[ggcsquicksig] Re: Tax Planning Cheat Sheet
- From: "ernie pitz" <guidop6@xxxxxxxxxxx>
- To: <ggcsquicksig@xxxxxxxxxxxxx>
- Date: Sat, 16 Feb 2013 13:19:02 -0800
Yes Babs, thatâs exactly what I wanted and you put it so succinctly.
I will take your info and use it to check out my data for 2012
Gratefully yours,
Ernie
PS â I have missed several Quicken SIG sessions due to
fatigue, colds, coughs, etc.. Not that my 80th BD
anything to do with it??
I look forward to feeling better and coming back into
the fold.
From: bcbloch@xxxxxxxx
Sent: Friday, February 15, 2013 3:12 PM
To: ggcsquicksig@xxxxxxxxxxxxx
Subject: [ggcsquicksig] Re: Tax Planning Cheat Sheet
Ernie...I'm not sure I'm clear about your question, but here's a first go
at it:
I assume you've corrected any uncategorized transactions for the year
2012.
After that, just run a new Category report, selecting only the categories
you need for tax purposes. i.e., income from retirement sources,
including Social Security, dividends, interest, Capital gains or losses,
and IRA distributions, if any, IRA rollovers to a Roth, if any. etc
Then get Expenses that might be deductible, such as medical, charity
donations, property tax, auto license tax, mortgage interest, if any,
etc.
Don't forget to get any quarterly tax estimate payments you may have made
during 2012 AND in January 2013 if you made one, for both CA and Federal
taxes..
Mileage to and from Medical appointments is deductible, but unless you
have Quicken Home and Business, you won't have the mileage feature and
have to calculate that manually.
Or, you can just hand your CPA the 1099's once you make sure you have
received one for every account you have, and just use Quicken data for
deductions and tax payments, etc., which are not on the 1099's
I usually check my 1099's against the Quicken totals for each account
paying interest, dividends, etc., to make sure we're in agreement. It
helps me catch input mistakes and on rare occasions an error in the 1099.
That should give you all the data you need to give your accountant.
Is this what you meant?
On Fri, 15 Feb 2013 12:57:44 -0800 "ernie pitz" <guidop6@xxxxxxxxxxx>
writes:
> Babette,
> I have never known about or used the Report option to check on
> uncategorized or categorized expenses or income.
> So using your ââ¬Ëcheat sheetââ¬â¢ of the 2-14-13, I found a total of
> about 6 cases in 2012 and as per your directions I corrected them!
>
> I use an accountant for my taxes and being a laggard I need another
> cheat sheet to review and correct my data in Quicken 2011 Premier
> for 2012. There were ââ¬Ësheetsââ¬â¢ in the past to guide one like me
> through
> the details. Are there any still any available?
>
> Ernie Pitz
>
> From: bcbloch@xxxxxxxx
> Sent: Monday, February 04, 2013 10:23 PM
> To: ggcsquicksig@xxxxxxxxxxxxx
> Subject: [ggcsquicksig] Re: Tax Planning Cheat Sheet
> Irma, et al:
> I think Irma may not have clicked on the little square box at the
> left of
> the Expense and Income headers...doing so will open the list of
> transactions that make up the total showing for each heading.
>
> Here are the step by step directions for getting this report.
> Writing and
> reading it takes longer than actually doing it, so don't be
> discouraged.
> It's a good thing to do...I just ran it to record the steps and
> found
> some transactions that I'd simply entered wrong by mistake.
>
> 1. Click on REPORTS at the top of the Quicken Register Screen
> 2. A list comes down...Select "Reports & Graphs Center
> 3. At the Center, on the left of the window/screen is a column
> headed
> "Quicken Standard Reports"
> 4. Select the heading "Spending"
> If the list isn't open, click on the black arrow to the left
> of
> the "Spending" Heading to open it.
> Select "Itemized Categories" and click on it
> 5. A screen will come up for the Itemized Categories report.
> Set the date for last year if you're doing it for tax
> season,, or
> for "Include All Dates", if you've never done it before and
> want
> to check the whole data file.
> 6. Click on the CUSTOMIZE button
> 7. On the next screen that comes up, where you can customize as to
> which
> accounts, categories, etc., to be selected, click on the
> Categories tab.
> 8. Click on the "CLEAR ALL" button - this will un check all
> categories
> in the list.
> 9. Click on the box next to "NOT CATEGORIZED" - it's the first
> item on
> the Category list. Selecting it tells Quicken to select only
> transactions that are uncatergorized.
> 10. Click on "Show Report" button
>
> This will bring up the report for the date period chosen ("Last
> Year" or
> "All Dates", or any other period you may choose.)
>
> The report is divided between Income and Expenses and lists any
> transactions under each heading that is uncategorized, with all
> details
> for each..i.e., date, account, description (payee), amount.
>
> If only the headings of Income and Expenses is shown, with a total
> for
> each, click on the little box with a Plus Sign to the left of the
> heading, and it will open the list of transactions. (Every time
> I've run
> this report, it opens with all transactions showing.)
>
> You can click on any transaction and you will be taken to the
> register
> with that transaction highlighted, so you can correct it. After
> making a
> correction, be sure to ENTER the change.
>
> You will find a title of the report at the bottom of the Quicken
> screen;
> click on it to open it again and select another transaction to
> correct.
>
> If anyone has any questions, feel free to ask.
>
> Hope this helps.
>
> Babette
>
> On Mon, 4 Feb 2013 14:09:10 -0800 "Irma" <irmbo@xxxxxxxxxxx> writes:
> > Hi Babette,
> >
> > I'm trying to use the information below that you sent to us on
> January
> 10th. I'm having trouble specifically with item #2. Following those
> directions does not show me which items don't have a category. It
> just
> shows the dollar amount for all income and expenses that weren't
> categorized.
> I can't figure out what I may have overlooked. Is there an
> additional
> piece to your directions?
>
> > From: <bcbloch@xxxxxxxx>
> > To: <ggcsquicksig@xxxxxxxxxxxxx>
> > Sent: Thursday, January 10, 2013 2:25 PM
> > Subject: [ggcsquicksig] Tax Planning Cheat Sheet
>
> > > 2. Run a Category Report ONLY for "Uncategorized". (Customize
> the
> report, set the date for "Last Year", and select "Uncategorized" as
> the
> only category for Quicken to include in the report.
>
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GGCSQUICKSIG is the Email list for members of the Golden Gate Computer
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