TaxPlanIQ, a leading provider of tax planning software for tax and accounting firms, is excited to announce the release of Version 3.0, featuring significant automation upgrades and comprehensive implementation tools for tax strategies. With this latest version, firms can now upload a 1040 and receive tailored tax planning strategies powered by AI for their clients in a matter of seconds, complete with detailed reasoning for each recommendation.
“This update has revolutionized the way tax plans are created, reducing the time needed by 70% or more,” said Dave Lukas, CEO of TaxPlanIQ. “What once took about 30 minutes now can be done in just a few minutes, allowing even those with minimal experience to generate a thorough tax plan quickly and easily. Our goal is to make tax planning and advisory services so user-friendly and accessible that firms of every size can confidently deliver this valuable service.”
Version 3.0 also now includes 120+ high impact tax planning strategies. “Most of the other tax planning softwares focus on saving the business money, rather than the individual,” said Lukas. “We’ve decided to create TaxPlanIQ centered around both the business and the 1040, and have added a lot of strategies that help advisors save high income individuals a significant amount in taxes. This is where TaxPlanIQ shines against the competition.”
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Examples of unique strategies that are included in TaxPlanIQ are:
- Solar Passive Investment Strategy
- Back-Door Roth
- Individual Energy Credits
- Film Debt Financing
- Content Creator and Influencer Income Optimization
- Day Trader Tax Status
- Tribal Tax Credit
TaxPlanIQ provides tax and accounting firms with the capability to maximize tax savings opportunities for their clients while growing their firm. The company’s flagship product provides a way to quickly upload a client’s 1040, see curated tax strategies, and develop a customized and strategic tax plan with just a few clicks. The tax plan showcases potential tax savings for the client. The software also provides the accountant with easy-to-understand implementation steps, IRS court case references, pros and cons, and potential partners for each strategy.
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