|
|
|
What Tax Return Software Will You Use?
The days of manually preparing tax returns are over, unless you limit your tax practice to clients with only W-2 wages, some interest income and no itemized deductions. With Alternative Minimum Tax, Passive Loss Rules, Limitations on Personal Exemptions and Itemized Deductions, Depreciation for rental and business property, tax preparation software program is a necessity.
|
|
|
|
|
|
And you will never have to worry about a making manual math error with a tax return software program. There are many different types of tax preparation software programs running from $49 to $3,000. In choosing a tax software program, the most important consideration, in my opinion, is technical support and diagnostic strengths. All tax preparation programs alert you to potential problems with the return. These alerts are called diagnostics.
| | |
|
The September, 2005 issue of the Journal of Accountancy has a comparison of several tax return preparation programs. This review leaves out less expensive programs.
One nice feature of the large tax preparation programs is that they allow tax preparers to pay for using the program on a per return basis so you don’t have to invest $3,000 to have the full blown program installed on your computer. I would suggest talking to other tax preparers in your community to find out what software they are using. This association will be invaluable in providing a key technical support contact. |
|
|
|
|
|
|
|
|
| ©2007 Michael Johnston, CPA. All Rights Reserved. |
|
| |