Tax Report

[jkline222]

I think there is a big opportunity to create an overview tax report for a client. It would show the base information about a given return - Total income, AGI, Deductions, Taxable Income, Total Tax, 2024 Safe Harbor Tax Withholding, etc.  And then a section that shows Marginal Tax Bracket (and where a given return falls). Also, a Modified Adjusted Gross Income Planning Opportunity checklist that shows Over/Under/Phaseout for a given strategy. Such as, Net Investment Income Tax, Roth IRA Contribution, Lifetime Learning Credit, Clean Vehicle Credit, etc. A lot of this tax stuff feels like a black box to our clients and they don't understand why they can't take this deduction or that deduction. Having this all visually in a report would help them understand.

[jeffery sauer]

I agree - is this possible in lacerte?

[Kallana]

Intuit Tax Advisor does not do this as the client report is more top level.  However, the tax planners for both Lacerte and ProConnect do allow for more detailed reports that show specific deduction information and tax brackets.

[Intuit_Ruben]

Thank you for your feedback. We have a lot of this in the Tax Plan report, but not the marginal rates. Good add. Also, be aware you are now able to print the PSB and Review plan, which might de-mystify the black box a little. We will keep this open for voting.