J&M Professional Tax Software is built based on the needs of busy tax offices that specialize in providing their clients with fast and accurate tax returns.
Our software's in-depth tax calculations allow you to prepare the most complicated tax returns with confidence and ease. The following is a list of the various automatic tax calculations performed by J&M Professional Tax Software:
Business use of a home for Schedules A, C, E, F, K-1, and Forms 2106/4835
Consolidated sales of assets
Child care credit
Earned income credit
Standard mileage vs. actual expenses
IRA, Keogh, SEP and SIMPLE deductions
Taxable Social Security Benefits
Estimate vouchers and worksheet
Exception for real estate professionals
Vacation home limitations and carryovers
At-risk limitations and carryovers (regular and AMT)
Related party transactions for installment sales and like-kind exchanges
Passive loss limitations and carryovers
City Tax Returns
Comprehensive Depreciation Capabilities
The desktop's built-in depreciation module manages complex calculations and automatically transfers depreciation and asset sales information to the forms. There are ten methods for depreciating assets, including four custom methods. Our software:
Manages asset calculations on dispositions and asset retirement automatically.
Maintains separate Federal and State numbers.
Calculates AMT depreciation automatically.
Associates asset with the appropriate activity.
Captures asset disposal information and automatically transfers it to appropriate lines on Form 1040 4562, 4797, 6252, and 8824.
Displays depreciation calculation.
For professional results, we recommend the following:
Hard Drive Space: 200MB
Operating Systems: Windows XP, Windows Vista, or Windows 7
Check Printing: HP compatible Laser
Printer which supports Printer
Control Language (PCL) 6 or higher