Using Remaining expenses and Expense adjustments in Intuit Tax Advisor

What are Remaining expenses?

In Intuit Tax Advisor, Remaining expenses is an umbrella category that sums up all of the remaining or “hidden” expenses that aren’t listed separately on the pre-strategy baseline for Schedules C, E, and F.

Remaining expenses include fields like advertising and utilities. For example, if your client has a Schedule C with $6,000 of advertising expenses and $4,000 of utilities expenses, their remaining expenses will show $10,000.

Use the Expense adjustments line to make any necessary changes to these expenses on the pre-strategy baseline.

How do I use Expense adjustments?

Use the Expense adjustments field to modify the total remaining expenses for an activity. You can open this client’s return in ProConnect or Lacerte to verify how much they expensed for particular line items last year.

Example:

Bob’s Tutoring company spent $6,000 on advertising in 2021, but in 2022 those costs increased to $7,000. His utilities also increased from $4,000 to $5,000. So Bob’s total Remaining expenses went up $2,000 this year.

To make this change:

1. Click the Edit (pencil) icon beside Bob's Tutoring Co.

2. Go to the Expense adjustments line and enter 2,000.

3. Press Save.

Now the total expenses for the projection year should reflect your change.