Thomson Reuters has debuted Quickfinder Tax & Financial Tools, a set of calculators, worksheets and financial tools for tax and accounting practitioners.
Aimed at bridging the gap between tax preparation software and tax research products, Quickfinder’s user interface is designed to help tax professionals save time throughout the year and especially during peak busy season.
The main features include an individual income tax planner/calculator to estimate a client’s taxes for 2013 and/or 2014 or computing quarterly tax estimates. Various “what-if” scenarios allow tax professionals to see the impact of various tax planning strategies. The calculator can compute the regular tax, alternative capital gains tax, alternative minimum tax, net investment income tax, self-employment tax and the additional Medicare tax.
Tax worksheets include both tax planning and tax return preparation to automatically compute a variety of taxable scenario. The product includes worksheets to compute a sole proprietor’s allowable retirement plan contribution whether using a SEP, SIMPLE or solo 401(k) plan, along with the ability to compute and maintain a partner or S shareholder’s basis in his ownership interest.
Customizable client handouts enable tax professionals to provide clients with tax and business information, branded with their firm’s contact information, logo and photo. Professionally designed and written in straightforward, non-technical language, the handouts enable firms to communicate complex tax planning and compliance topics to their clients.
“Quickfinder Tax & Financial Tools was designed for the modern-day tax accountant looking to leverage the power of technology to provide value-added services to their clients, while working as efficiently as possible,” said Shari Phelps, senior director for the tax practitioner segment at Thomson Reuters, in a statement.
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