Method and system for facilitating management of paycheck disbursements
First Claim
1. A method of facilitating optimization of a payee'"'"'s paycheck deductions, the method comprising:
- receiving a current net pay of the payee, wherein the current net pay is based on the payee'"'"'s paycheck;
receiving a change in tax withholding;
presenting a payee with options for configuring a deduction, wherein the deduction is one of multiple deductions associated with the paycheck;
receiving a selection of an option from the payee;
receiving an indication of other household income from the payee, wherein other household income comprises house income other than from a payer of the paycheck;
determining, by computer, a potential net pay of the payee, based on the change in the tax withholding, the received selection from the payee, and the received indication of other household income;
simultaneously displaying the current net pay and the potential net pay; and
receiving a selection from the payee to implement the option.
1 Assignment
0 Petitions
Accused Products
Abstract
A method and system are provided for helping a user configure her paycheck deductions and disbursements. Paycheck information is retrieved (e.g., from an aggregator, from benefits providers, from the user) and a tool is activated to present an electronic paycheck summary to the user. A tax engine is invoked to determine whether her net pay can be increased by reducing the amount of pay withheld for taxes. The user is then invited to change any or all of the benefit deductions taken from her pay. For example, she may be invited to select from a number of insurance plans (e.g., medical, dental, life insurance), select a level of contribution to a retirement account, open an investment account, and so on. Action to implement some or all of the user'"'"'s selected deductions may then be initiated electronically. Alternatively, she may be presented with a checklist of actions she needs to take.
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Citations
9 Claims
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1. A method of facilitating optimization of a payee'"'"'s paycheck deductions, the method comprising:
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receiving a current net pay of the payee, wherein the current net pay is based on the payee'"'"'s paycheck; receiving a change in tax withholding; presenting a payee with options for configuring a deduction, wherein the deduction is one of multiple deductions associated with the paycheck; receiving a selection of an option from the payee; receiving an indication of other household income from the payee, wherein other household income comprises house income other than from a payer of the paycheck; determining, by computer, a potential net pay of the payee, based on the change in the tax withholding, the received selection from the payee, and the received indication of other household income; simultaneously displaying the current net pay and the potential net pay; and receiving a selection from the payee to implement the option. - View Dependent Claims (2, 3, 4, 5, 6, 7, 9)
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8. A non-transitory computer-readable medium storing instructions that, when executed by a computer, cause the computer to perform a method of facilitating optimization of a payee'"'"'s paycheck deductions, the method comprising:
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receiving a current net pay of the payee, wherein the current net pay is based on the payee'"'"'s paycheck; receiving a change in tax withholding; presenting a payee with options for configuring a deduction, wherein the deduction is one of multiple deductions associated with the paycheck; receiving a selection of an option from the payee; receiving an indication of other household income from the payee, wherein other household income comprises house income other than from a payer of the paycheck; determining, by computer, a potential net pay of the payee, based on the change in the tax withholding, the received selection from the payee, and the received indication of other household income; simultaneously displaying the current net pay and the potential net pay; and receiving a selection from the payee to implement the option.
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Specification