Tax Planning Software

[erchess]

I wonder what Tax Planning Software people use. I have but have never used the Drake Tax Planning Program. I'm not impressed with it because it seems to be basically just a template for putting taxpayer information on an excel spreadsheet. For one thing I'm expecting the program to know current rules and allow me to easily enter scenarios such as adjusting tax rates changing the rules re credits and so on. For another thing I don't currently own excel. In the past when I have tax planned I used a blank sheet of paper and a pencil. Any thoughts would be appreciated.

[kpangelinan]

I wonder what Tax Planning Software people use. I have but have never used the Drake Tax Planning Program. I'm not impressed with it because it seems to be basically just a template for putting taxpayer information on an excel spreadsheet. For one thing I'm expecting the program to know current rules and allow me to easily enter scenarios such as adjusting tax rates changing the rules re credits and so on. For another thing I don't currently own excel. In the past when I have tax planned I used a blank sheet of paper and a pencil. Any thoughts would be appreciated.

Check out tax coach....I tried it for a short time and didn't have enough time to dedicate to it to honestly give it a try, but I did do a few plans for some of my clients and it seemed to work great for them. Some good info and a very nice presentation to print and give to a client.

[S T]

Tax Software

My Tax Software has the Tax Planning,

and then I also use CFS Tax Tools or Small Business Tools

Sandy

[taxmandan]

I'm starting to think that tax planning is an oxymoron.

[kpangelinan]

I'm starting to think that tax planning is an oxymoron.

Hahahaha....good point.

[Dusty2004]

Pro Series

I really like the Tax Planning feature in Pro Series. You can do multiple scenarios and see the results side by side. They also keep it up to date as tax laws change.

Dusty

[DaveinTexas]

Drake Tax Planning

I wonder what Tax Planning Software people use. I have but have never used the Drake Tax Planning Program. I'm not impressed with it because it seems to be basically just a template for putting taxpayer information on an excel spreadsheet. For one thing I'm expecting the program to know current rules and allow me to easily enter scenarios such as adjusting tax rates changing the rules re credits and so on. For another thing I don't currently own excel. In the past when I have tax planned I used a blank sheet of paper and a pencil. Any thoughts would be appreciated.

Here, here...I've been waiting for someone to make a comment on Drake's Tax Planner. It is bad! It almost always calculates AMT when it is not even an issue on the return. It has never been even close to approximate.

I've been thinking about switching over to Pro Series or some other more sophisticated software for the add-ons they offer.

[DonPriebe]

Order the crystal ball option

Here, here...I've been waiting for someone to make a comment on Drake's Tax Planner. It is bad! It almost always calculates AMT when it is not even an issue on the return. It has never been even close to approximate.

If you ran your Drake planner on December 16 and it showed 2010 AMT liability for a client who had never had AMT issues in the past, it may well have been correct. I don't know of any planner than can accurately predict what Congress will do.

[Jesse]

My Tax Software has the Tax Planning,

and then I also use CFS Tax Tools or Small Business Tools

Sandy

I really like the Tax Planning feature in Pro Series. You can do multiple scenarios and see the results side by side. They also keep it up to date as tax laws change.

Dusty

I use ProSeries & CFS Tax Tools and am pleased with both products.

[DaveinTexas]

This happens on previous year's versions as well

This actually has happened in the past 3 or 4 years in the DTP. It's not reliable and sometimes does not figure credits correctly either.