For Individual taxes this is how i get it locked down
I wrote down the flow over and over again until it stuck to my head:-
Gross Income
+/- adjustments – I EMBRACED EHF
AGI
Deductions – Itemized A – COMMITT or Std Deductions
Personal Exemptions
Taxable Income
* Tax Rate
Tax Liability
(Credits)
(W/H Tax)
(prepaid tax)
AMT – SIMPLE PIE
Tax Due
Mnemonic
I _EMBRACED EHF
Interest on Student loans (2,500 limit)
Employment Tax 100% – Med Premium 50%
Rent/Royalties/Flow through
Alimony – CANNOT
Contribution to Pension
Early W/drawl
Duty – Jury
Education
Health Savings A.C
Farmers
COMMITT
Charitable contributions
Other Mis
Misc -BIT
Medical 10% or 7.5% if 65 plus
Interest on Mortgage/Equity
Theft/Casualty
Taxes Paid
Do you see where I am going with this ? The more I wrote this down the more it started to stick in my head what goes where and why..
Later this evening I can write it down properly on a sheet of paper and put a link here for anyone that wants to down load it. if that helps?
FAR 05/27/14; 786/110 - Done !