Miscellaneous Quicken 2012 Planning Tools - dummies

Miscellaneous Quicken 2012 Planning Tools

By Stephen L. Nelson

Besides the most popular personal financial planning tools that many use with Quicken 2012, the program provides some other interesting and, for some people, useful tax and financial planning tools.

For example, the Projected Balances and Savings Goals commands also appear on the Planning Tools menu. The Projected Balances command projects bank account balances using withdrawals and deposits that Quicken can guess about because you’ve set up bill or income reminders.

The Savings Goals lets you define and then monitor your progress toward achieving some savings goal (such as down payment money for a car or house).

If you open the Tax Tools menu, you’ll notice Deduction Finder, Itemized Deduction Finder, Capital Gains Estimator, Tax Withholding Estimator, Online Tax Tools, and TurboTax commands. These calculation tools walk you through specific tax accounting and planning projects — and may be helpful to some taxpayers.

At the top of the Planning window, Quicken provides links to two other planning tools, too: Debt Reduction and Lifetime Planner. Click these links to begin walking through the steps for working your way out from under your debts or planning for personal finances.

For what it’s worth, most people won’t be interested in taking the time to use these planning wizards. But if you’re really serious or worried or compulsive about one of these topics, well, it just may be worth your time to explore a bit.