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Using the Tax Planner in ProConnect Tax

by Intuit•1• Updated 1 week ago

ProConnect Tax offers a tax planning tool that allows you to give your 1040 and Schedule C clients tax liability data based on anticipated future year federal taxes. You can use the Tax Planner to project the tax implications for future years of different scenarios and life changes to help your clients plan ahead.

What you can do with Tax Planner

Model “what-if” scenarios for your clients.
Compare up to three scenarios: Current Year, Next Year, and Custom.
Modify income, deductions, credits, and other tax items to see estimated impacts.
Help clients make informed decisions about life changes, like changing jobs or retiring.

How to use the Tax Planner

Open the client’s return.
Navigate to the Tax Planner from the left-hand menu.
Review the three columns that appear:
- Current Year (auto-filled from the return)
- Next Year (blank by default)
- Custom Year (blank by default)
Enter adjustments for income, deductions, credits, or other relevant amounts in the Next Year or Custom Year columns to model different scenarios.
Compare results across columns, noting changes in taxable income, credits, and refund/balance due.
To share results, select Print or Export and save or provide the report to your client.

Check out this video for a brief overview of the Tax Planner

Tax Planner features:

Ability to edit taxpayer's filing status
Add or remove dependents
Multi-year comparisons (up to three years)
Build multiple case scenarios (up to three scenarios per year)
Calculations based on actual current and future federal tax reform rates
Plans pre-populate based on your client's current year tax return
Import diagnostics
Built-in notes
Export plan summary to PDF

Known Issues

Rental income can't currently be entered or changed in a tax plan.
State tax plans are not supported at this time.

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