In the Global version of the software you can create a Tax Regime with a specific currency and Tax brackets.
Once set up you can edit this in the plan in Dashboard - Tax Regime
Tax Brackets and how they work
If you enter the following
This means Income up to $10,000 is taxed at 0% and income above $10,000 is taxed at 15%.
Go to Year View - Taxes tab to see the details
If the above is entered with $100,000 income as an example you will see:
If you instead enter this as the Tax Regime
It is the same thing as above i.e. This means Income up to $10,000 is taxed at 0% and income above $10,000 is taxed at 15%. However it is now shown explicitly in Year View as below:
To have multiple thresholds add them in order, for example below
Means up to $10,000 is 0% tax,
between $50,000 and $10,000 is 15% and
above $50,000 is 20% as shown below
With Dividends, Interest and Capital Gains you have the option of using the Income Tax Rates set as above by using the slider
Or by setting the tax rates on these types specifically:
Finally, the threshold Escalation is how the Tax Brackets increase over time. The Tax Brackets change with this percentage not the Tax rates
See this in Year View - Taxes tab - Tax Summary. For example with a Threshold Escalation in place in year 1 you see:
And in year 2 the Tax Brackets increase:
Any questions please contact support@planwithvoyant.com or click on the client name and Request Support