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Need setup advice for Husband and Wife paychecks and taxes

1st appologies, i"m sure this have been gone over before, didn't see anything in the archives on groups.google.com (ne dejanews) I"d be just as happy if someone could point me to a previous discusion.

I'm now keeping the boooks for My wife and I. We both have paychecks from multiple emplyers. The default Qucken give me a Tax category with subcatagories for fed, state, SS etc.

My goal would be to be able at the end of the year tie out qucken to eac;h of our W2s and to flow into Turbo Tax W2s for each and let Turbo Tax compute as filing both joinly and seperatly so I can see which is best, So

Do I create multiple tax categories 1 for each of you employers with all the sub categroies? or put everything under 1 tax category so I have eg Husband Employer 1 Fed, Husband Employer 2 Fed and etc.

Same thing for Medical Expenses and other tax related stuff.

Or do I use classes in some way? Never used them before but it looks like they are not expenses, a bit vague in the help files.

TIA for any and all input.

jt

Reply to
Yea Right
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I use classes for that. I have a W-2-employer-name, where employer and name are (abbreviations for) the employers we've been with and our names.

-- HASM

Reply to
HASM

QW will handle this automatically using the default categories/subcategories. There are categories for 'Salary' (Self) and 'Salary Spouse'. There are also corresponding tax categories for with-holding for self and spouse. You can examine these categories and take note of the respective 'Tax Line Assignments' for each.

If either or both of you have multiple employers, QW automatically recognizes this also. QW keys on the 'Payee' entry to recognize different employers. Example; you can easily fool QW by adding an extra space or make a simple spelling change in the Payee field for two diffent entries for the same employer - QW will treat this as two different employers.

You can confirm this by running QW's Tax Schedule Report; it will report subtotals for each employer for self and spouse. You will also find corresponding subtotals for FIT, SocSec, Medicare, etc. Each subtotal has a copy number in brackets; e.g., [1], [2], [3], ...... each copy number corresponds to a different employer. You can correlate [copy #] to employer by examining the description column of the report.

Have confirmed this behavior with entries in a test file.

Have not actually confirmed that this info flows to TTax properly; but from the appearance of the Tax Schedule Report and other experience it appears to me that QW/TTax will handle this correctly. Example; QW uses the copy number concept to segregate income/expense sub-totals for multiple rental properties. Sub-totals for each copy number [rental property] flow to a separate section of Schedule E for tax reporting.

Reply to
JM

Thanks for the in put. I was able to get into the categories and see them so i think I can get it set up now OK

Reply to
jt

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