter in the numerical amount for the starting effective tax rate.
Step 13: Tax Description: Type in a short description.
Step 14: Save: Click on the green save button underneath the Manage Tax subheading.
Step 15: Structured Income Planning Page: The new income tax column should have a separate column in the structured income plan.
Step 16: Saving the Structured Income Planning Scenario: Click the green Save button underneath the Structured Income Planning subheading.
Step 17: 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 18: Cancel: If you need to go back to the previous page, click on the green Cancel button underneath the Structured Income Planning subheading.
Step 19: Logout: To sign out of SIPS, click on the Sign Out heading that is located in the upper right-hand side of the screen.
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