Configuring Plan Types
General Information
The exercises in this section are designed to show you how to create a plan by transferring data from the tax program, create a new plan, and open an existing plan. You will also learn how to select the type of plan as well as the number of years and cases for each plan you create.
Limitations
While the Lacerte tax program is designed to calculate and carry amounts to the appropriate forms and/or schedules for filing tax returns, the Tax Planner is merely a tool to use to project future tax liability based on estimated future amounts. For this reason, the Lacerte Tax Planner does not offer detailed depreciation or oil and gas related calculations, and generally, does not have forms or schedules that calculate expenses or adjustments that are reported on other forms or schedules. An example of this is Home Office Expenses.
When exporting a client from Lacerte's Individual tax program to the Tax Planner, the expenses calculated stay with the activity they are associated with, and are present in that activity's worksheet in the Tax Planner. For example, Home Office Expenses would be listed on the Schedule C and Deductions worksheets.