Money: Can I Model Schedule C Info in The Tax Estimator? (174117)
The information in this article applies to:
- Microsoft Money 2004 Deluxe
- Microsoft Money 2003 Deluxe
- Microsoft Money Deluxe 2002
- Microsoft Money 2001
- Microsoft Money 2000
- Microsoft Money 99
- Microsoft Money 98
- Microsoft Money 2000 Business and Personal
- Microsoft Money 98 Deluxe Edition
- Microsoft Money 98 Financial Suite
This article was previously published under Q174117 SUMMARY The Financial Suite of Microsoft Money contains a Tax
Estimator Worksheet. The goal of the Tax Estimator is to help the average Money
user estimate their taxes. It is not intended for individuals with small
businesses who need to track tax information on a Schedule C tax form.
MORE INFORMATION The purpose of Tax Estimator, is to help the average person
become aware of the general state of their taxes year-round. Many people pick
some random number of withholdings and discover in April that they withheld too
much or too little. Withholding too much is in essence providing an
interest-free loan to the government; withholding too little can result in a
large tax payment due in April and possible fees.
The Tax Estimator
takes into consideration normal personal paycheck income reported on 1040 tax
forms. Standard deductions reported on a Schedule A tax form are also taken
into consideration when estimating how much you will owe in federal
withholding.
| Modification Type: | Major | Last Reviewed: | 1/5/2005 |
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| Keywords: | kbinfo kbMoneyGuide KB174117 |
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