TValue software is an excellent tool to calculate the discount or premium amortization of a bond. The Internal Revenue Service requires you to use the “constant yield method” to amortize bond premiums or discounts, which is the excess or discount of the bond price over face value. You pay the bond price and, if you hold the bond until maturity, you receive the face value. This creates a loss or gain, but you can’t deduct the loss or gain all at once. Instead, you amortize the bond over its remaining lifetime to expense part of the loss or book income each year. The amortized amount reduces or increases the interest income you receive for investing in the bond.
Did you know the Estimated Tax Penalty is actually an interest calculation? You calculate interest from each deposit due date with the net amount due and then you calculate the interest till the tax due date. The IRS uses the Federal interest rates for the calculations but they use a simple interest methodology versus daily compounding of interest.
We all have those personal financing decisions in life whether it is "how much car can I afford", "how much home can I afford", "how much do I need to save for retirement", or "how much do I need to save for my son or daughter’s college". Check out the TCalc financial calculators that are easy, fun, and informative here.
Did you know that File In Time, in addition to being an excellent tax due date tracking system, is also useful to track birthdates, meetings, appointments, license renewals, etc.? You can setup automatic reminders, annually, a month before, a week before, or on the day the date you need to remember so you won’t miss any important dates, even though it isn't a tax due date.
Did you know that File In Time will change the due date color to red on the day, a week, two weeks, three weeks, or up to four weeks to flag you that a task is due. The red color for the due date is a warning sign to let you know the due date is coming up soon. It will just stare you in the face till you take care of it. That is truly a great reminder system.