New Additions to Lacerte Tax Planner
- Completely up to date on recently released 2009 indexed amounts (eg. standard deduction, personal exemption, maximum amount of SE income subject to SE tax, etc.).
- State tax refunds generated by generic states will now be transferred to the subsequent plan year and treated as taxable.
- Planner accounts for the new Roth IRA re-characterization rules for Qualified plans.
- Planner accounts for the increase in standard deduction due to real estate taxes and casualty losses, and automatically optimized between standard and itemized deductions.
- Planner supports the new mid-western and presidential declared disaster loss limitations.
- Planner calculates the new first-time homebuyers credit.
- AMT Exemption has been updated to comply with the law as it stands today, with an override provided to allow you to account for new legislation as soon as it passes.
- EIC and child tax credit can be computed by referencing prior year earn income for those taxpayers affected by the Midwest disasters.
- Input for three new general business credits have been added, with associate taxable income, and passive credit limits applied.
- Planner now calculates the rebate credit.
- Planner accounts for the suspension of charitable limits for Midwest charitable contributions.
- Self-employment tax worksheet now supports Conservation Reserve payments.
- Additional exemption for housing person displaced because of Midwest disasters.
- W-4 worksheet has been updated to allow you accurately adjust your clients withholding based upon 2009 plan year information.
