Planit:Summary Cash Flow (Malaysia)
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You are simply going to enter in the Personal Income and Investment Income the clients may be currently have. You would then hit calculate.
- Taxes Paid – The tax rates are calculated from the income and savings values.
- Savings identified here will be used in all projections.
- The jurisdiction you set on the Personal Information screen determines the tax rates used here.
- When you are satisfied with the cash flow information entered, click on the “Next” icon to proceed.
- You also have access to a Income Tax Projection report.
TIP: The Family Expenses number is calculated based on the reality that there are only three things that people can do with their money, 1) Save it 2) Pay it in Taxes or 3) Spend It. Thus the family expenses are calculated by taking total income minus taxes, minus savings.