Microsoft KB Archive/174117

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Money: Can I Model Schedule C Info in The Tax Estimator?

Article ID: 174117

Article Last Modified on 1/20/2007



APPLIES TO

  • Microsoft Money 2004 Deluxe Edition
  • Microsoft Money 2003 Deluxe Edition
  • Microsoft Money 2002 Deluxe Edition
  • Microsoft Money 2001 Standard Edition
  • Microsoft Money 2000 Standard Edition
  • Microsoft Money 99 Standard Edition
  • Microsoft Money 98 Standard Edition
  • Microsoft Money 2000 Business & Personal Edition
  • Microsoft Money 98 Deluxe Edition
  • Microsoft Money 98 Financial Suite Edition



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.


Additional query words: Money2004w_money money2k 6.0 7.0 8.0 9.0 m2001 hat contractor farm own company Can Model Schedule C Info Tax Estimator Schedule A 1040

Keywords: kbinfo kbmoneyguide KB174117