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Drake Planner 2018 MFS warning

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    Drake Planner 2018 MFS warning

    I notice the Drake Planner for 2018, while correctly limiting the Sch A taxes deduction to 10,000, does not properly lower that limit to 5,000 for Married Filing Separate filing status. Just a heads up.

    #2
    Originally posted by John of PA View Post
    I notice the Drake Planner for 2018, while correctly limiting the Sch A taxes deduction to 10,000, does not properly lower that limit to 5,000 for Married Filing Separate filing status. Just a heads up.
    The Drake Planner is still work in progress and there has been a lot of discussion on the Drake board to use the results with lot's of caveats.
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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      #3
      Thank you Astman. I have found the planner helpful in setting up 2018 Estimated and liked what it did include from the new tax law.

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        #4
        Originally posted by John of PA View Post
        Thank you Astman. I have found the planner helpful in setting up 2018 Estimated and liked what it did include from the new tax law.
        I am taking a much more cautious approach for 2018 estimated taxes for returns that have both W2/1099-R withholdings and ES. My recommendation is to keep the ES about the same as 2017 because the W2/1099-R withholdings were already adjusted by the payer.

        I would hate to see a client in a situation where there balance due exceeds expectation and possibly get hit with a penalty!
        Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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