The new ATX program will automatically take care of a lot of the questions discussed on this board.
ACQUISITION DEBTover $ 1 million is now on the Schedule A worksheet for mortgage interest deduction. It was not there last year unless I overlooked it.
SIMPLE IRA - Just fill in the worksheet and the program calculates the deduction (or over-contribution) and puts the deductible amount on the right line.
Other worksheets do the same thing. All you need to do is fill in the blanks. Of course you still have to know whether a blank needs to be filled in and where to enter it. I believe most other tax programs have these features also.
Consequently, it seems pointless for self-study CPE courses to ask so many questions about allowable amounts for exemptions, standard deductions, taxable social security and a lot of other things the computer will calculate so you can spend your time on things you really need to know like what you are going to eat for Thanksgiving.
ACQUISITION DEBTover $ 1 million is now on the Schedule A worksheet for mortgage interest deduction. It was not there last year unless I overlooked it.
SIMPLE IRA - Just fill in the worksheet and the program calculates the deduction (or over-contribution) and puts the deductible amount on the right line.
Other worksheets do the same thing. All you need to do is fill in the blanks. Of course you still have to know whether a blank needs to be filled in and where to enter it. I believe most other tax programs have these features also.
Consequently, it seems pointless for self-study CPE courses to ask so many questions about allowable amounts for exemptions, standard deductions, taxable social security and a lot of other things the computer will calculate so you can spend your time on things you really need to know like what you are going to eat for Thanksgiving.
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