Having helpful, always-on tools to give your clients the information they need to make more-informed decisions is a key component of delivering advisory services to your clients. With the new Intuit Tax Advisor (ITA), the process is easier than ever—and right at your fingertips.
Thanks to the seamless integration between ITA and Intuit ProConnect Tax and Lacerte Tax, you’ll get vital insights and strategies to help your clients. Bringing tax prep and advisor tools under one roof, ITA allows you to create personalized tax planning that offers value-added services to your clients, including tax savings and powerful, straightforward reports.
“When more and more people are in need of advisory services to help them make significant financial decisions, ITA can help tax professionals differentiate their services and power prosperity with industry-leading change,” said Barry Pennett, senior vice president and general manager of Intuit ProConnect Group. “There is a clear need and appetite for creating more value for clients and firms, and ITA is designed to do just that.”
To get a sense of the value and impact this tool can have, here are some of the biggest benefits regarding ITA.
Automated Data + Powerful Integration = Time Savings and Accurate Tax Projections
With the integration between Lacerte and ProConnect Tax, client data is automatically mined to bring significant time savings to your practice and more accurate tax projections for your clients. In the process, all legislated tax law updates are incorporated into the software’s planning and projections, with built-in compliance.
All of this not only reduces audit risk, but also eliminates the time it takes to perform cumbersome tasks that keep you from helping your clients run and grow their businesses.
“Based on customer feedback, we designed Intuit Tax Advisor to help advisors save time and scale their planning services to more of their staff,” said Jorge Olavarrieta, vice president of product management and design at Intuit ProConnect Group. “Tax professionals can simplify proactive tax planning and advisory services with ITA to replace the current process of cobbling together tax planners, spreadsheets, and reporting applications.”
Personalized Tax Planning Strategies
Packed inside ITA is an endless number of strategies that can take your practice—and your clients—to the next level.
For example, ITA gives you hundreds of potential triggers in your clients’ tax data that show smart strategies for you to implement for your clients. Whether you choose to use them or dismiss them is your call, but you can also create your own strategy in minutes, and save and modify your strategies at any time. In addition, you can try different tax scenarios to see their implications, as well as explore the ITA’s library of strategies, where you can plug and play everything from hiring your kids to 401(k) contributions.
Customizable, Client-Friendly Reports
As you gather these recommended tax strategies and estimated tax savings projections for your clients, they will be automatically populated in a customizable, client-friendly report for you to share with your clients. This allows you to illustrate your personalized tax planning strategies and estimated savings plan for them, turning something complex into something easy to understand.
Before sending out the report, you can customize it in a professional way with your firm brand. Choose logos and colors that represent your practice, and update it year-round as things change or you’re feeling creative.
When it comes to pricing for ITA, it’s simple. To start generating custom tax plans for a client, customers just need to purchase a client credit. One client credit equals unlimited tax plans for that client within a calendar year. Customers are eligible to reserve three free client credits.
More Resources to Get You Started
ITA is a win-win for you and your clients. With ITA, you get the foundation to offer transformational tax advisory services that help your clients save time, save money, and strategize for long-term growth. In doing so, these value-added services will boost profits and productivity for your practice, while also bringing measurable savings and more accurate planning to your clients.
To check out the new tax advisory resources library for a step-by-step guide to offer tax advisory in your practice, visit https://proconnect.intuit.com/taxprocenter/practice-management/tax-advisory-resource-library-now-open-online. And for more information on Intuit Tax Advisor, visit https://proconnect.intuit.com/tax-advice-planning-for-professionals.
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