At TaxPlanIQ, we are committed to continuously improving our tax planning software to better serve our users. This month, we're excited to introduce key feature updates and enhancements designed to streamline your experience and maximize efficiency.
Welcoming Our New CTO
We’re thrilled to welcome Chris Smith as our new Chief Technology Officer (CTO) at TaxPlanIQ! Chris brings extensive experience in technology leadership and will oversee new product capabilities, technical support, security, and reporting. His expertise will help drive innovation and ensure TaxPlanIQ remains the leading tax planning solution for professionals.
New Features & Enhancements
Major Updates to the Growth & Event Tabs
We've made significant improvements to how you interact with key areas of the platform:
- Event Tab: Redesigned to make it easier to view and register for upcoming events at a glance.
- Growth Tab: Streamlined for better organization and clarity, making it simpler to track events and engagement opportunities.
ROI Fee Calculations Now Integrated into the RAP Flow
We’ve made it easier than ever to incorporate ROI Fees into your tax plans:
- After selecting and reviewing strategies in a tax plan, you’ll now be taken directly to an ROI Fee page to choose the Type, Suggested Fee, and any Adjustments—all within the same workflow.
- This update eliminates the extra step of manually adding fees later.
- For existing plans, clicking "Add Fees" will now bring up this improved fee selection screen.
Additional Enhancements
- State Taxes Auto-Filled: When uploading a 1040, the system now automatically detects the state and pre-fills relevant state tax details.
- "What You Keep" Page Updates: Improved layout with clearer, more intuitive editing options. Note: further updates are in progress to improve this page.
- New Market Growth Rate Assumption: A default 5% market growth rate is now factored into 529 and Roth IRA tax strategy calculations, reflecting tax-free annual market growth.
- Strategy Information at a Glance: Each Suggested Tax Strategy now includes an info button with a brief explanation for easy reference.
- 2025 Plan Year Ready: The system now defaults to the 2025 plan year, with the ability to adjust as needed.
- Tax Strategy Updates for 2025: All tax strategies have been updated with 2025 figures. Please remember to click on the “accept all updates” button at the top of the tax strategy library page. Note: This update will override any changes you have made to specific strategies within the library.
Ongoing Improvements
- Refined Tax Suggestions: Duplicate itemized deduction strategies have been removed for cleaner, more precise recommendations.
- Archived Strategies Hidden in RAP: Only active strategies will now appear in the RAP workflow.
- User Experience Enhancements: Font and display improvements ensure a clearer, more professional interface.
- Expanded 1040 Compatibility: Continued improvements to 1040-SR form reading accuracy.
- Presentation Word Download Upgrades: Enhancements are in progress and will be released soon.
These enhancements represent our ongoing commitment to delivering a comprehensive, user-friendly tax planning software. We're dedicated to providing tools and features that empower users to navigate the complexities of tax planning with confidence and ease. Stay tuned for more updates as we continue to evolve and improve our software to meet your needs effectively.