This article is part of an ongoing investigation of the two-dimensional Jacobian conjecture. In the first paper of this series, we proved the generalized Magnus' formula. In this paper, inspired by cluster algebras, we introduce a sequence of new conjectures including the remainder vanishing conjecture. This makes the generalized Magnus' formula become a useful tool to show the two-dimensional Jacobian conjecture. In the forthcoming paper(s), we plan to prove the remainder vanishing conjecture.