Home-based business and taxes
Celeste
via web
Hi -
I used to use Money Plus for home and business software and had to
switch to Quicken. I hate it. I am having endless trouble with tax
reports and have spent hours on the phone with tech-support, to no
avail. I can't BELIEVE that other users are not having the same
problems. So, I'm looking for an alternative. Will Moneydance allow
me to categorize tax-related transactions for Schedules A, B, C,
and E and then to run reports?
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2 Posted by John Selden on 09 Jul, 2010 02:48 AM
Tax reports are not built into the software. I run a sole proprietorship, so I have to fill out Schedule C every year. I just created custom Schedule C expense categories, and then created my own tax report from those categories. So the income and expense categories and reports are infinitely customizable and you can create whatever you want. I actually prefer it this way. Even when I used Quicken, I never trusted them to get all the tax reports right, so I ended up building my own anyway.
Support Staff 3 Posted by Angie Rauscher on 09 Jul, 2010 01:28 PM
Celeste,
John is correct, this is the advice I would give you as well. We also have an extension (which is currently in beta) that permits export of .txf files for import into tax preparation programs such as Turbo Tax or H&R Block at Home.
I encourage you to download our free trial version and experiment with the program before you decide if you would like to purchase it. The demo version is fully-functional and allows you to manually enter 100 transactions. Imported transactions are not limited. If you decide to purchase the program at a later date you can keep all your data, the license key simply unlocks the ability to manually enter more transactions.
For more information on how to get the most out of your trial period, check out our blog post on the subject.
Please let me know if I can be of further assistance, and thank you for your interest in Moneydance!
Angie Rauscher
Moneydance Support
Angie Rauscher closed this discussion on 24 Jul, 2011 07:59 PM.