In this issue:
- Economic Stimulus Rebate Worksheet added to TaxTools
- Exporting PDF files from CFS Programs
- Free Demo Available for LivePayroll
- Release Dates for Schedule D and Financial Planning Tools
Economic Stimulus Rebate Worksheet added to TaxTools
As you know, the IRS will soon be issuing rebates as part of the Economic Stimulus Act. Based on 2007 returns, a rebate of up to $600 will go to single filers with AGI of $75,000 or less ($1,200 for married filing joint with AGI of $150,000 or less). In addition, parents will receive a $300 rebate per child. Tax filers who do not owe income taxes but have at least $3,000 in qualifying income will also receive a $300 rebate. The rebates will be phased out by 5% of income in excess of the threshold amounts.
For tax years beginning in 2008, the Act also increases the $128,000 Section 179 expensing limit to $250,000 and boosts the overall investment limit from $510,000 to $800,000. In addition, the Act generally permits a bonus first-year depreciation deduction of 50% of the adjusted basis of qualified property acquired and placed in service after December 31, 2007, and before January 1, 2009.
We have created an Economic Stimulus Rebate Worksheet for TaxTools 2008 to help you calculate the rebate for your clients. We have also updated our MACRS style="width: 100%; max-width: 590px;" to comply with the depreciation provisions of the Act. If you are a TaxTools 2008 user, either install the update using the "Update from the Web" option in TaxTools or download the update here.
Exporting PDF files from CFS Programs
CFS programs support the export of files in PDF format using the PDF995 printer driver. Once the driver has been installed, users can print to a PDF file from a program by selecting the driver in the printer dialog box at the beginning of a print job. The file can then be saved to the client's folder, the user's My Documents folder, or another specified directory. The user may also take advantage of the following options when printing to the PDF995 driver:
- View PDF (launch default PDF viewer)-displays the PDF file in the computer's default viewer (usually Adobe Acrobat Reader or Adobe Acrobat).
- Create E-mail to Client with PDF attachment-creates an e-mail to the current client with the PDF file as an attachment (if there is an email address for the client in the client database and the user has a MAPI compliant e-mail program, such as Outlook or Outlook Express).
- Add Stamp to PDF-creates a diagonal gray stamp (watermark) with user-specified text across all pages of the PDF file.
The PDF995 driver is not installed automatically. It is included free of charge on the CFS Software multi-program CD in the "PDFsupport" folder. It can also be downloaded here. Additional information regarding features of the driver and instructions for installing it can be found here.
Free Demo Available for LivePayroll
If you would like to try out our newest program, CFS LivePayroll, a free demo version is available for download:
- Go to our demo download page.
- Read the instructions for download and installation.
- Click on the link for "Payroll System (941/940, LivePayroll)."
- When prompted for a license code during installation, enter the word DEMO.
- When prompted whether to run the demo in LIVE or AFTER-THE-FACT mode, select LIVE.
If you have 941/940 Payroll System 2008 installed on your computer, the demo version of LivePayroll is already installed. To access it:
- In 941/940 Payroll System, select "Firm Information" from the File menu.
- Enter the word DEMO in the License Code field.
- Select LIVE to run the demo in LivePayroll mode.
- To return to after-the-fact mode, return to the Firm Information screen and re-enter your original license code.
Free demos for most CFS programs are available for download at our demo download page. With most demos, printing will be disabled or the forms printed will be unfileable. Demo versions of some programs expire after a period of use-generally 30 days. If you are interested in a CFS program, try the demo version. If you decide to purchase it, we will issue you a new license code to give you full access to the program.
Release Dates for Schedule D and Financial Planning Tools
Schedule D Tools and Financial Planning Tools sometimes cause confusion with customers because, unlike most of our other programs, they are not released at the beginning of the calendar year. Schedule D Tools is generally released the first week of May, while Financial Planning Tools is released in mid-March. Also, both of these programs are licensed for one year and will expire unless they are renewed. It is important to keep these facts in mind when ordering, so that you order the version of the program that you need.
Remember:
Schedule D Tools 2008 will be released in May 2008. It will allow you to enter transactions through June 30th of 2009 and generate reports for 2008 and previous tax years. A Realized Gains Report can be printed for the first six months of 2009.
Financial Planning Tools 2008 will be released in March 2008. Unless renewed, the program will cease to function after May 31, 2009.
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