Make changes to your 2018 tax return online for up to 3 years after it has been filed and accepted by the IRS through 10/31/2021. org and Google Sheets. 5 cents for every mile of business travel driven, up 1 cent from the rate for 2017. Do you have health insurance: _____ 2. Individual or Business members can access this and 16 other guides and templates in this toolkit. 765) on your Kentucky income tax return for the year in which the tax year of the partnership ends. Jan 23, 2018. British High Commissioner visits CS Yatani Nairobi, 13th September, 2019. In order to minimize the amount of tax you have to pay and to take advantage of the tax deductions for travel nurses you may qualify for, you need to understand the ins and outs of the various tax write-offs for travel nurses. 0%Under age 50 2018. 505 to figure the tax. Instead, use the worksheets in IRS. You can use various utilities to design and manage portfolios that span multiple accounts. The child tax credit for 2018 is $2,000 for each qualifying dependent under age 17. If you’re filling out the 2019–20 FAFSA form, you’ll need your 2017 tax information. You must complete and submit a FAFSA to apply for federal student aid and for most state and college aid. June 07, 2018 Reply. And Now They Are. According to IRS Notice 2018-61, Treasury and the IRS intend to issue regulations providing clarification of the effect of newly enacted Sec. The tax law that starts in the 2018 tax year eliminates this deduction, which in the past could be claimed even if you didn't itemize your other deductions. Do not complete this worksheet unless you were instructed to do so in the Affordability Worksheet. To be clear, unless I've noted otherwise, the changes made by the tax reform bill go into effect for the 2018 tax year, which means you'll first notice them on your tax return that you file in 2019. 12c Caution:. Topic page for Tax Computation Worksheet. Income Tax Slab for FY 2018-19 [AY 2019-20] For Income Tax Purpose – citizens above age of 60 are considered as Senior Citizens and above age of 80 are considered Very Senior citizens. The calculator was developed in a spreadsheet format so employers may use it for multiple employees. Tax Accounting Services Brochure Template Design. A nonqualified ESPP may be structured like a qualified 423 plan, or it may offer different benefits from a Section 423 plan, but without the preferred tax treatment for employees. Since 1937, our principled research, insightful analysis, and engaged experts have informed smarter tax policy at the federal, state, and global levels. President Donald Trump signed the Republican tax bill into law at the end of December. Open PDF file, 60. Tax calculator creator Glenn Reeves developed Excel spreadsheets to prepare Form 1040 and related schedules back in the mid-1990s. Federal Income Tax Form 1040 (Excel Spreadsheet) Income Tax Calculator Search this site. 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Beginning with the 2018 tax year, individuals are now limited in their ability to deduct certain non-business taxes. 2018 Income Tax Brackets and Federal Tax Due This table provides a faster calculation of a taxpaying household’s effective tax rate, taking into account the taxation that is occurring across (potentially) multiple tax brackets. Projecting your taxable wages will help you fill out the information. Spreadsheets at Dawn: The New Tax Battle Is All About Data President Trump signed a $1. This page may be updated pending future legislation. Prior to the Tax Cuts and Jobs Act, which went into effect January 1, 2018, unreimbursed work-related expenses were generally deductible on an employee’s individual tax return as a miscellaneous itemized deduction (Schedule A) if they exceeded 2% of an individual’s AGI. THINGS TO BRING (or send to us if no appointment) _____ NEW CLIENTS ONLY: Copy of prior year tax return. 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While the federal estate tax continues to apply, a giant exemption amount means that only very wealthy individuals need to be concerned with tax planning for their heirs. It's easy to get smarter about your money when you have a head start. Federal Income Tax Form 1040 (Excel Spreadsheet) Income Tax Calculator Search this site. The personal exemption increased to $4,150, up $100 from 2017. An employee bonus plan or an employee incentive plan, is a way of recognizing and rewarding hard work, and this also provides flexibility to administrate the bonus. I am happy to provide the above Excel spreadsheet to. Before using the annual tax table, it is necessary to annualize the wages subject to withholding. We also offer a calculator for tax year 2018. However, you must make adjustments to your net earnings from self-employment to arrive at the amount of "plan compensation" to use to determine the plan contribution/deduction for. 01 Request for Provostial Pre-Approval for Faculty Extra Compensation. 2018 income tax brackets changed after President Donald Trump signed the Republican tax bill into law at the end of December. It’s not about the number of pages or style of the cover. For formal tax advice, please consult a certified financial planner (CFP) or a certified public accountant (CPA). Example: Married Couple over age 70 and 1/2 wishes to donate $10,000 to charity in 2018 and will be in a 12% marginal tax bracket. 2017 / 2018 Tax Preparation Checklist & Planning Tools | TaxAct. Instead, use the worksheets in IRS. Don't be fooled by the lack of complexity of this web page. The following screenshots are. However, as you consider individual income tax planning matters, your current goals and objectives need to. For most people, that means anxiety and uncertainty. Reeves has produced spreadsheet versions of Form 1040 for the years 1996 through 2017. President Donald Trump signed the Republican tax bill into law at the end of December. Find out whether you're affected and how much of a difference the new tax rules will make. S Corporation Basis Worksheet Because of the prolonged recession we expect to see many businesses report losses from their 2010 operations. Appendix A (Market Study) Appendix B (Design Quality) Appendix C (Tax Credit Compliance Seminars) Appendix D (Targeting Program Documents) Appendix E. 5%, however. Pays for itself (TurboTax Self-Employed): Estimates based on deductible business expenses calculated at the self-employment tax income rate (15. gov with frequently asked questions, as well as new schedules and instructions. Form Availability. Managing Your Money: A Financial “To Do List” for Investors of All Ages September 24, 2018. 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Comparison of 2017-2018 Combined Certified and Disputed New Construction (Excel Spreadsheet) Comparison of 2018 First Preliminary EVR to 2018 Certified EVR (Adobe PDF) Comparison of 2018 First Preliminary EVR to 2018 Certified EVR (Excel Spreadsheet) 2016-2017 Certified Comparisons. Sandra Kramer, Director, West and East Africa at the Treasury Building. For those dying in 2018. Paying the government this amount will waive you from being subject to the underpayment penalty. Individual Tax Return, commonly known as Form 1040. 2018 Tax Computation Worksheet. The National Treasury is responsible for managing South Africa's national government finances. Beginning January 1, 2018, a nonresident alien individual may be a potential current beneficiary of an ESBT. The IRS tax return transcript is often used to validate income and tax filing status for mortgage applications, in the financial aid process, student and small business loan applications, and during. However, if you were assessed the tax but did not pay the bill until 2019, you will not be able to use the expense as a deduction until the following year. The spreadsheet includes both pages of Form 1040, as well as these supplemental schedules: All of the worksheets are. 5% threshold rule past 2018, but as of right now they plan to raise it to 10% for the 2019 tax year. THINGS TO BRING (or send to us if no appointment) _____ NEW CLIENTS ONLY: Copy of prior year tax return. The first step in planning your business venture, clarifying your ideas, aims and objectives is to write a business plan. For those of us who usually drive, seeing the price of gas on any given day can either make us want to take the long way home or wish we had. British High Commissioner visits CS Yatani Nairobi, 13th September, 2019. TAX ORGANIZER - 2018 Tax Year. 01 Request for Provostial Pre-Approval for Faculty Extra Compensation 1001 FR. 2017-2018 Business Tax Deadlines Calendar Taxes , Infographics Many business owners see tax season as stressful, but any entrepreneur—no matter how busy or how complex their business is—can stay on top of their taxes when they plan accordingly and get ahead of their deadlines. 2018 “Second Lowest Cost Silver Plan” Costs. For further information about applying the new IRS employee benefit plan limits for 2018, contact your regular McDermott lawyer. Learn more about individual or business membership options Already an Individual or Business Member? Login here. A married couple in New York, with one child, who file jointly and earn between $20,000 and $40,000 would see their taxes go down in 2018 and their after-tax income will increase by 2. financialindependence) submitted 3 years ago * by clvfan 73% SR Last year I posted my first tax planning spreadsheet in /r/personalfinance and this year I am posting here as I think it would be more useful to the FI community. The Internal Revenue Service (IRS) Low Income Housing Tax Credit is available under Section 42 of the Internal Revenue Code. 2019 tax planning guide Tax brackets for 2019 Married, filing jointly $0-$19,40010. 100-0022 for the full text of the income tax rate change and requirements. The Tax Foundation is the nation's leading independent tax policy nonprofit. On December 22, 2017, the most sweeping tax legislation since the Tax Reform Act of 1986 was signed into law. This material does not constitute tax, legal, or. 1 2018 essential tax and wealth planning guide Individual income tax planning With the potential for tax reform on the horizon, your peripheral view may include glimpses of changes in individual income tax rates or deductions. change is effective for the 2018 tax year. Help center. The new tax plan includes changes in income tax brackets for 2018, which could mean paying less in taxes depending on your income. Tax legislation changes quickly and it’s easy for your clients to fall behind. Free Tax Spreadsheet Templates, Tax Spreadsheet 2018 Spreadshee Income Tax Calculation Spreadsheet 2018 Tax Planning, Tax Deduction Spreadsheet Template Excel Free Tax Spreadsheet Templates, Investment Property Spreadsheet For Tax, Baseball Stats Spreadsheet Natural Buff, Tax Spreadsheet 2018 Spreadshee Income Tax Calculation Spreadsheet 2018 Tax Planning, Microsoft Excel Spreadsheet For. gov means it's official. 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Trump Tax Plan 2018. 2018 TAX ORGANIZER - INDIVIDUAL (1040EZ, 1040A & 1040) Email Address Your Name Spouse Name Address Social Security # Social Security # State Birth date Birth date Home Phone Number Other Contact Number City Zip Code Print this form out and take the necessary time to fill it out. 9 hours ago · Jared’s dad, Charles Kushner, went to jail for tax evasion, illegal campaign donations, and, ahem, “witness tampering,” by which I mean he set his brother-in-law up with a hooker (not, I’m sad to report, of the Pissing Russian variety) and recorded their genital-smushing in order to blackmail him. Employees Pension Plan (u/s 80CCD) Advance Tax Paid Tax Remianing to be Paid G. A housing allowance is a portion of clergy income that may be excluded from income for federal income tax purposes (W-2 "Box 1" wages) under Section 107 of the Internal Revenue Code. Tax Withholding Estimator Feedback. A nonqualified ESPP may be structured like a qualified 423 plan, or it may offer different benefits from a Section 423 plan, but without the preferred tax treatment for employees. Cons of using a business plan template: While there are benefits to using a business plan template, depending on your situation it may not be the best way to complete your. Keep these deductions in mind as you are planning for the coming year. IT-540ESi (2018) Record of Estimated Tax Payments Worksheet for Estimating Your 2018 Louisiana Individual Income Tax Keep for your records. For each $1,000 (or fraction of $1,000) your AGI is over the phaseout limit you lose $50 of your child tax credit. Tax calculator creator Glenn Reeves developed Excel spreadsheets to prepare Form 1040 and related schedules back in the mid-1990s. with the same credit card all year long. Posts related to Tax Form W 2 Worksheet W2 Lesson Plan, Teaching Taxes Within W2 Printable Form. The credit covers the portion of the premium of a health insurance Benchmark Plan which exceeds a percentage of the household’s income. Tax Return Questionnaire - 2018 Tax Year - Page 8 of 18 For Period of Jan 1, 2018 to Dec 31, 2018 Amount Business Mileage Moving Mileage – only members of the Armed Forces on active duty who moved because of a permanent change of station Charitable Mileage Total Mileage Contributions:. the information below is for your use in preparing tax forms for your employees. For most people, that means anxiety and uncertainty. Even the most disorganized, “anti-form” entrepreneur will enjoy the simplicity of these forms and worksheets, all designed to help you successfully start and run your own small business. To open the spreadsheet directly in Google docs (from which it can be downloaded into Excel form, where it works best), use the links below. You must complete and submit a FAFSA to apply for federal student aid and for most state and college aid. More than just a template, our step-by-step interview process makes it easy to create an Estate Size Worksheet and Tax Calculator - Married. This is the amount you expect to enter on Form 540, line 64; or Long Form 540NR, line 74. 505 to figure the tax. Subtract line 11b from line 11a. Free 2018 Business Calendar Template Service. Tax Planning for Individuals Quickfinder Handbook 2018 Tax Planning for Individuals. The IRS announced tax adjustments for inflation for the 2018 tax year. Free tax calculation spreadsheets for UK tax including PAYE, income, NI, corporation tax, dividends and official 2017/2018 rates. Rates are set by fiscal year, effective October 1 each year. As always, we encourage you to contact your Baker Tilly advisor to discuss how these issues impact your tax position. Project Your Taxable Wages Easily with this Free 2018 Income Tax Planning Excel Worksheet. This means businesses can deduct the full cost of equipment from their 2018 taxes, up to $1,000,000, with a "total equipment purchased for the year" threshold of $2,500,000. A profit and loss statement can help you develop sales targets and an appropriate sales price for goods. Thanks to an overhaul of the federal tax code, there are new income tax brackets and rates for 2018. September 2019 Tax Receipt FY 19 Year End Financial Report Presentation to Interim Joint Committee on Appropriations and Revenue – August 20, 2019 – Presented by State Budget Director John E. In 2018, the rules have changed. Print or download one or two or all of them, and see how they can change your life. 0%Under age 50 2018. Your plan should be focused and clear. Qualified Dividends and Capital Gain Tax Worksheet. Budget 2018: How Much Income Tax You Have To Pay In 2018-19 In Budget 2018-19, Finance Minister Arun Jaitley announced a standard deduction of Rs 40,000 in place of exemptions allowed for medical. Find your relevant tax form below and enter the corresponding line number values for each field on the application. c Total 2018 estimated tax. The process can be complicated, so it. For example, if you, the partner, are on a calendar year, and the partnership’s tax year ends January 31, 2018, you must take the items listed on Schedule K-1 (Form 765) into account on your tax return for calendar year 2018. Instead of $8,500 in itemized deductions, he’ll get a $12,000 standard deduction in 2018!”. Please provide birthdates and social security numbers for alltaxpayers and dependents. tags :2016 tax spreadsheet,2017 tax spreadsheet,excel tax spreadsheet,free excel spreadsheet for taxes,free excel tax worksheet,free income and expense worksheet,free tax spreadsheet templates,free tax spreadsheets,income tax excel spreadsheet,spreadsheet tax template,tax deduction spreadsheet template,tax excel spreadsheet template,tax. FAFSA on the Web Worksheet provides a preview of the questions that you may be asked while completing the Free Application for Federal Student Aid (FAFSA ®) online at. Below are the four individual tax rate schedules for 2018: Individual Tax Rate Schedules for 2018. The child tax credit for 2018 is $2,000 for each qualifying dependent under age 17. Early CPP Calculator. necessary to prepare and e-file your taxes. 2018 “Second Lowest Cost Silver Plan” Costs. Your plan should be focused and clear. 25 Qualified Parking $260 Minnesota $32,000 Federal Contracts Minimum Wage $10. #1 best-selling tax software: Based on aggregated sales data for all tax year 2017 TurboTax products. Small Business Gets a 20% Tax Break Effective 2018. Rental property expenses are always difficult to organize and track. Extended tax deadline; Six months have come and gone. Property Tax. Access Rental Tax Credit Application System. Congress voted to keep it at 7. This calculator figures your taxable social security benefits based upon the IRS’s 2018 Form 1040, 2018 Schedule 1, and 2018 Publication 915, Worksheet 1, which was published January 9, 2019 and made no substantive changes to the 2017 worksheet calculations. All the income tax calculations are automated and user input is limited to defining the appropriate tax bracket values and income tax percentages. Household Verification Worksheet; 2018 Parent Tax Non-Filer Form; 2018 Student Tax Non-Filer Form; Instructions for providing 2018 Tax Return Transcript. 2018 Tax Projection Worksheet (uses 2017 data as a starting point), and W-4 Worksheet that is designed to intervene mid-year and uses the projected tax from the 2018 Tax Projection Worksheet. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. 30-page business plan. Contributions to an IRA may be eligible for a tax deduction, up to the annual contribution limit, which is $5,500 for the 2018 tax year or $6,500 if you're 50 or older. HD determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. The Cash Flow Spreadsheet appears to have incorrect capital gains thresholds on Line 43 and Line 49 of Form 6251. The major changes for personal tax returns starting in 2018 are as follows. + read full definition for the first $200 of charitable donations, a 29% federal tax credit for amounts over $200, and; a provincial tax credit. We are a full-service accounting firm serving an array of clients with various financial and accounting needs. This worksheet is designed to make organizing your year-end tax planning a little easier. 2 (12/06). Early Retiree Investment Income Tax Planning For 2018. Health care expenses. 18 cents per mile driven for medical or moving purposes, up 1 cent from the rate for 2017. Is the Purchase of Rental Property Tax Deductible?. HD determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. It incorporates all changes that was made in Budget 2018. Year-end tax planning worksheet Please coordinate with my tax professional. 2018 Income Tax Brackets and Federal Tax Due This table provides a faster calculation of a taxpaying household’s effective tax rate, taking into account the taxation that is occurring across (potentially) multiple tax brackets. It keeps a running total as you go. We'll spare the gory details and just paste our output. Download Tax Planning Guide in PDF for Salaried and Professionals for FY 2018-19 (AY 2019-20) covering all the tax saving options/sections available. You are able to create manual Test Plan Template Excel circumstances that include both equally actions and acceptance test out measures through the use of Ms Test out Director. 84 KB) Open PDF file, 49. The software available on this web site is amongst the most sophisticated and user friendly for planning your taxes. financialindependence) submitted 3 years ago * by clvfan 73% SR Last year I posted my first tax planning spreadsheet in /r/personalfinance and this year I am posting here as I think it would be more useful to the FI community. You have the right to arrange your financial affairs to keep your tax to a minimum - this is often referred to as tax planning, or tax-effective investing. Here is the list of best 2018 business calendar suitable for small businesses. These services can generally be provided via phone based upon last year's tax return and current pay stubs, taxable income and withholding year to date. If you are subject to the Shared Responsibility Payment, the payment is the larger of the flat dollar amount or your excess income amount. 12 Per Diem Rate – High Cost $284 Missouri $13,000. 2018 Tax Planning: QBI (IRC 199a) Deduction Walk-Through Tuesday, 4 September 2018 John (Rusty) Davis, CPA. Affordable, fixed price fee (which is completely tax deductible). 026 (number includes $0. The Tax Cuts and Jobs Act which becomes effective in the 2018 tax year, translates into a potential 20% tax reduction for qualified business profit from pass-through entities such as s-corporations, limited liability companies, partnerships, and sole proprietorships. Federal Low Income Housing Tax Credit. Beginning with tax year 2018, the Tax Law allows you to itemize your deductions for New York State income tax purposes whether or not you itemized your deductions on your federal income tax return. I am now eligible for $2000 child tax credit. Then copy the worksheet range B15:B54 into the worksheet range C15:K54. Please provide birthdates and social security numbers for alltaxpayers and dependents. For 2018, the annual gift tax exclusion is $15,000, up from $14,000 in 2017. TX-17 Form - Quarterly Wage and Unemployment Tax Filing System. ) Self-employment tax NOTE: Effect of pass-through reduction for self-employed income in 2018 is unknown. For those dying in 2018. The IRS has raised the standard tax deduction for individuals and married couples, and made other tax changes for the 2018 tax year. The template design incorporates six default tax brackets, but you can add additional tax brackets if required. Open PDF file, 60. Tax deductions lower your taxes by lowering the income you pay taxes on. Sole proprietors, C or S Corporations, Partnership, and Limited Liability Companies (LLC) all use tax deductions to offset the costs of doing business. To help, we've assembled a list of tax deductions that you can take in 2019 for the 2018 tax year: the return you'll file on April 15th. The determination of whether you are required to file a federal individual income tax return is based on your Federal tax filing status, your gross income, whether you are claimed as a dependent on another individual’s income tax return and whether you received a specific credit or owe a tax liability. _____ EXISTING CLIENTS: Names, birthdates and social security numbers of any new dependents. mil site by inspecting your browser's address (or "location") bar. Before the changes were effective, individuals were permitted to claim the following types of taxes as itemized deductions, even if they were not business related: (1) state, local, and foreign real property taxes; (2) state and local […]. Subtract from the gross earnings (per pay period) any contributions made to -tax deductionpre s such as retirement,. See information above for new edition availability. 2018 Custom Machine and Work Rate Estimates - July 2018 (pdf) 2017 Custom Machine and Work Rate Estimates - November 9, 2016 (pdf) RENT: Land, Building & Machinery Rental Agreements & Contracts. 2018 taxes version: 2018 Case Study Spreadsheet. Credits for child or dependent care expenses and the child tax credit may be claimed using the Personal Allowances Worksheet below. To use Glenn Reeves' tax calculator, head to the Spreadsheet Download page, download the relevant year, and fire it up in Excel. The limit for equity debt used in origination or home improvement is $100,000. Plan Documents Participants & beneficiaries Within 30 days of request Review of Plan Documents (Premium Content) Failure to provide upon request: $147/day; maximum of $1,472 per request. In the case that you are subject to the underpayment penalty, the template provides you the dollar amount you would need to pay to the IRS to bring your paid amount to 90% of your total tax liability. Speaking at a rally in 2018 in Indiana shortly after the release of a preliminary tax reform framework in September, President Trump repeatedly stressed that the "largest tax cut in our country's. Free to try. 2017-2018 Business Tax Deadlines Calendar Taxes , Infographics Many business owners see tax season as stressful, but any entrepreneur—no matter how busy or how complex their business is—can stay on top of their taxes when they plan accordingly and get ahead of their deadlines. 2018 Tax Planning Spreadsheet Overview This sheet can compare 6 scenarios side by side to assist you in planning your taxes. Tax Preparation Checklist [Updated for 2018-2019] Norm Blatner December 27, 2018 Accounting , Tax There's a lot of information to gather and remember at the end of the year for you and your finances. Intelligently devise strategies to help them get ahead of the next few years’ tax filings. ) on your Tax Return, you will have to prepare a Tax Amendment. Retired Houshold Tax Planning For 2018. 01 KB, for 2018 Form M-8379: Nondebtor Spouse Claim and Allocation for Refund Due (PDF 49. 2018 Income Tax Brackets and Federal Tax Due This table provides a faster calculation of a taxpaying household’s effective tax rate, taking into account the taxation that is occurring across (potentially) multiple tax brackets. In 2018, the new Tax Cuts and Jobs Act lowered the deduction for mortgage interest payments on new home purchases. 2018 Tax Planning Spreadsheet Overview. A profit and loss statement can help you develop sales targets and an appropriate sales price for goods. 00 Defined Contribution Plan $52,000. For earlier versions of data sets, see the BYTES of the BIG APPLE archive page. length perspective on the relationship you have to the S Corp will help validate your accountable plan reimbursements and demonstrate that you and your business are separate entities (which helps add to your liability "onion"). Our first plan contains the 8 chapters of a basic. While the federal estate tax continues to apply, a giant exemption amount means that only very wealthy individuals need to be concerned with tax planning for their heirs. A second goal is to show you how to organize your investment data for tax purposes. before tax or $_____ a month. For more information, see our Iowa Tax Reform page. Welcome to the 2019 edition of PwC’s guide to tax and wealth planning. It uses macros to enable you to add and remove student rows, and to quickly change income amounts for different classes. What’s New. Federal Income Tax Return. Subtract from the gross earnings (per pay period) any contributions made to -tax deductionpre s such as retirement,. Tax planning 2018: Confusion under the new tax law can be costly. We will continually refine the calculator as more information becomes available. To achieve the goal of longevity, you need to do a lot of planning and make the right financial decisions. Trumps tax plan eliminates the personal exemptions then the amount on line 3 of the worksheet above would be zero. 2018 Tax Update – Moving Expense Deduction Eliminated. Retirement savers are eligible to contribute $500 more to 401(k)s and IRAs next year. onsider the charitable rollover option C if you are a retiree Retired IRA owners (age 70½ and older) may benefit. Local earned income credit (from Local Earned Income Credit Worksheet in Instruction 19. The Cash Flow Spreadsheet appears to have incorrect capital gains thresholds on Line 43 and Line 49 of Form 6251. Required annual payment based on prior year's tax (see instructions). This spreadsheet will ensure your data is recorded correctly as a result of these changes. 7 Changes in Ministry of Finance Key Economic Forecast Assumptions: 2017 Budget Compared with 2018 Budget Table 3. Estimated Tax worksheets for 2018. Employees Pension Plan (u/s 80CCD) Advance Tax Paid Tax Remianing to be Paid G. In the Keogh, 401(K) and SEP Plan Contribution Worksheet, why doesn't the deduction for self-employment tax in Step 2 match the deduction for self-employment tax reported on Form 1040, Schedule 1, line 27? Answer.