Mortgage Interest

When you enter mortgage information in your plan, your mortgage interest is included in the tax calculation. The Planner will compare your standard deduction and below the line deductions, including mortgage interest, on an annual basis. We will then apply the deduction that’s most beneficial to you.


Method for entering deductible expenses

The PlannerPlus Budgeter also allows you to identify individual expenses such as property taxes and charitable contributions as tax deductible. The Planner will compare your standard deduction and these below the line deductions on an annual basis and apply the one that’s most beneficial to you.

Step 1: Navigate to My Plan > Expenses and Healthcare

Step 2: Turn on the Planner+ Budgeter

Step 3: Either setup the Planner+ Budgeter or (if already set up) press "Edit ✎"

Step 4: Find the appropriate category

Step 5: Press "Add Expense"

Step 6: Select the appropriate subcategory and label the expense

Step 7: Decide the frequency of the expense

Step 8: Enter your expense in both Must Spend and Like to Spend

Step 9: Select 100% deductibility (this is important)

Step 10: Select Start and End dates for the expense


Property Taxes

Your property taxes will display as State and Local Taxes in the Federal Tax Deductions Chart.


Charitable donations

When you're engaged in financial planning, you often manage multiple goals. These goals may include donating to charitable organizations. You may use the above method to account for charitable donations in your plan.

Your charitable donations will display as Gifts in the Federal Tax Deductions Chart.


To view the Federal Tax Deductions applied in your plan, navigate over to the Insights > Taxes Chart.


Deductible Health Insurance Premiums

If you pay your health insurance premiums through your payroll and they are deductible, you may want to deduct the premium expense from your income, and include the expenses in your healthcare expenses.

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