From its origins as a response to client inquiries on how transactions would affect their tax returns, tax planning has morphed into a year-round enterprise for practitioners, as well as a solid builder of client loyalty.Yet it's still a relatively well-kept secret, according to Jorge Olivarietta, senior product manager at Lacerte. "When a client comes in for tax prep, it's not just about inputting the information and creating a return," he said. "An accountant's job is to take the inputs, and make sure that what the customer is planning on doing is the right action. At the end of the day, you want to come as close to zero liability as possible."
Ron Sosinski, the product manager of customer relations for CCH's ProSystem fx Tax, agreed. "Planning is an additional service practitioners can offer to help clients make financial decisions. Tax laws aren't getting any easier, and it's more important than ever before for clients to know what effect their actions will have on their taxes."
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