pose some problem especially in depreciation schedules. I am facing that problem this fall as I change from TaxSlayer to Taxwise. Do you have any suggestions for me as I check th conversion of my 2007 returns. Any tips to make the process as painless as possible. Thanks.
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Chief
I had to do this one year for depreciation. Very time-consuming, to say the least.
What I started off doing was to enter as much data as I could stand to. I worked on it for a day or two and got about halfway through the depreciation then just quit and decided to enter each remaining client's data shortly before our meeting. This worked out nicely for me and I wish I had done this from the start.
In addition, make sure all the loss carryforwards are done, as the transfer did not do this and I had to. Also, state refunds from the prior year might need to be checked, which probably is not too much of an issue in your state. I had two that did not transfer to the new software. One I caught, one slipped by me.
I think you'll be just fine, if you take a quick review of the last year's return for these items before starting the client's '08, just to be on the safe side.
Good luck! -
Chief, I'm converting from Intellitax to Taxwise. The conversion program wasn't working 'cause my computer has a Vista 64bit OS. But the tax software works fine.
My work around for this problem was to have TW support grab my data, convert it for me, then send it back. This was done through the '07 program, so I'll bring the data forward when '08 is installed. I haven't poked around in my files too much yet, but looks like depreciation is there. Maybe this will help you too? I found the support person extremely helpful & nice. Good luck!Comment
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