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Old 07-18-2006, 03:51 AM
Dick Watson
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Default Re: Tax Estimator

It's late and I'm exhausted, so I haven't read you posting completely/well;
if this answer is way off in left field, I apologize in advance. I think I
can address what you are wondering about.

Tax Estimator takes the total amount of the transactions on the Before Taxes
tab on each paycheck and subtracts it from the amount/category in the FIRST
line of the Wages tab. It does this to attempt to arrive at W-2 gross from
gross.

This is a known characteristic. There isn't a workaround--indeed, it does
this to get at the correct estimate. I'd greatly prefer if it did this in a
way that was much more transparent and much less obtuse, but there it is.

The first time I stumbled on this it took me quite some time to figure out
what they were doing.

"Jim" <Jim[at]discussions.microsoft.com> wrote in message
news:99235B3B-8D25-40A4-86A0-168D8786B11C[at]microsoft.com...
- quote -

> I use Microsoft Money 2004 and have a question about how Tax Estimator
> calculates 'Wages, salaries, and tip income.' When I click on the tax line
> item, the sofware directs me to 'Your salary.' In 'Your salary', there is
> a
> category/sub-catogory called 'Wages & Salary : Base Salary', here it list
> my
> paycheck for the selected tax year.
> Here's where the question comes in, why does the amount displayed here not
> match the amount for the same paycheck entry in the 'Wages & Salary : Base
> Salary' register? When I go into the paycheck details, it appears the
> amount
> shown in tax estimator is equal to what is in Wages & Salary : Base Salary
> only line item of the wages tab [there are 3 other entries in this tab]
> minus
> the entire amout [4 separate items] in the deductions before taxes tab.
> The other entries in the wages tab are other income: with different
> sub-categories.
> Because of this, the amount shown for salary is incorrect. Is this a known
> issue? Is there a work around? I've tried to change the other income to
> wages
> & salary with the same category ... it didn't have any effect.



  #-1  
Old 07-18-2006, 12:14 AM
Jim
Guest
 
Posts: n/a
Default Tax Estimator

Hi,

I use Microsoft Money 2004 and have a question about how Tax Estimator
calculates 'Wages, salaries, and tip income.' When I click on the tax line
item, the sofware directs me to 'Your salary.' In 'Your salary', there is a
category/sub-catogory called 'Wages & Salary : Base Salary', here it list my
paycheck for the selected tax year.

Here's where the question comes in, why does the amount displayed here not
match the amount for the same paycheck entry in the 'Wages & Salary : Base
Salary' register? When I go into the paycheck details, it appears the amount
shown in tax estimator is equal to what is in Wages & Salary : Base Salary
only line item of the wages tab [there are 3 other entries in this tab] minus
the entire amout [4 separate items] in the deductions before taxes tab.

The other entries in the wages tab are other income: with different
sub-categories.

Because of this, the amount shown for salary is incorrect. Is this a known
issue? Is there a work around? I've tried to change the other income to wages
& salary with the same category ... it didn't have any effect.

Thank you.
 

Tags
estimator, tax
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