Personal Finance Software for Mac

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Rick J. | Forum Activity | Posted: Tue, Dec 24 2013 3:52 AM

I have been using Quicken for Windows for several years and it works well, but it is the only thing I use my old Windows desktop for and I would like a Mac replacement.

I am interested in knowing what Personal Finance software you are using. 

I would also like to know if you treat your Logos book purchases as an expense or an asset.

Thank you.

Posts 823
GregW | Forum Activity | Replied: Tue, Dec 24 2013 4:02 AM

Rick J.:
I have been using Quicken for Windows for several years

I did too until they stopped supporting it for the "rest of the world" so now use Acemoney which isn't as good, but it does work, is reasonably cheap, and is licensed for both Windows and Mac. 

I treat resources as an expense - I view them as an asset, but I'm not sure I would get that past my wife!


Running Logos 6 Platinum and Logos Now on Surface Pro 4, 8 GB RAM, 256GB SSD, i5

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Jack Caviness | Forum Activity | Replied: Tue, Dec 24 2013 4:04 AM

Rick J.:
I would also like to know if you treat your Logos book purchases as an expense or an asset.
Can't answer your first question, but in the US the IRS would consider your Logos resources to be depreciable assets. However, with the Section 179 deduction you have the practical effect of treating them as an expense. a good tax preparation program or an accountant will provide much assistance here.

Posts 1928
Donovan R. Palmer | Forum Activity | Replied: Tue, Dec 24 2013 4:30 AM

We use iBank from IGG Software. At the time when we moved from Quicken, it was the only one that handled multiple currencies well. It also did a reasonable job of importing our quicken data. We have been pretty happy with it. I think we are on an older version, so I can't comment on version 5 yet.

Posts 226
Michael A. Lasley | Forum Activity | Replied: Tue, Dec 24 2013 2:47 PM

Just use the Mac to run Quicken for Windows. Use Parallels and you can have a Windows window on your MAC, and run windows programs and mac programs at the same time. There is nothing better than to update windows and have the computer stay running while only the window restarts. You can even play music on the mac while you are rebooting the windows. Quicken for Windows is the best financial software noe=w that there is microsoft dropped their financial product.

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Mark Barnes | Forum Activity | Replied: Tue, Dec 24 2013 11:55 PM

Rick J.:
I would also like to know if you treat your Logos book purchases as an expense or an asset.

In the UK reference books (such as a Bible Dictionary) are considered assets, whilst books for immediate use (such as commentaries for your current sermon series) are considered expenses.

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Jack Caviness | Forum Activity | Replied: Wed, Dec 25 2013 3:45 AM

Mark Barnes:
In the UK reference books (such as a Bible Dictionary) are considered assets, whilst books for immediate use (such as commentaries for your current sermon series) are considered expenses.

And I thought our tax code was complex Hmm, Where does this put NICOT/NT if I am preaching a series on Romans and another on Jonah? Geeked

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Mike Binks | Forum Activity | Replied: Wed, Dec 25 2013 3:50 AM

Rick J.:

I am interested in knowing what Personal Finance software you are using. 

I would also like to know if you treat your Logos book purchases as an expense or an asset.

accountz.com is the way to go.

Inland Revenue have never rejected my claim for tax relief on my logos expenses.

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Mark Barnes | Forum Activity | Replied: Wed, Dec 25 2013 9:10 AM

Mike Binks:
Inland Revenue have never rejected my claim for tax relief on my logos expenses.

The official guidance is:

  • Capital allowances: You may be entitled to capital allowances (effectively, tax allowances for depreciation) for your costs of essential equipment or theology reference
    books.
  • Expenses: Books – you can deduct the cost of books you purchased for use in divine service or the preparation of sermons. No deduction is available for books or periodicals you use for general background reading.

HMRC have never queried my accounts, and when I'm doing my expenses I tend to simply ask myself "Did I buy this because I needed it now, or because I hoped it would be useful over the longer term?". Consequently most of my Logos expenses go down as capital allowances, as I tend to buy bundles rather than individual volumes.

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