Money 99: How Money Calculates Tax Worksheet Values
  
PSS ID Number: Q200937
Article last modified on 02-03-1999
 
WINDOWS:
 
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The information in this article applies to:
 
 - Microsoft Money 99 
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SUMMARY
=======
 
This article describes the functionality of the Tax Worksheet in Microsoft Money
99 Financial Suite. You can use the Tax Worksheet to estimate the amount of
taxes you may owe, based on your withholding status and other information in
your Money file.
 
To view the Tax Worksheet, click Decisions on the Money navigation bar, click
Tools in the left pane, and then click Tax Worksheet.
 
MORE INFORMATION
================
 
Money assigns categories for transactions to one or more category groups. Money
analyzes the transactions in certain category groups to project your income and
deductible expenses for the year and to calculate the values for most of the
fields in the Tax Worksheet.
 
Because the Tax Worksheet is a planning tool, it uses the transactions you
already recorded in your account registers to project the estimated value for
each category group at the end of the year. To do this, Money uses the following
methods:
 
 - If at least one future transaction in the Bill Calendar is assigned to a
   category in a specific category group, Money calculates the total value of
   all recorded and scheduled transactions in the category group, and then
   enters the sum in the appropriate field for that category group in the Tax
   Worksheet.
 
 - If no future transactions in the Bill Calendar are assigned to a category in
   a specific category group, Money calculates the value of all recorded
   transactions in the category group, divides the total by the number of whole
   months in the year before the current date, multiplies this value by 12, and
   then enters the value in the appropriate field for that category group in the
   Tax Worksheet.
 
The following table lists the category groups Money uses for each field in the
Tax Worksheet:
 
   Tab           Field                              Category Group(s)
   ------------------------------------------------------------------------
 
   Income        Wages & Salary                     Salary Income
 
   Income        Interest & Dividends               Interest & Dividends
 
   Income        Short-Term Gain Or Loss            Short-Term Cap Gains
 
   Income        Mid-Term Gain Or Loss              Mid-Term Cap Gains
 
   Income        Long-Term Gain Or Loss             Long-Term Cap Gains
 
   Income        State Or Local Tax Refund          State/Local Tax Refund
 
   Income        Alimony                            Alimony Received
 
   Income        Unemployment                       Unemployment Income
 
   Income        Other Income                       Other Income
 
   Adjustments   Tax-Deferred Retirement Funds      Not calculated
 
   Adjustments   Self-Employment Tax                Not calculated
 
   Adjustments   Self-Employment Health Insurance   Not calculated
 
   Adjustments   Alimony Paid                       Alimony Payments
 
   Adjustments   Unreimbursed Moving Expenses       Not calculated
 
   Adjustments   Other Adjustments                  Not calculated
 
   Deductions    Medical & Dental                   Medical/Dental Expenses
 
   Deductions    Real Estate & Other Taxes          Real Estate Taxes
                                                    State Tax Payments
                                                    Other Tax Payments
 
   Deductions    Deductible Investment Interest     Deductible Interest
 
   Deductions    Mortgage Interest                  Mortgage Interest
 
   Deductions    Charity - Cash Contributions       Charitable Donations
 
   Deductions    Charity - Non-Cash                 Not calculated
 
   Deductions    Casualty Theft Or Loss             Not calculated
 
   Deductions    Miscellaneous Deductions           Non-Reimb. Job Exp.
 
   Analysis      Estimated Taxes Withheld           Federal Taxes
 
To review the categories assigned to each category group, follow these steps:
 
1. On the Money navigation bar, click Categories.
 
2. Click View, and then click "Categories, Subcategories, and Their Category
   Groups."
 
3. Note the category group for each category and subcategory.
 
To move a category or subcategory to a different category group, follow these
steps:
 
1. In the category list, double-click the category or subcategory you want to
   move to a different category group.
 
2. In the Category Group box, click the category group you want to use.
 
3. On the Money navigation bar, click Back.
 
4. Repeat steps 1-3 for each category or subcategory you want to move to a
   different category group.
 
Additional query words: w_money 7.0 toy
 
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Keywords          : kbtool mnyguide kbimu 
Version           : WINDOWS:
Platform          : WINDOWS
Issue type        : kbinfo
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Copyright Microsoft Corporation 1999.