Abstract: A cutting tool for laminate flooring and the like for removing some or all of the retaining lip on a flooring plank to facilitate sliding the plank into place under an obstruction such as a door frame. The cutting tool comprises a main housing with a recess to allow it to be positioned against a flooring plank. An adjustment screw allows the cutting blade to adjust vertically to remove material from varying sizes of planks. An alternate embodiment of the cutting tool positions the cutting edge of the razor blade at the same vertical position as the retaining lip of the flooring plank to remove all of the retaining lip.