I also just drop it when I stop losing. It's easier that way, and I want as much food as I can while still being able to lose.
Right now I'm doing about 1400 a day, but that's just until I get back down to my pre-holiday weight of 118-119 (I just want to get rid of it a little bit faster

). Then I'm going to bump it back to 1500-1600 where I was, before the holidays.
I know a lot of people cycle their calories and that's supposed to help avoid plateaus. So 1500 calories a day for a week is 10,500 calories and then you can divide that up however you want (1700 one day, 1300 the next, ect.), that works well sometimes, especially if you know you have a big dinner planned one night of the week.