1041: for even the most seasoned tax professionals, preparing and filing Form 1041 returns can be a complex and time-consuming task.Where do you and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. your clients go for help when seeking information for filing a Form 1041 return for an estate or trust? The IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. Web site? The answer is "Yes" if you have patience and a sense of humor Noun 1. sense of humor - the trait of appreciating (and being able to express) the humorous; "she didn't appreciate my humor"; "you can't survive in the army without a sense of humor" sense of humour, humor, humour . Visitors to the site are confronted with a PDF file See PDF. containing 44 pages of instructions! They discover that such a return could entail entail, in law, restriction of inheritance to a limited class of descendants for at least several generations. The object of entail is to preserve large estates in land from the disintegration that is caused by equal inheritance by all the heirs and by the ordinary completing Schedules A,B,D,G,I, and J, as well as K-1s for each person receiving distributions. Users also might conclude that the 44 pages of instructions were insufficient for the task at hand. For even the most seasoned tax preparation professionals, preparing and filing Form 1041 returns can be complex and time-consuming time-con·sum·ing adj. Taking up much time. time-consuming Adjective taking up a great deal of time Adj. 1. . Fortunately, the applications described in the following reviews feature an extensive range of functions and capabilities that enable tax preparers to work smarter, faster and with much less paper. All of these applications incorporate features that help preparers determine what schedules and forms must be completed and submitted for a particular Form 1041 return. One application offers a list of questions that prompts the preparer to compile To translate a program written in a high-level programming language into machine language. See compiler. the necessary information, while another offers a series of online worksheet See spreadsheet. worksheet - spreadsheet forms that address all of the filing requirements for a particular return. These applications also direct preparers to the tax return requirements of individual states. Saving time and improving accuracy are two of the most important reasons for using packaged software See software package. . Personal and financial information entered on a worksheet, form or schedule is automatically transferred to the appropriate lines or spaces on other documents--eliminating the time and tedium associated with manually reentering re·en·ter also re-en·ter v. re·en·tered, re·en·ter·ing, re·en·ters v.tr. 1. To enter or come in to again. 2. To record again on a list or ledger. v.intr. data. Because calculations are likewise performed automatically, the opportunities for simple mathematical errors also are reduced. Schedules, worksheets or forms can be reviewed by clicking on links or opening electronic files, rather than sorting through stacks of paper. Other efficiencies are gained through online note forms, calendars and appointment books, as well as having the capabilities to print client invoices, letters and labels. These applications also enable users to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the speed and easy access to information on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the . Although certainly nothing new, e-filing Filing income tax and other governmental forms online. capabilities are included in many of the packages. Client e-mail messages can be easily composed and sent with related files attached. Links to company Web sites provide tax preparation support, IRS updates and application information. Which application might work best for your firm? That depends on a variety of factors, including the types of tax preparation services Tax preparation services Firm that prepare tax returns for a fee. typically required by your clients, the general capabilities or functions you value most, and your preferences regarding computing computing - computer styles and software vendors. Built-In built-in - (Or "primitive") A built-in function or operator is one provided by the lowest level of a language implementation. This usually means it is not possible (or efficient) to express it in the language itself. Custom Spreadsheets The following is a list of spreadsheets. Freeware/open source software Online spreadsheets
ATX See ATX motherboard. (hardware, standard) ATX - An open PC motherboard specification by Intel. ATX is a development of the Baby AT specification with the motherboard rotated 90 degrees in the chassis. TotalTax Office Prepares 1041 Returns With Spreadsheet spreadsheet Computer software that allows the user to enter columns and rows of numbers in a ledgerlike format. Any cell of the ledger may contain either data or a formula that describes the value that should be inserted therein based on the values in other cells. Format ATXForms is one of the "babies" in the tax software business. Founded in 1992 by Glynn Glynn (Irish: An Gleann) is a quiet rural village on the outskirts of Larne, County Antrim, Northern Ireland. It had a population of 641 people in the 2001 Census. It is in the Larne Borough Council area. and Steve v. t. 1. To pack or stow, as cargo in a ship's hold. See Steeve. Willett, ATX has always produced software using a Windows interface. It is well designed, as evidenced by its stated growth to 40,000 professional users. TotalTax Office combines ATX's popular MAX and Saber packages, as well as Kleinrock's TaxExpert and ZillionForms, with more than 10,100 tax forms, including school district applications, in one package. Simple to install, you're you're Contraction of you are. you're you are you're be up and running in a matter of minutes A Matter of Minutes is an episode from the television series The New Twilight Zone. Cast
CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). are several tutorial An instructional book or program that takes the user through a prescribed sequence of steps in order to learn a product. Contrast with documentation, which, although instructional, tends to group features and functions by category. See tutorials in this publication. videos narrated by "Maxwell," ATX's online help "mascot MASCOT - Modular Approach to Software Construction Operation and Test: a method for software design aimed at real-time embedded systems from the Royal Signals and Research Establishment, UK. " (think Microsoft (Microsoft Corporation, Redmond, WA, www.microsoft.com) The most successful and influential software company. Microsoft's software and Intel's hardware pioneered the PC and revolutionized the computer industry. Word's paperclip or Einstein Ein·stein , Albert 1879-1955. German-born American theoretical physicist whose special and general theories of relativity revolutionized modern thought on the nature of space and time and formed a theoretical base for the exploitation of atomic energy. ). While Max well currently talks you through preparing Form 1040 or an 1120S, the company indicates that he will be out of a job in the 2004 version, although the same level of guidance and assistance will be provided. (However, the information applies, in general, to all ATX programs.) Numerous on-line "Quick Tutors" also help with particular tasks. With the most recent version, online help is now field-specific, which saves some time. Also available online are the actual IRS instructions (in Acrobat Document exchange software from Adobe that allows documents to be displayed and printed the same on every computer. The Acrobat system created the Portable Document Format (PDF), which is widely used in commercial printing and on the Web. See PDF. format). According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. ATX's Web site, Web classes will be offered soon for those interested in learning more about the software. Accountants love spreadsheets, a feature ATX has used effectively in the program. Built-in custom spreadsheets, a power-user feature, can be created for any form, schedule or worksheet. Once the worksheet is created, Start Link/Finish Link, a built-in feature, is used to link individual cells to lines on forms where information is compiled and distributed from one form to another. When compared to the custom spreadsheets of other tax packages, ATX worksheets are more flexible, but also require more work to use them effectively. Accountants who do not enjoy spending a lot of time developing worksheets and links may find the package too time-consuming to justify the savings in dollars. Data is generally entered directly into on-screen on·screen or on-screen adj. & adv. 1. As shown on a movie, television, or display screen. 2. Within public view; in public. IRS forms. If you prefer interview-type input, you won't won't Contraction of will not. won't will not won't will find it for the fiduciary fiduciary (fĭd  `shēĕ'rē), in law, a person who is obliged to discharge faithfully a responsibility of trust toward another. module--it is only available for Forms 1040, 1065, 1120 and 1120S.
Fields with associated schedules or worksheets are bordered in maroon maroon, term for a fugitive slave in the 17th and 18th cent. in the West Indies and Guiana, or for a descendant of such slaves. They were called marron by the French and cimarrón by the Spanish. ;
clicking the rabbit icon "jumps" you to a screen for entering
supporting data. As you add forms, schedules and worksheets, a new tab
is created at the top, under the tool bar. Changing from one to another
is as simple as a mouse click.
You can buy ATX products individually or bundle them in just about any way imaginable i·mag·i·na·ble adj. Conceivable in the imagination: imaginable exploits. i·mag . ATX offers as much or as little as you need in the way of features--and all for pretty reasonable prices, too. Options include Saber PRS PRS Partnership (IRB) PRS Printer (File Name Extension) PRS Paul Reed Smith (Guitar Brand) PRS Pairs (shoe industry) 11, with access to all Saber forms and the ability to print 11 free returns; and TotalTax Office Plus, which includes MAX, Kleinrock's TaxExpert (with line-by-line integration within MAX), plus special editions for California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Employment research, as well as unlimited e-file For US IRS electronic tax filing, see . EFILE is the system used by the Canada Revenue Agency as a means for electronically transmitting tax returns. EFILE is only available to professional tax prepares and is not to be confused with the publicly available NETFILE. and Web organizer. ATX also offers accounting software (Total Accounting Office). While general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. data currently must be entered manually into the tax software, ATX says that an automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. data transfer from Total Accounting Office to tax forms will be available this year. Updates are available directly from the www.atxinc.com or from CD-ROMs mailed from the company. ATX supports data conversion from Intuit's ProSeries, MicroVision The Microvision was a hand-held game console released by the Milton Bradley Company in 1979. The Microvision was designed by Jay Smith, the engineer who would later design the Vectrex gaming console. , Drake drake 1. male duck. 2. loliumtemulentum. , Lacerte, IntelliTax. TaxWise, TaxWorks and others (see knowledge based area on the company's support page for a complete list). The company also offers an add-on A purchase of additional goods before payment is made for goods already purchased. An add-on may be covered by a clause in an installment payment contract that allows the seller to hold a security interest in the earlier goods until full payment is made on the later goods. feature called WebSite Builder Most web site builders are proprietary tools provided by web hosting companies which cater to people who wish to build their own websites without learning the technical aspects of web page production. that allows its customers to seamlessly link their Web sites to client-centered content pages, or obtain a complete turnkey See turnkey system. customized Web site with continuously updated financial content. This simple Web presence solution delivers benefits to ATX's customers' clients beyond what customers can effectively provide. ATX describes its online Financial Guidance Center as a "necessity for keeping current clients loyal and generating new clients." TotalTax's visually pleasing Windows interface, and features like Start Link, plus ATX's association with Kleinrock's for tax research, make it easy to slash through a 1041. If you like entering data directly onto IRS forms and appreciate the benefits of integrating with accounting software, give TotalTax serious consideration. ATX www.atxinc.com 877-728-9776 By Alfred Alfred, 849–99, king of Wessex (871–99), sometimes called Alfred the Great, b. Wantage, Berkshire. Early Life The youngest son of King Æthelwulf, he was sent in 853 to Rome, where the pope gave him the title of Roman consul. Charles Giovetti, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , ABA Aba (ä`bä), city (1991 est. pop. 264,000), SE Nigeria. It is an important regional market, a road and rail hub, and a manufacturing center for cement, textiles, pharmaceuticals, processed palm oil, shoes, plastics, soap, and beer. , ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment ProSystem fx Gives Users the Ability to Custom Design the Tax Preparation Toolbar A row or column of on-screen buttons used to activate functions in the application. Many toolbars are customizable, letting you add and delete buttons as required. Toolbars may be fixed in position or may float, which means they can be dragged to a more convenient location in the Dynamic link with Microsoft Excel (tool) Microsoft Excel - A spreadsheet program from Microsoft, part of their Microsoft Office suite of productivity tools for Microsoft Windows and Macintosh. Excel is probably the most widely used spreadsheet in the world. Latest version: Excel 97, as of 1997-01-14. allows for the import and export of Schedule K-1 information While Commerce Clearing House (CCH CCH Colegio de Ciencias y Humanidades (Spanish) CCH Certified Clinical Hypnotherapist CCH Cook County Hospital CCH Certified in Classical Homeopathy CCH Country Club Hills (Fairfax City, VA, USA) ) expanded its ProSystem fx tax software into a complete professional office system, over the last several years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time star of the system is still ProSystem fx Tax, a powerful, flexible tax program designed for any professional, from the small sole proprietor proprietor n. the owner of anything, but particularly the owner of a business operated by that individual. PROPRIETOR. The owner. (q.v.) to the largest multi-member firm. The ProSystem fx Fiduciary Tax Return Service comes with an extensive instruction guide and several online tutorials. The system comes on a CD-ROM, plus a 3-inch floppy 1. (programming, tool) Floppy - A Fortran coding convention checker. A later version can generate HTML. See also Flow. ffccc posted to comp.sources.misc volume 12. 2. floppy - floppy disk "permission diskette The official name for the floppy disk. See floppy disk. diskette - floppy disk ," which is necessary for installation. You can click a "Show Me" icon, and a multi-media presentation walks you through the installation process (should the installation confuse con·fuse v. con·fused, con·fus·ing, con·fus·es v.tr. 1. a. To cause to be unable to think with clarity or act with intelligence or understanding; throw off. b. you). Unlike most tax packages, ProSystem fx converts your data from your previous tax software in-house--a data conversion CD is sent with the software eliminating the need to send your data by mail to a third party. In the 2003 filing season, ProSystem fx introduced the Worksheet View to input data into the program, supplementing the interview style, input method. CCH believes that the new interface is easier to use and learn than the available systems. Worksheets, which should not be confused with spreadsheets, link to multiple fields in multiple forms. The links allow you to input the data once into a system organized by category, topics and sections rather than forms, thereby reducing the number of input screens. As with any input data, the actual forms still need to be manually reviewed to make sure the information is presented correctly. ProSystem fx contains all the features you expect in a fiduciary package--all types of estates and trusts, allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as of deductions to the different classes of income, distribution of income based on amounts or a percentage, and several others. Unique to this product, however, is the ability to integrate with CCH's tax research through either the CD-ROM or Internet version. This integration is context-sensitive--pertinent tax research can be accessed while in ProSystem fx. Tax research is not the only integration available. Since ProSystem fx is part of a complete office system, the program seamlessly integrates with all of CCH's other modules. In addition to the ability to import capital gain information from GainsKeeper, a dynamic link with Microsoft Excel allows for the import and export of Schedule K-1 information. CCH has a Web site specifically for ProSystem fx, enabling users to download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. upgrades, news and other information. Like the tax research CD-ROM, the Web site can be accessed from within ProSystem fx. Also, as with most professional packages, ProSystem fx grants a limited license for each module of the tax software to allow per-return processing, if your office does not prepare that many fiduciary returns. Another neat feature of ProSystem fx is the ability to custom design the tax preparation toolbar, so that the buttons you use most appear on the screen. Under "Options," click "Customize Toolbar." Your configuration will not change, as long as you have checked "User Sign On" in the installation screen. In addition to providing all of the state programs, ProSystem fx includes non-resident returns for most states. Many state forms are accessed from the same screen as the federal forms, so there's no exiting the federal module to get to the state. CCH also offers reasonably priced guide books on specific fiduciary information for each supported state. Also, if you're using the ProSystem fx individual tax module, the beneficiary beneficiary Person or entity (e.g., a charity or estate) that receives a benefit from something (e.g., a trust, life-insurance policy, or contract). A primary beneficiary receives proceeds from a trust or insurance policy before any other. K-1 data will export directly from the fiduciary system to your client's personal return--a nice, time-saving feature. CCH offers a professional, full-featured, easy-to-use package with ProSystem fx. The ability to access CCH's tax research CD-ROM, and the integration with CCH's myriad Myriad is a classical Greek name for the number 104 = 10 000. In modern English the word refers to an unspecified large quantity. The term myriad is a progression in the commonly used system of describing numbers using tens and hundreds. other products, makes this a package worth investigating. CCH Incorporated www.tax.cchgroup.com 800-739-9998 By Alfred Charles Giovetti, CPA, ABA, ATA "We use it to process all of our tax returns. We are able to integrate the processes of closing our clients' year and adjusting their entries with preparing their tax returns." --Tony Wendeln Murray Wells Wendeln and Robinson CPAs Piqua and Troy, Ohio Client Status System Tracks Progress on Returns, Allows 50 Custom Events FileCabinet Solution opens a door to paperless office Long predicted, the paperless office is still a myth. Although paper usage has been reduced in some organizations, it has increased in others. Today's PCs make it easy to churn out documents. As one technology eliminates paper, another comes along to increase usage. Since 1979, Creative Solutions, Inc., has always tried to put itself at the cutting edge of technology, to give its customers the best, most "creative solution" to any tax or accounting situation. The 1997 merger of Creative Solutions with Thomson Tax and Accounting (including RIA (Rich Internet Application) A Web-based application that approaches the speed and elegance of a local application. An RIA may refer to a browser-based application that uses AJAX or another enhanced coding technique. and PPC See Pocket PC, PowerPC and pay-per-click. PPC - PowerPC , among others) provides customers a full range of not only tax and accounting software, but research materials as well. New for 2004, UltraTax offers deeper integration with RIA Checkpoint's Line-Finder product. Users will be taken to tax form sensitive Help, based on their location in UltraTax. There are also some minor state enhancements. All state beneficiary reports are now "fully supported." The other minor additions include adding the Indiana Indiana, state, United States Indiana, midwestern state in the N central United States. It is bordered by Lake Michigan and the state of Michigan (N), Ohio (E), Kentucky, across the Ohio R. (S), and Illinois (W). Personal Property Tax returns, Massachusetts Massachusetts (măsəch `sĭts), most populous of the New England states of the NE United States. State
electronic filing, and Virginia Virginia, state, United StatesVirginia, state of the south-central United States. It is bordered by the Atlantic Ocean (E), North Carolina and Tennessee (S), Kentucky and West Virginia (W), and Maryland and the District of Columbia (N and NE). 1065. The UltraTax CD-ROM includes not only the 1041 software, but the 1040, 1065, 1120, 990, 706/709 and 5500 series, in addition to all state and local programs, and a tax planner. Currently, a separate 3-inch floppy licensing disk is included, and must be installed first, before installing the rest of the program. However, beginning with the 2004 filing season, the license diskette will be replaced by prompting the user to go online and download the license(s) from CSI CSI Crime Scene Investigator CSI CompuServe, Inc. CSI Commodity Systems, Inc. CSI Commodity Systems Inc. (Boca Raton, FL) CSI Crime Scene Investigation (CBS TV show) CSI Christian Schools International Connect during the installation process. All of the UltraTax modules integrate with Creative Solutions Accounting and the Depreciation Solution fixed asset manager. Ending balances and other pertinent PERTINENT, evidence. Those facts which tend to prove the allegations of the party offering them, are called pertinent; those which have no such tendency are called impertinent, 8 Toull. n. 22. By pertinent is also meant that which belongs. Willes, 319. data from these packages transfer directly to the appropriate forms and schedules of all UltraTax programs. In addition, FileCabinet Solution gives users a door to the paperless office. The UltraTax fiduciary module includes more than 50 calculating and non-calculating forms and schedules. The program handles multiples of 14 of those forms and schedules, in addition to the 250 beneficiaries per return, and numerous depreciable depreciable Of, relating to, or being a long-term tangible asset that is subject to depreciation. assets, rental properties, and asset sales. All states and localities are supported, including property tax for Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. , Kentucky Kentucky, state, United States Kentucky (kəntŭk`ē, kĭn–), one of the so-called border states of the S central United States. It is bordered by West Virginia and Virginia (E); Tennessee (S); the Mississippi R. , Michigan Michigan (mĭsh`ĭgən), upper midwestern state of the United States. It consists of two peninsulas thrusting into the Great Lakes and has borders with Ohio and Indiana (S), Wisconsin (W), and the Canadian province of Ontario (N,E). , Ohio, Texas, and, new for 2004, Indiana. UltraTax automatically calculates passive activity loss limits, miscellaneous deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. limits, alternative minimum tax and the credit for a prior year's minimum tax. Expenses are automatically allocated between tax-exempt and taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. . UltraTax also makes the appropriate calculations for charitable remainder trusts charitable remainder trust (Charitable Remainder Irrevocable Unitrust) n. a form of trust in which the donor (trustor or settlor) places substantial funds or assets into an irrevocable trust (a trust in which the basic terms cannot be changed or the gift withdrawn) , as well as first- and second-tier beneficiaries. Income can be allocated based on amount, percentage or a combination of the two. A variety of worksheets and reports print to give detailed information on any aspect of a return. If a 1041 beneficiary is a 1040 client, the K-1 data automatically transfers to that client's individual return, saving input time. Online, context-sensitive help Context-sensitive help is a kind of online help that is obtained from a specific point in the state of the software, providing help for the situation that is associated with that state. can be used to solve any problems encountered. The program also comes with a guide to walk users through a typical return. Support from CSI's staff (made up mostly of accountants, like us) is available toll-free during regular business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a . Additional assistance is available through training seminars offered at various locations across the country, as well as 24-hour fax-back help. An online support knowledge-base and e-mail support are found on the Web site. Product updates and information bulletins are also downloadable from the Web site and can be accessed from within the program, as well as available through email subscriptions. As with most high-end tax software, Creative Solutions offers a service it calls UltraTax/Per-Return-Pricing. You receive a license to the entire package and can input data into any module, but you only pay for the returns you print by downloading downloading - download a PRP PrP A prion protein. See Prion. code from the company that is accessible through CSI-Connect (within the program). Firms doing a limited number of fiduciary returns will benefit from this cost-cutting feature. The Client status system tracks your progress on returns, allowing for the tracking of 50 custom events--40 more than last year's version. With dozens of forms and schedules, the integration with other Creative Solutions' software, and Per-Return-Pricing, UltraTax does indeed offer an economical and "creative solution" to 1041 processing. Creative Solutions, Inc. www.creativesolutions.thomson.com 800-968-8900 By Alfred Charles Giovetti, CPA, ABA, ATA "With UltraTax, we keep our clients and our bottom line healthy. UltraTax is user-friendly; it kicks out the information we need without a lot of extra work." --Mike Tribble Yeo and Yeo, PC Saginaw, Michigan Billing Rates can be Established, and Tax Solution Provides a Calendar for Scheduling Appointments Choices include bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most estates, simple or complex trusts, or pooled income funds. Drake Enterprises, Ltd., Franklin, N.C., has developed tax preparation software for 27 years. Drake Software's Tax Program is designed to provide tax preparation professionals with the resources they need to prepare Form 1041 returns. A table of all completed or partially-completed returns is displayed by clicking on the Open icon in the tool bar of Tax Solution's introductory screen. Each file is identified by name and either an Employer Identification Number Applicable to the United States, an Employer Identification Number or EIN (also known as Federal Employer Identification Number or (FEIN)) is the corporate equivalent to a Social Security Number, although it is issued to anyone, including individuals, who has to pay (EIN EIN Employer Identification Number EIN Employee Identification Number EIN European Ideas Network (think tank) EIN Environmental Information Network EIN Equivalent Input Noise EIN Elderhostel Institute Network ) or Social Security number (SSN SSN abbr. Social Security Number ). Work on a new Form 1041 return is initiated from the displayed table. A SSN is entered for a new client, and the user is asked to select the type of return to prepare. After choosing the Fiduciary option, a screen appears requesting information regarding the decedent An individual who has died. The term literally means "one who is dying," but it is commonly used in the law to denote one who has died, particularly someone who has recently passed away. and the type of entity established. Choices include bankruptcy estates, simple or complex trusts, or pooled income funds. Users are also asked to enter the number of Schedule K-1 forms to attach, as well as any state or federal taxes that were paid the previous year on Form 2210. Once that information has been entered, the Data Entry Selection screen serves as the primary work area for compiling com·pile tr.v. com·piled, com·pil·ing, com·piles 1. To gather into a single book. 2. To put together or compose from materials gathered from several sources: a Form 1041 return. Four general categories--General, Assets/Sales, Credits and Other--are listed at the top of that screen. Menus of related topics are displayed by clicking on any one of the category headers. For example, topics in the Assets/Sales category include capital gains or losses capital gains or losses n. particularly when calculating the tax liability of an individual or business, this is the difference between the original cost plus the cost of capital improvements, excluding maintenance, called "basis" and the sales price. , depreciation, investment interest expense and installment sale Installment sale The sale of an asset in exchange for a specified series of payments (the installments). installment sale A sale in which the buyer is scheduled to make a series of payments over a period of time. income. The Credits category, likewise, features a full menu of potential tax credits. Each topic listed serves as a link that opens related worksheets. Once the requested information is entered on that worksheet, it can be transferred automatically to the appropriate form or schedules. Users can import tax data from previous years, as well as from popular programs such as QuickBooks or other applications. Drake Software's Tax Program also meets state filing requirements, with federal return information automatically entered into the appropriate lines for state returns. After entering all required information, the Calculate function determines the proper dollar amounts for various lines within the return. Clicking on the View icon in the Data Entry Selection screen's tool bar enables review/preview copies of all forms and schedules just like they appear on paper. The user can then print copies of that return, as well as submit the return via electronic filing. In addition to its tax preparation capabilities, Tax Solution offers a variety of tools for communicating with clients and managing workloads. For example, files can be stored in PDF (Portable Document Format) The de facto standard for document publishing from Adobe. On the Web, there are countless brochures, data sheets, white papers and technical manuals in the PDF format. format. Ranges of standard and custom report options are available, and users can generate letters, postcards, envelopes and mailing labels. Billing rates can be established, and Tax Solution provides a calendar for scheduling appointments. A tool bar icons provides a direct link to Drake's Web site, where users can obtain updates and other information. An extensive range of tutorial topics, as well as general help information, can be found within the Help pull-down menu Also called a "drop-down menu" or "pop-down menu," the common type of menu used with a graphical user interface (GUI). Clicking a menu title causes the menu items to appear to drop down from that position and be displayed. . Fax and e-mail support are available. Phone support is available Monday through Friday, 8 a.m. to 10 p.m. EST P.M. also p.m. or p.m. abbr. post meridiem Usage Note: By definition, 12 a.m. , and 8 a.m. to 5 p.m. on Saturdays. An additional hour of phone support--until 6 p.m.--is offered on Saturdays from early December to April 15. Professional Tax Solution is a comprehensive application providing tax preparation professionals with all of the functions and tools they need to complete Form 1041 returns. The toolbars and menus minimize the amount of time new users need to familiarize themselves with this application. Drake Enterprises, Ltd. www.drakesoftware.com 800-890-9500 By Richard Buse "Drake Software connects me and my clients to the IRS. I've used it since 1991 and they provide excellent support, one price, and no surprises. If you can't get something to work with a client you simply eMail Drake the problem and they'll get right back to you. They keep the software up-to-date; if you go back and look at an old 1041, you can see how their changes make a vast difference." --Moose Huffman Pioneer Accounting & Taxes Inc. Jacksonville, Florida Long Fiduciary Names Shrunk shrunk v. A past tense and a past participle of shrink. shrunk Verb a past tense and past participle of shrink shrunk, shrunken shrink to Fit the Space Rather than Truncated truncated adjective Shortened Overrides are Shown in Red on the Screen, Making them Easier to Notice, and Correct. Intuit in·tu·it tr.v. in·tu·it·ed, in·tu·it·ing, in·tu·its Usage Problem To know intuitively. [Back-formation from intuition. is among the giants of the tax and accounting software industry. With TurboTax and ProSeries, as well as Quicken A popular financial management program for PCs and Macs from Intuit, Inc., Mountain View, CA (www.intuit.com). It is used to write checks, organize investments and produce a variety of reports for personal finance and small business. and QuickBooks, many consider it to be the company when it comes to computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. accounting. So what makes Intuit products--specifically, ProSeries--so appealing? For one thing, it is easy to learn and use Easy to learn refers to software that is well designed and capable of being used right away without having to wade through documentation. If you make the program work with little effort, it is easy to learn. . The Windows version is available on CDROM See CD-ROM. and loads in minutes. Although the included Business Forms Guide contains only three pages specific to the fiduciary package and no index, you don't really need them; the intuitive interface is self-explanatory. If you get stuck, the online, context-sensitive help, helps answer questions regardless whether it is software- or IRS-related. Additional in-product help is available: Quick Answers, Hot Topics, Line-sensitive Help, Government Instructions and more can be purchased through Intuit's Web site, directly accessed from the program. While the vendor no longer offers a NASBA-certified case study on its CD, some of its Webinars qualify for CPE (Customer Premises Equipment) Communications equipment that resides on the customer's premises. CPE - Customer Premises Equipment . Intuit also offers a wide variety of opportunities for users to learn the software. Through a teleseminar, an Intuit specialist personally walks you through using the software over the phone, at a time convenient for you. Or, if you prefer, online seminars are accessible from the Web site. ProSeries offers users the ever-popular pay-per-return option, handy for firms that prepare a limited number of estates and trusts. The fiduciary module allows for up to 1,000 beneficiaries--enough for most estates and trusts. The fiduciary and beneficiary letters can be customized. Amounts can be easily allocated to beneficiaries in any way desired. ProSeries' unlimited override An arrangement whereby commissions are made by sales managers based upon the sales made by their subordinate sales representatives. A term found in an agreement between a real estate agent and a property owner whereby the agent keeps the right to receive a commission for the sale of capability is a plus. Any data entered in a form and carried to another form can be overridden to fit your parameters. Some, however, may not like the unlimited override because it may contribute to a higher incidence of error. Overrides can compromise audit trails, therefore making errors more difficult to detect. However, overrides are shown in red on the screen, making them easier to notice, and correct, if necessary. Enhanced diagnostics (1) Software routines that test hardware components (memory, keyboard, disks, etc.). Diagnostics are often stored in ROM chips and activated on startup. (2) Error messages in a programmer's source code that refer to statements or syntax that the compiler or assembler help identify data errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. . With the latest version, state diagnostic checks are enhanced to keep better track of errors in the state return (or omitted items), matching the diagnostics in the federal module. A Final Review provides a listing of all overrides that preparers can print along with a copy of the return. QuickEntry is not available in the 1041 package. However, a handy feature that is included is "shrink-the-font-to-fit-the-line." I don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. what Intuit calls it, but that's what it does. Suppose, for example, your fiduciary name and title that go on the same line, are longer than the visible field. ProSeries "wraps" it, and then shrinks the font font or typeface or type family Assortment or set of type (alphanumeric characters used for printing), all of one coherent style. Before the advent of computers, fonts were expressed in cast metal that was used as a template for printing. to fit the space--a really useful feature. Now why don't all programs do that? More federal data is processed automatically to state returns (although only 18 States are offered), saving time on preparation. The program also produces a State tax summary, in addition to a federal summary. Up to five years of tax history can be shown in the tax summaries, rather than the two or three in most programs. ProSeries continues to be a favorite among tax practitioners--not surprising given its easy-to-use interface and flexibility. While the unlimited override capability might cause some to pause, other features make it worth investigating. Intuit www.proseries.com 800-934-1040 By Alfred Charles Giovetti, CPA, ABA, ATA "We've been using Intuit since 1987. It is hard for me to imagine doing what we do today without their aid. The quality of the software is outstanding and their support system is always available to us, particularly during the peak season." --Richard Smith Quality Tax and Financial Services, Inc. Spring Valley, California Lacerte's Tax Program Maintains Intuitive Feel Automated Features Save Time and Greatly Reduce Opportunities for Errors Lacerte Software Corporation of Plano, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S. , has developed tax software for more than 20 years. Its Tax Program, designed to provide the functions and capabilities needed to complete complex Form 1041 returns, reflects this experience. Lacerte is a subsidiary of Intuit, Inc. of Mountain View, Calif. Each one of Tax Program's four screens--Clients. Detail, Forms and Diagnostics--features a menu bar and a comprehensive tool bar. Point-and-click computing makes it easy for users to locate and use Tax Program functions. The Client screen is used for opening existing returns and creating new files. Starting a 1041 return for a new client, if the user is not already in the 1041 program, requires the user to click on the Client menu and then select the Fiduciary option from the Tax Type sub menu. However, once in the 1041 program, a client can be added from the Client menu by selecting Add Client or pressing CTRL See control key. ctrl - control +A. The Tax Program then requests the individual's identification information. Fiduciary information, such as the type of entity, or whether there are multi-state or nonresident non·res·i·dent adj. 1. Not living in a particular place: nonresident students who commute to classes. 2. beneficiaries, is also required. The Detail screen contains other necessary information. Menu selections include Beneficiary/Grantor Information, Payments and Penalties, Income, Deductions, Credits, Taxes, Schedule K-1, State, and Charitable Returns. Each menu selection provides worksheets for compiling needed information. For example, the Payments and Penalties menu offers a worksheet for entering 1041 estimated tax Federal and state tax laws require a quarterly payment of estimated taxes due from corporations, trusts, estates, non-wage employees, and wage employees with income not subject to withholding. payments, while the Beneficiary/Grantor selection allows users to establish distribution percentages and choose from Schedule K-1 distribution options. Information entered for one selection is automatically transferred to appropriate lines in other worksheets. That data also is transferred to the correct lines on the required forms and schedules, including state returns. Tax Program performs all required calculations, and data can be imported from QuickBooks and other applications. The Forms Screen presents the 1041 form, tax schedules and any other required documents. The Diagnostics screen provides alerts for missing information or other possible errors. Currently Lacerte does not have e-filing capabilities for the 1041. The package is priced so that customers either purchase the 1041 product on an unrestricted basis or as a Remote Entry Processing (REP) service where they pay per return. This method allows users with insufficient volumes to rationalize ra·tion·al·ize v. 1. To make rational. 2. To devise self-satisfying but false or inconsistent reasons for one's behavior, especially as an unconscious defense mechanism through which irrational acts or feelings are made to appear purchasing the unlimited package for access to the software. In addition to tax preparation and filing functions, Tax Program provides a variety of organizational and productivity tools. Twenty user defined Any format, layout, structure or language that is developed by the user. status codes can be created to track the progress of tax returns. Current status is displayed on-screen and a client log tracks actions for files over the life of the files. The client view can be sorted to quickly display returns of a specified status, and built-in reporting generates reports by status and by assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. preparer. Client letters, invoices and mailing labels also can be generated. In addition, Tax Program includes an appointment book, calendar and calculator calculator or calculating machine, device for performing numerical computations; it may be mechanical, electromechanical, or electronic. The electronic computer is also a calculator but performs other functions as well. to schedule and complete activities. The Help menu provides a diverse range of informational topics, including FAQs FAQs Online A list on a website that answers basic–Frequently Asked Questions–that might be asked by a first-time visitor to the site , and also provides a link to the Lacerte Web site for updates and other current information. Seminars, Webinars and self-study tutorials also are available, and users can earn CPE credits for Lacerte educational offerings. Lacerte allows support e-mail to be initiated by its users and sent directly to Lacerte's e-mail support team. An e-mail management screen within the program logs the e-mail activity between Lacerte and its users. Tax Program provides users with all of the schedules, forms and worksheets needed to complete 1041 returns. Automated features save time and greatly reduce the opportunity for errors. The software maintains an intuitive feel that makes the application easy to learn and easy to use. The menu selections and tool bar functions enable new users to perform functions without having to frequently consult manuals or online help resources. With its support e-mail management functions and links to Lacerte's Web site where a multitude of support--such as FAQs, support bulletins, links to various governmental agencies, the Tax Program capitalizes on the speed and convenience associated with Internet access See how to access the Internet. . This application delivers terrific value. Lacerte Software Corporation www.lacertesoftware.com 800-765-7777 By Richard Buse "We use Lacerte for everything so it makes it easy to integrate the 1041 return into the 1040. We find it very easy use." --Jeff Butler Kessler Orlean Silver & Company, PC Deerfield, Illinois Data Entry is Forms-Based, Making it Easy to see the Finished Product as Information is Entered Diagnostics specifically warn of electronic filing issues, and allow a direct link to problem areas TaxWise has been in the software business since 1985, making it another one of the senior tax software companies. More than 45,000 tax professionals use TaxWise Individual and Professional, a number that calls for a closer look at this popular program. As you might suspect, since it has been around a while, TaxWise started out as a DOS application. While the Windows version was introduced in 1997, the package still allows users access to most, if not all, of the original DOS keystrokes, speeding up data entry. The TaxWise CD-ROM installs quickly and easily into your Windows environment (1) (upper case "W") Refers to computers running under a Microsoft Windows operating system. (2) (lower case "w") Also called a "windowing environment," it refers to any software that provides multiple windows on screen such as Windows, Mac, Motif and X Window. . New users also may install the prior year program in addition to installing the current year program. Other installation options include Internet Explorer Microsoft's Web browser, which comes with Windows starting with Windows 98. Commonly called "IE," versions for Mac and Unix are also available. Internet Explorer is the most widely used Web browser on the market. It has also been the browser engine in AOL's Internet access software. 6.x and Adobe adobe (ədō`bē): see rammed earth. adobe Handmade sun-dried bricks formed from a mixture of heavy clay and straw found in arid regions. Acrobat 6.0. Information is included concerning PC Software's client write-up Write-Up An increase made to the book value of an asset because it is undervalued compared to market values. Notes: A write-up will increase a company's accounting book value without any expenditures. system that integrates with all TaxWise products. TaxWise requires a system running Windows 2000/2003 or XP Professional, but I had no problem installing it on my Windows Me (Windows Millennium Edition) An upgrade to Windows 98 introduced in 2000. Windows ME added more support for digital cameras, multi-player Internet games and home networking. system. Once the installation completes, the program asks if you want to run it. Selecting "yes" displays the setup See BIOS setup and install program. options screen where you can enter company information, set up the printer, enter e-file information and select your own color settings for page backgrounds, labels and headings. Virtually all forms and schedules necessary to complete a fiduciary return are supported in TaxWise, as well as all states. Data entry is forms-based, making it easy to see the finished product as information is entered. As forms are added to the return, they appear in a tree format in the left-hand section of the screen. If the default settings for the colors are not changed, red fields indicate required information. Red fields not used for a return (e.g., state of residence) are deactivated by pressing the F3 key on the field, at which time the field's color changes to blue. Data can be entered directly into any green field, as these are non-calculating fields. Calculated entries are shown in yellow. The F9 key is used to access supporting forms for these entries. TaxWise is a strong promoter A person who devises a plan for a business venture; one who takes the preliminary steps necessary for the formation of a corporation. Promoters are the people, who, for themselves or on behalf of others, organize a corporation. of the IRS's e-file program, as evidenced by the fact that diagnostics and error-checking in the program are geared toward readying a return for e-filing. Diagnostics specifically warn of electronic filing issues, and allow a direct link to problem areas. The instructions refer to "getting the red out" in preparation for e-filing. TaxWise's web site offers a wide variety of information and training options for the software, as well as e-filing. The software itself also includes its own online training guide. Simply click the Help drop-down menu See pull-down menu. drop-down menu - pull-down menu , and select TaxWise Training. A standard Windows help Microsoft WinHelp is a proprietary format for online help files that can be displayed by the Microsoft Help browser winhelp.exe or winhlp32.exe. The file format is based on Rich Text Format (RTF). It remained a popular Help platform from Windows 3. tree appears allowing you to view (and print) the instructions for preparing any type of return. The instructions include sample client information for completion. There's even a short multiple choice quiz A quiz is a form of game or mind sport in which the players (as individuals or in teams) attempt to answer questions correctly. Quizzes are also brief assessments used in education and similar fields to measure growth in knowledge, abilities, and/or skills. at the end to see how well you learned the topic (it does not currently qualify for CPE credit although the vendor says "it is scheduled for 2005"). Standard program help can also be accessed by pressing the F1 key. TaxWise also incorporates the Pay-per-Return option that is popular with tax software vendors and users. A menu item in the utility program orders individual software by Internet or modem as you need it, and another menu item in the main program allows the retrieval of software from TaxWise and its installation on your system. This feature saves the expense of the full-blown package for only a few fiduciary returns. After review, it looks as if this program's users really know something. TaxWise is a colorful, easy-to-use package with lots of features to help complete any fiduciary return. It excels in the area of electronic filing. TaxWise www.taxwise.com 800-755-9473 By Alfred Charles Giovetti, CPA, ABA, ATA "TaxWise Business is easy to use. I've tried 3 or 4 other company's software and TaxWise was definitely the most user-friendly." --Luann Wagnon Luann M. Wagnon Richardson, Texas A Fixed Asset Manager Integrates with all tax TaxWorks Modules TaxWorks offers "Per Unit Processing Unit processing is the basic processing in chemical engineering. Together with unit operations it forms the main principle of the varied chemical industries. Each genre of unit processing follows the same chemical law much as each genre of unit operations follows the same physical ," an option to purchase the full program at a reduced price and pay a low fee for each return processed. TaxWorks is produced by Laser Systems, a company that began producing computer applications more than 30 years ago. It is a privately owned company based in Kaysville, Utah Kaysville is a city in Davis County, Utah, USA. The Kaysville area was originally settled by Hector Haight shortly after Mormon pioneers arrived in 1847. He had been sent north to find feed for the stock and soon thereafter constructed a cabin and brought his family to settle the . Upgrades to the software are made based on suggestions from whom the company feels are the best authorities on how well the product performs: its users. The company is also an accountant's dream--all growth is financed by revenue, and the company has no debt or outside investors. That alone could be enough for some accountants to support this company! New features for 2004 include support for District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , six new state forms, increased printer compatibility, two dimensional bar codes to forms K-1, and Maryland Maryland (mâr`ələnd), one of the Middle Atlantic states of the United States. It is bounded by Delaware and the Atlantic Ocean (E), the District of Columbia (S), Virginia and West Virginia (S, W), and Pennsylvania (N). returns that allow the government to scan information. There were also some other minor improvements. Unfortunately, TaxWorks still cannot file the 1041 electronically. TaxWorks comes on a CD-ROM, and the program loads minimally if you want to save hard drive space by running from the CD-ROM. The program requires installing at least one federal module on the hard drive. However, you may want to install the entire program to achieve performance benefits. The program runs slower from the CD. The software also can be upgraded via the Web from within the program. A 227-page, spiral-bound, indexed reference manual is included with the package, with information on installing and running the program. A tutorial shows the basic operation of the program using a 1040 and 1065 (but not 1041) return as an example. TaxWorks allows data entry through one of two interactive methods--interview or data sheet. In the interview method, data is entered on facsimiles of the tax forms on the computer screen. The data sheet method lets you record your clients' information, and then hands the data sheets to the office data entry personnel, freeing you up for other tasks. A diagnostic report is accessible at any point during the input process and allows any potential problems to be fixed as they come about. TaxWorks includes several features found in every professional package. A Fixed Asset Manager program fully integrates with all tax modules. Regular and AMT See vPro. depreciation are computed using up to 23 methods for any kind of property. All calculations are carried to the appropriate forms automatically, and are made on-screen, so that they can be reviewed prior to processing. Other features include a tax practice manager, laser forms, electronic filing (but not for Form 1041), financial reports, real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. calculations, network compatibility, and a paperless office function. The company does everything it can to make TaxWorks easy to use. Prior to tax season, the company offers training seminars to bring users up to date on the current software, and to get comments and suggestions. Technical support is free, and is available through multiple phone and fax lines, 24 hours a day. The company's annually updated Web site is also a source for support. TaxWorks is another program that offers "Per Unit Processing," an option to purchase the full program at a reduced price and pay a low fee for each return processed. This is especially useful if your firm only does occasional fiduciary returns. Virtually every form is supported in the TaxWorks program, as well as 42 states, including two for Florida (tangible and intangible). Multiple states can be prepared for a single client, if necessary. TaxWorks sports impressive support for up to 10,000 K-1 forms. TaxWorks is another serviceable ser·vice·a·ble adj. 1. Ready for service; usable: serviceable equipment. 2. Able to give long service; durable: a heavy, serviceable fabric. program that gets the job done without a lot of bells and whistles A slang English term for exceptional features in some product. In the computer field, it typically refers to functions in software that may be greatly appreciated by some users, even though they may not be necessary most of the time. . Its easy-to-use, intuitive interface and free support alone make it a package worth investigating further. TaxWorks www.taxworks.com 800-230-2322 By Alfred Charles Giovetti, CPA, ABA, ATA
"It is a quality product with reasonable pricing. They include all the
bells and whistles in the base price. We've been using them for 20
years. We have looked at other products, but we didn't feel that their
features added that much and their pricing was always higher."
--George Graff
Hafen Buckner Everett & Graff, PC
St. George, Utah
1041 Comparison Chart
CCH Tax and
Vendor name: ATX Accounting
Product name: Saber 1041 ProSystem fx Tax
Vendor/Product web site: www.atxinc.com www.tax.cchgroup.com
Phone number: 877-728-9776 800-739-9998
1041 Tax Software Checklist
I. Program Features
Web based No Yes
Number of regularly scheduled 2-3 8
package program updates per
year
Number of concurrent users unlimited
w/network version
Number of users Unlimited
Integrated modules available Yes Yes
(Y/N)
Conversion package available Yes Yes
Cost of conversion package Free Included
Batch processing Yes Yes
Heads-down data entry No Yes
Import data Yes Yes
Customizable reports Yes Yes
Customizable organizers Yes No
Customizable scheduling No Yes
programs
II. Technical Support:
Toll Free Support Number Yes Yes
Regular support hours (CST) 7-9 M-F; 8-4 8-7 M-F
Saturday
Tax Season support hours (CST) 7-11 MF; 8-4 Sat. M-F 8:30-9:30; Sat
9-8; Sun. 10-6
24 hour April 12-15
Number of support staff during 200+ 450+
tax season
III. System Utilities:
User group security Yes Yes
Menu option security Yes Yes
Menu level security Yes Yes
Hard copy user manual included Optional--$25 Yes
Soft copy user manual included Yes Yes
IV. Input Information:
Switch input methods during No Yes
data entry
Skip fields based on prior Yes Yes
input
Maximum dollar value (in 10 13
digits)
Computation information Yes Yes
Calculates form as data is Yes No
entered
Calculates return as data is Yes No
entered
Due-date tracking available Yes Yes
Interview/interactive entry Yes Yes
Batch/input sheet entry Yes Yes
Proforma entry No Yes
V. Output information:
Batch calculation available Yes Yes
Organizers No No
Input sheets No Yes
Are filing instructions Yes Yes
customizable
VI. General Features
Billing by Time Yes Yes
Export to Time and Billing Yes Yes
packages
If so, which ones ProSystem fx
Practice
Operating systems supported Windows (any Windows 98 2nd
version) Edition, NT
Workstation Version
4.0, Millennium,
2000 Professional,
XP Professional,
MDAC version 2.6
Network Features Yes Yes
Price for network support same as regular Included in network
licensing
Supported networks Microsoft Windows
Server 2003, 2000
Server, NT Server
4.0, Novell Netware
5.1 or higher, Linux
(kernel 2.4.2 or
higher Samba 2.2.3a
or higher)
Toll-Free support Yes Yes
VII. Pricing/Availability Information:
Application delivered on disks No No
Application delivered on CD Yes Yes
Application downloaded from Updates available Yes
the web via the web
1041, federal one-user $170-up to 3 users $1,675
Renewal 10% early renewal Call for details
1041, federal five-user $255 for 4+ users $2,275
Renewal 10% early renewal Call for details
State package From $110 $295-$725
State renewal 10% early renewal Call for details
Additional cost to use on add'l 50% $600 Incl. 5
network workstations
Call for add'l rates
Proforma Included Yes
Fixed Assets Included Yes
Client manager Included Yes
Scheduling No Yes
Tickler Included Yes
Date conversion Included Yes
Converts data from competing Yes Yes
products
If yes, which ones Most major Most major
VIII. Printing:
Print server option Yes Yes
Batch print collation Yes Yes
Multiple printer support for Yes Yes
labels, returns and letters
Prints outside documents (i.e. Yes Yes
Word file) in print set
PDF file creation Yes Yes
Print to document management Yes Yes
program
Print to fax Yes Yes
Integrated print to email Yes Yes
IX. Web Features:
Download initial program No No
Frequently asked questions Yes Yes
Package tracking Yes Yes
Online preparation/hosted No Yes
software
Online electronic filing Yes Yes
Online billing review No Yes
Discussion groups Yes No
Online Organizer No No
Vendor name: Creative Solutions Drake Software
Product name: UltraTax Drake Software
Vendor/Product web site: www.Creative www.drake
Solutions. software.com
Thomsom.com
Phone number: 800-968-8900 800-890-9500
1041 Tax Software Checklist
I. Program Features
Web based Yes No
Number of regularly scheduled 6 4
package program updates per
year
Number of concurrent users Unlimited Unlimited
Number of users 9,000 16,658
Integrated modules available Yes Yes
(Y/N)
Conversion package available Yes No
Cost of conversion package Free
Batch processing Yes Yes
Heads-down data entry Yes Yes
Import data Yes Yes
Customizable reports Yes Yes
Customizable organizers 1040 Only No
Customizable scheduling Yes Yes
programs
II. Technical Support:
Toll Free Support Number Yes No
Regular support hours (CST) 8-7 M-F 7-8 (M-F); 7-4 (Sat)
Tax Season support hours (CST) M-F 8-9, Sat 8-5, 7-9 (M-F); 7-5 (Sat)
Sun. 9-5
Number of support staff during 150 209
tax season
III. System Utilities:
User group security Yes No
Menu option security Yes Yes
Menu level security Yes Yes
Hard copy user manual included Yes Yes
Soft copy user manual included Yes Yes
IV. Input Information:
Switch input methods during Yes Yes
data entry
Skip fields based on prior Yes Yes
input
Maximum dollar value (in 10 10
digits)
Computation information Yes Yes
Calculates form as data is Yes No
entered
Calculates return as data is Yes No, Can be accessed
entered
Due-date tracking available Yes Yes
Interview/interactive entry Yes Yes
Batch/input sheet entry Yes Yes
Proforma entry Yes Yes
V. Output information:
Batch calculation available Yes Yes
Organizers 1040 Only Yes
Input sheets Yes Yes
Are filing instructions Yes Yes
customizable
VI. General Features
Billing by Time Yes Yes
Export to Time and Billing Yes No
packages
If so, which ones Creative Solutions
Practice
Operating systems supported Windows 98, 2000, Windows 98 & later &
XP most Windows 95
Network Features Yes NWClient
Price for network support $400 for 1st 4, No additional charge
$100 each add'l 4
Supported networks Novell 5.1 or Novell, P2P
higher, Win 2000,
Citrix MetaFrame
(yr 1.8 or XP)
Toll-Free support Yes No
VII. Pricing/Availability Information:
Application delivered on disks Yes Upon request
Application delivered on CD Yes Yes
Application downloaded from Yes Updates only
the web
1041, federal one-user $1,175 $995-$1395 Full
Package;
$495-$545 Pay Per-
Return
Renewal $875 As Above
1041, federal five-user $1,650 As Above
Renewal $1,350 As Above
State package $200-$400 N/C
State renewal $200-$400 Included
Additional cost to use on $475 for 1st 4 Included
network users
$100 for each
add'l set of 4
users
Proforma Yes Included
Fixed Assets Yes Yes
Client manager Yes Yes
Scheduling Yes Included
Tickler Yes Yes
Data conversion Yes No
Converts data from competing Yes
products
If yes, which ones CCH Profx, Lacerte
VIII. Printing:
Print server option Yes Yes
Batch print collation Yes Yes
Multiple printer support for Yes Yes
labels, returns and letters
Prints outside documents (i.e. No Yes
Word file) in print set
PDF file creation Static copy w/File Yes
Cabinet Solution
DMS
Print to document management No No
program
Print to fax No Yes
Integrated print to email Yes No
IX. Web Features:
Download initial program Yes Special Requests
only
Frequently asked questions Yes Yes
Package tracking Yes Yes
Online preparation/hosted Yes Yes
software
Online electronic filing Yes Yes
Online billing review Yes No
Discussion groups Yes Yes
Online Organizer Yes No
Vendor name: Intuit Laser Systems
Product name: Lacerte TaxWorks
Vendor/Product web site: www.lacerte www.taxworks.com
software.com
Phone number: 800-765-7777 800-230-2322
1041 Tax Software Checklist
I. Program Features
Web based No No
Number of regularly scheduled 5 7
package program updates per
year
Number of concurrent users Unlimited N/A
Number of users 3,941 N/A
Integrated modules available No Yes
(Y/N)
Conversion package available Yes Yes
Cost of conversion package Free Free
Batch processing Yes Yes
Heads-down data entry Yes Yes
Import data Yes Yes
Customizable reports Yes Yes
Customizable organizers No No
Customizable scheduling Yes Yes
programs
II. Technical Support:
Toll Free Support Number Yes Yes
Regular support hours (CST) 8-7 M-F 9-6 M-F
Tax Season support hours (CST) 8-8 M-F; 9-4 Sat; 8-9, M-F; 8-3 Sat.
12-5 Sun.
Number of support staff during 60+
tax season
III. System Utilities:
User group security Yes
Menu option security Yes No
Menu level security Yes No
Hard copy user manual included No Yes
Soft copy user manual included Yes No
IV. Input Information:
Switch input methods during Yes Yes
data entry
Skip fields based on prior No Yes
input
Maximum dollar value (in 10 Yes
digits)
Computation information Real-time Summary
Calculator
Calculates form as data is In multi-view mode
entered
Calculates return as data is In multi-view mode Yes
entered
Due-date tracking available Yes Yes
Interview/interactive entry Yes Yes
Batch/input sheet entry Yes Yes
Proforma entry Yes
V. Output information:
Batch calculation available Yes Yes
Organizers No No
Input sheets Yes Yes
Are filing instructions No Yes
customizable
VI. General Features
Billing by Time No No
Export to Time and Billing No No
packages
If so, which ones
Operating systems supported Windows 98 or Windows 2000 & XP
newer.
Network Features Yes Yes
Price for network support $400 for 1st 4, No
$150 each add'l 4
Supported networks Microsoft and Windows
Novell. Citrix can
be utilized.
Toll-Free support Yes Yes
VII. Pricing/Availability Information:
Application delivered on disks No No
Application delivered on CD Yes Yes
Application downloaded from Yes No
the web
1041, federal one-user $1,035 $495
Renewal $879.75 $420
1041, federal five-user As Above Same
Renewal As Above Same
State package 1-$315.00; 2-$260; Included
3-$235
State renewal 1-$267.75; 2-$221; Included
3-$199.75
Additional cost to use on $400 for 4 users. N/C
network $150 per
additional 4
users.
Proforma Yes Yes
Fixed Assets Yes Yes
Client manager Yes Yes
Scheduling Yes Yes
Tickler No No
Data conversion Yes Yes
Converts data from competing Yes Yes
products
If yes, which ones Lacerte, ProSeries,
ExacTax
VIII. Printing:
Print server option Yes No
Batch print collation Yes Yes
Multiple printer support for No Yes
labels, returns and letters
Prints outside documents (i.e. No No
Word file) in print set
PDF file creation Yes Yes
Print to document management Yes Yes
program
Print to fax Yes No
Integrated print to email No Yes
IX. Web Features:
Download initial program Yes No
Frequently asked questions Yes Yes
Package tracking Yes No
Online preparation/hosted No No
software
Online electronic filing No Will add for next
year
Online billing review Yes No
Discussion groups Yes No
Online Organizer No No
Vendor name: Intuit TaxWise
Product name: Pro Series TaxWise
Vendor/Product web site: www.proseries.com www.taxwise.com
Phone number: 800-934-1040 800-755-9473
1041 Tax Software Checklist
I. Program Features
Web based No No
Number of regularly scheduled 3 4
package program updates per
year
Number of concurrent users 90% renewal
Number of users 50,000+- 21,131
Integrated modules available Yes Yes
(Y/N)
Conversion package available Yes Yes
Cost of conversion package Free of charge Free
Batch processing Yes No
Heads-down data entry Yes Yes
Import data Yes No
Customizable reports No Yes
Customizable organizers No Internal to the
software
Customizable scheduling Yes Internal to the
programs software
II. Technical Support:
Toll Free Support Number Yes Yes
Regular support hours (CST) M-Th 9-8; Fri. 9-6 7:30-5 M-F
Tax Season support hours (CST) M-Thu. 9-9, Fri M-F: 7:30-11; Sat:
9-8, Sat. 10-5 8:45-5
Number of support staff during 200+
tax season
III. System Utilities:
User group security No Yes
Menu option security No Yes
Menu level security No Yes
Hard copy user manual included No Yes
Soft copy user manual included Yes With CD
IV. Input Information:
Switch input methods during Yes No
data entry
Skip fields based on prior Yes No
input
Maximum dollar value (in 9 10
digits)
Computation information Cross References Yes
Calculates form as data is Yes Yes
entered
Calculates return as data is Yes Yes
entered
Due-date tracking available no Yes
Interview/interactive entry No Interactive but no
Interview.
Batch/input sheet entry Yes No
Proforma entry Yes Yes
V. Output information:
Batch calculation available No No
Organizers Yes No
Input sheets Yes No
Are filing instructions Yes Yes
customizable
VI. General Features
Billing by Time Yes Yes
Export to Time and Billing No No
packages
If so, which ones
Operating systems supported Windows NT, 98,
ME, 2000, XP
Network Features Yes
Price for network support $399 Network ready, N/C
for networking
Supported networks Windows
Toll-Free support Yes Available in
November
VII. Pricing/Availability Information:
Application delivered on disks No No
Application delivered on CD Yes Yes
Application downloaded from Yes No
the web
1041, federal one-user One user--$449 $295-1 module;
Unlimited; $25 $695--Fed. Business
per Return & Specialty
Renewal Same As Above
1041, federal five-user Same As Above
Renewal As Above
State package $249-$349; 1-5-$295; $695--all
Unlimited; $13/
Return
State renewal Same 1-5-$295; $695--all
Additional cost to use on N/C N/C
network
Proforma Yes Yes
Fixed Assets Yes Yes
Client manager Yes Yes
Scheduling Yes Yes
Tickler Yes
Data conversion Yes Yes
Converts data from competing Yes Yes
products
If yes, which ones Lacerte and Pro Most major
Systems fx
VIII. Printing:
Print server option Yes Yes
Batch print collation No Yes
Multiple printer support for Yes Yes
labels, returns and letters
Prints outside documents (i.e. No No
Word file) in print set
PDF file creation Yes 3rd party product
Print to document management No 3rd party product
program
Print to fax No Yes
Integrated print to email No No
IX. Web Features:
Download initial program Yes No
Frequently asked questions Yes Yes
Package tracking No Yes
Online preparation/hosted No No
software
Online electronic filing No Yes
Online billing review No Yes
Discussion groups Yes No
Online Organizer No No
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