Look for depth, breadth of information in tax planning software.

Existing projects may be opened to display current data or you can begin immediately entering data in any column. Data can be entered in only one column at a time, although the Tools pull-down menu allows copying data from any column to another column, as well as deleting all data in any column. To change any column data, click anywhere in the column, then click on any row heading such as Ordinary Income to open a worksheet window. Entering the worksheet data and closing the window transfers the data to the selected column and immediately displays the calculated results. The row headings are organized similarly to Federal Form 1040 for ease of access.

A Bridge icon triggers a function to copy required client information directly from the TaxWorks tax program when the appropriate path is entered. After using the program for a short time, it appears a helpful addition would be to allow data in a particular field (such as deductions, for example) to be copied to one or more columns so that its isolated effects could be immediately evaluated for several or all scenarios. As it is, changes, such as deductions, must be individually entered in each column unless one entire column is copied to another.

The user can click the U.S. map icon to open a generic state worksheet. Here state information can be entered, overriding federal information if desired. A handy calculator is available, made more useful by a Paste key that transfers the result to the selected planner data field. The user can also check a selection to automatically paste the result when the "=" key is pressed.

The Data pull-down menu allows firm and client data to be entered. Also available from the Data menu is the Preferences window, where the user selects an annual inflation rate factor, an interesting and useful feature. Inflation sensitive items such as EIC, Deductions and Exemptions are adjusted by the annual inflation rate factor.

Output from the application is simple to produce. A Print pull-down menu allows the main worksheet, PAL or AMT or all worksheets to be printed. A slick Create PDF choice under the File menu pull down quickly creates a PDF of client data for easy viewing or transmittal.

Application questions can be answered through a thorough help file included with the program. Although not likely to be required for the planner itself, TaxWorks "works" to keep the cherries fresh by providing live toll-free support for all its products.

Summary

TaxPlanner keeps things simple but produces speedy results for up to five tax scenarios. Its inflation adjuster and instant PDF creator are useful additions to the application.

TaxWorks

www.TaxWorks.com

800-843-1139

By Glenn Gordon