Yesterday I responded to a question on the Financial Planning Magazine online discussion boards about running tax illustrations and comparisons using Excel.
A few years ago I came across Glenn Reeves’ Excel 1040 tool. This is a handy and fairly comprehensive tool based in Excel that does a good job performing many of the common calculations that populate Form 1040. Included are worksheets to enter W-2 income, Form 1099 distributions, Social Security, Schedule B Interest and Dividends… the list goes on and on.
