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.

In-Depth Calculations

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:

  1. Business use of a home for Schedules A, C, E, F, K-1, and Forms 2106/4835

  2. Consolidated sales of assets

  3. Child care credit

  4. Earned income credit

  5. Standard mileage vs. actual expenses

  6. IRA, Keogh, SEP and SIMPLE deductions

  7. Self-employment tax

  8. Taxable Social Security Benefits

  9. Estimate vouchers and worksheet

  10. Exception for real estate professionals

  11. Vacation home limitations and carryovers

  12. At-risk limitations and carryovers (regular and AMT)

  13. Related party transactions for installment sales and like-kind exchanges

  14. Passive loss limitations and carryovers

  15. All States

  16. 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.

System Requirements

For professional results, we recommend the following:

  • Hard Drive Space: 200MB

  • Memory: 128MB

  • Operating Systems: Windows XP, Windows Vista, or Windows 7

  • Check Printing: HP compatible Laser

  • Printer which supports Printer

  • Control Language (PCL) 6 or higher