Today, Intuit Inc. (Nasdaq: INTU), maker of ProConnectTM Tax Online, ProSeries and Lacerte, announced the launch of its Tax Reform Resource Center for Tax Year 2018, a free resource to help tax professionals and their individual and small business clients prepare for changes resulting from the Tax Cuts and Jobs Act (TCJA). The Intuit ProConnect Tax Reform Center includes detailed answers to top tax reform topics, such as the qualified business income deduction, child tax credit, state and local tax deduction, mortgage interest deduction, alternative minimum tax and depreciation; webinars, and client-facing guides.
The resource center also includes a new Entity Selection Calculator, a tool designed for Tax Professionals to help evaluate the type of legal entity a business should consider, including the application of the Qualified Business Income (QBI) deduction. The tool includes 2018 individual and corporate rates, and explores the tax effects, including individual income taxes, self-employment taxes and corporate taxes, under different entity structures.
The TCJA is the largest tax reform in 30 years, and it will affect the 2018 taxes of most taxpayers. As the IRS continues issuing further guidelines, the ProConnect Tax Reform Resource Center will reflect those guidelines once they are final.
The TCJA created an unprecedented opportunity for tax firms to transform their practices and increase value as trusted advisors, said Intuit’s Chief Tax Officer, David Williams. With the help of the ProConnect Tax Reform Centers in-depth resources and unique guides, tax professionals can be armed with detailed information to focus on proactive tax planning, confidently answer every tax reform-related question and feel like the heroes of the tax season for their clients.
To help tax professionals understand major tax law changes and the implications to tax planning, Intuit ProConnect will be providing a series of free live webinars and training programs for tax professionals, many of which are eligible for CPE and IRS CE credit (exceptions apply).
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On October 18, 2018, Intuit ProConnect is hosting a free Tax Reform Boot Camp to help educate tax professionals get in-depth information on the tax law changes and discover how to take their business to the next level “ from tax preparation to proactive tax strategy and client financial advisement. This event is eligible for 6-hours of free CPE and the topics covered will include:
- The Tax Cuts and Jobs Act: Fundamentals
- The Qualified Business Income Deduction
- Tax Planning Workflow
- Tax Planning Strategies
- Additional Tax Planning Guides and Resources
The Tax Reform Resource Center will be continually updated throughout the tax season with detailed explanations and new tools and calculators to help tax pros be experts on Tax Reform and make it easier to understand the impact on clients returns.
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