Attaching a Client to a Tax and Cash Flow Form

Notice that John and Mary Demo are still the selected clients on the Status Bar at the bottom of the window. This means you can enter new client data, such as names and addresses, without switching from the currently loaded client.

Here is how to switch from the Demos to the Gatfields.

From the Main Menu, either click on Client | View All Clients, or press Ctrl+A, or click on the Clients button in the Toolbar.

Select the Ziegfield family by highlighting them and clicking on Select and Close. Or just double-click on the Ziegfields.

Next, click on the EditClient button in the Toolbar.

Click on the beside Baseline Tax/Cash Form in the lower left-hand corner of the window.

Select the Ziegfield’s tax and cash flow form.

Next, click on the beside the Proposed Tax/Cash Form and select the same form. You can have different Tax and Cash Flow Forms for the present (base-line) and proposed (what-if) scenarios, or you can use the same one.

When Might you Want to Have Different Tax and Cash Flow Forms?

For example, suppose a young couple has come to you to ask if the wife should go to work. If she does, then they will have increased taxes, increased earned income, and increased expenses because they will have to hire child care. You can quickly model this proposed change, save it as a proposed (or what-if) Tax and Cash Flow Form and run the comparison reports. It is possible that they might be worse off financially. Or, they might be better off. You can help them determine which action they should take.

Now click on Save and Close to return to the Main Menu.