Jump to content
ATX Community

Two Year Comparison Form


Christian

Recommended Posts

I don't routinely include this form in my client copies. I have done so this year for a couple of folks who came to me this year and had them in their former practitioner's copy. I find the one provided by ATX really lacking when compared to the competition. The state comparison is not provided. I suspect ATX tech support has been appraised of this and likely with no result. 

  • Like 1
Link to comment
Share on other sites

Drake does have a good comparison including a state comparison. Therefore beginning with this year I have been giving all of my clients a comparison

and reviewing it in some detail especially since the changes to the 1040 along with the supplemental 1040 schedules are confusing and hard to explain.

 

  • Like 4
Link to comment
Share on other sites

Yes, the Form 1040 changes.  😫  I loved the ATX federal comparison of 2018 to 2017 since I found the 2018 form changes to be about the worst thing ever, and it was far easier for me to flip over to the comparison and explain things when I went over returns with clients.   I printed the Form 1040 comparison for every return, and I thought it was a lifesaver.   Nothing like seeing a figure in the middle of a full sheet of paper with print on half of it and wondering where the heck did that come from??  And what numbers got added together to get that number on the right?  Also, a handful of my folks didn't have enough withholding (thankfully not many), and it helped show them they really got a tax cut; it's the liability that counts.  Really hate the 2018 form changes so much I can't even tell you.

 

  • Like 7
Link to comment
Share on other sites

I provide each client with the summary, the comparison, and the planner.  I find its so important to plan for the next year to ensure the whithholdings are where they need to be (or at least close to where they need to be).  I only provide planning for the next tax year.  I zero out the rest of the columns.  Would be nice if there was a checkbox you could click to do that automatically on the planner. 

This year, I made sure all of my clients received the Federal comparison (wish there was a State) and I highlighted the AGI, Taxable Income, Tax, and Withholding amounts.  More often than not, I'd say at least 75% of the time, the new tax law benefited them.  In may of 2018, I contacted all of my clients to make sure they checked their withholdings.  Some did, some didn't.  Oh well.  

  • Like 5
Link to comment
Share on other sites

I use the comparison for my own review and to present the highlights of the returns to the clients.  Most want only the totals of income, their total tax, any significant changes, and the bottom line balance or refund.  The comparison was particularly useful this year with all of the form changes and saved a lot of time in not searching through the additional six new schedules and all the other forms in their tax packages.

  • Like 6
Link to comment
Share on other sites

  • 2 weeks later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...