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Turbo Tax type programs for home and business

Posted by ladybug1 (My Page) on
Sat, Feb 18, 06 at 15:59

I am trying to help my elderly parents with some bookkeeping tasks so that tax time is easier for them. I have looked at Quicken and Turbo Tax for record keeping. I don't want to necessarily do all the "fancy" stuff that Quicken does. I just really need it to record expenditures and income and I would like for the program to automatically add the columns at the end. I guess the other thing I need to know is how many categories can you have with Quicken and Turbo Tax? My parents have some income from rental property.


Follow-Up Postings:

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RE: Turbo Tax type programs for home and business

I don't know the limit on the number of categories and subcategories in Quicken, but I'm sure it's more than you could ever need. For each tax-related category, you identify it as to how is is to be used on the Tax Return (i.e. Schedule A, Charitable Contributions; Schedule B, dividend Income; Form 2441, Qualifying Childcare Expenses, etc)from a pull-down menu in Quicken when you set up the category. I've never downloaded directly from Quicken to TurboTax, preferring to use the totals on the Quicken reports to do a manual input.


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RE: Turbo Tax type programs for home and business

Hi Ladybug,

I have a cabin rental business, 7 cabins that I own, 22 that I manage. I use quick book for the montly/daily record keeping and then use Turbo Tax Premier for annual taxes.

I find them both easy to use and with each you can have many properties.

jerri


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RE: Turbo Tax type programs for home and business

Another option might be some pre-made templates for whatever you may have on that computer for a spreadsheet (Excel, Works, Quattro, etc.). You might even find some which are freeware or much cheaper than the Intuit products.

Here is a link that might be useful: My Google search for business spreadsheet templates


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RE: Turbo Tax type programs for home and business

I appreciate the information each of you sent. I probably need to get my dad to call the tax preparer and ask about categories (identify them). My dad can make what should be easy extrememly complicated by too much detail.

Thanks!


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