Name: Intuit Lacerte: Tax Planning & Advisory
Uploaded: 2025-10-21T17:17:08.606Z
Duration: 1 h 1 min 8 s
Description: Intuit Lacerte: Tax Planning & Advisory

Transcript for "Intuit Lacerte: Tax Planning & Advisory": Hello. Thank you so much for joining me today. Glad to be here for this session. We're gonna be talking about tax planning and advisory inside of Lacert. This session will be focusing really on Intuit tax advisor. So if you're new to that particular solution or you've heard about and wanna learn more about it, that's what we're looking at today. More on that in a moment, though. Let's move on ahead here and just introduce myself briefly. If you don't know who I am, my name is Ross. Again, glad to be here. I'm a solutions specialist here at Intuit, which means I get to help firms, currently using Lacert, interested in Lacert, get more acquainted with our software. And one of those elements is we'll be looking at today that, into a tax adviser that can provide that advisory, those details, and help clients, help yourself provide those proactive insights around their tax scenarios. And that is something I enjoy doing just in general helping firms discover what more they can deliver, what more they can provide. Because I know I talk to firms like yours all the time, and the good ones care about their clients. They wanna provide their clients with those insights and be that trusted adviser, and this is one of those solutions that can help do that. So as mentioned, we'll begin things talking a little bit more strategy, not theory, but strategy around tax planning and advisory. Okay. Maybe some theory, some ideas or concepts we wanna make sure that we have down pat. Then we're gonna spend a lot of time in this session actually inside of Intuitax Advisor, going into the software, looking at clients, preparing estimates, preparing returns. We'll be taking a peek at that as well. We'll also take a look at, some of the strategies available, you know, how to do some custom strategies. We'll kinda wrap things up with that, and, we should be done in about an hour. So that should be what we have, going on. Let's get started, though, with some brief housekeeping. First and foremost, you can see the best practices on screen here. My general advice is always press f five on your keyboard or refresh your browser if problems, pop up. If problems keep popping up, try a different browser and ultimately try a different device. Most users don't have any issues at all, but sometimes older versions of your web browsers or if you have extensions or add ons can cause issues with the video player, for example. There also will be a survey at the end of this presentation. We appreciate you taking the time to complete that survey so that we can do things better next time. You will also be able to watch this session on demand after it ends by using that same link that you used to access the session today. We will have some polling questions throughout the session today. You'll see those on the screen in front of you as well as in a poll tab that will only appear when the poll is active. You can see that poll tab between chat and docs, and the answer to select will appear right in front of you as well, to, you know, submit that button on the screen in front of you. If you don't see a poll tab when I mentioned that there is a poll going on, go back to my previous device, refresh your screen. Generally, that will prompt that polling question to pop up. And this session is eligible for one CPE credit and zero IRS CE credits. You can see the requirements listed there on screen, including that polling question requirement. If you have met the requirements, you get a certificate with your CPE credit within forty eight hours. If you don't see it, check your junk or spam. And if you still don't see it, send us an email at [email protected]. And, look, we have our first, almost just like a trial polling question. What's your primary reason for attending this webinar? Go ahead and answer that question for me. Really quickly here, like I said, we'll spend about thirty seconds or so on this polling question before we move on. I also want to mention a few other things too on that housekeeping side of, I guess, topic on that topic. You can find the handout, the presentation slides for this session in the docs tab. That will include the presentation slides, which do have several built in hyperlinks, guides, video resources. So even if you're not wanting to follow along with the session today, I recommend downloading that content so you can have those links for the future. Also, you'll find the q and a tab where you can ask questions to myself, my team behind the scenes if you have any questions about the session today, and you can use the chat, to talk to your peers, everyone here today. Ask them for their opinions, their thoughts, their perspectives. Take advantage of that. It's not often that you get, a large number of tax accounting advisory firm professionals in one room to pick their brains, so feel free to do so to ask those questions about tax planning advisory, best practices, etcetera. Okay. Let's wrap this polling question up here in three, two, and one. And then just a quick disclaimer here to mention that this session's educational nature should not be construed as tax advice. Again, we'll be talking about tax advisory, and so there will be some tax topics you'll see. Things can change very quickly, though, so I encourage you to stay up to date on any of the recent legislative changes or interpretive changes, anything like that. You know, things can change very quickly in our industry, so keep that in mind. Perfect. So we begin with our first topic, which is, tax planning and advisory. And, again, for those of you that are already doing planning, advisory is more of a dedicated service or offering you have for your clients. Some of this may be repetitive. It may be something you've heard before, but we won't spend too much time on it. For those of you new, this conceptually should help you, better appreciate, what this can provide for clients, what it can provide for your firm as well. So first and foremost, we wanna talk about what this platform is bringing together. So because Intuit tax advisor is directly integrated with Lacert, you're going to be able to take the insights from your clients' returns in Lacert, leverage those AI driven, kind of data mining, finding the patterns, finding the amounts, and being able to automatically generate, certain strategies and certain savings, certain, insights that may not be as easy to find if you were having to manually go through that yourself. What that means then is we're saving time, and time automatically relates to capacity, which means you can bring on more clients, or you can take that time back, you know, that old edge. Time is money, and that time savings is pretty significant. Saving, you know, from between from two point three hours without Intuit tax adviser with traditional tax planners to twenty two minutes with Intuit tax adviser. And perhaps most importantly for your firm's reputation and for building your, again, platform profile as a trusted adviser, generating these details so that your clients can understand them, and that you can communicate more easily with them instead of the services and value that you're providing. On top of that or along that along those lines, it's not just about having your name out front and having the advice and the details your clients can understand, but helping them to understand and truly quantify what those savings are by strategy. So now it becomes less of a, hey. I feel good about that advice. I think that's gonna be really helpful. Now it's I know exactly how much my tax liability reduced, what my return on investment was, and it helps your clients not just feel the value, but understand and see the value that you're providing. And as I mentioned, because you're able to do this much more quickly, you can start to scale this. You're able to, apply this to a larger segment of clients. You may not have been able to do so in the past or identify clients that you didn't realize were good candidates for advisory. But now because of Intuit tax advisor, because of analyzing that data return, now you can, more easily identify those clients that could benefit from advisory and tax planning. Now we're gonna go through and see it in action live in person. This is a wonderful resource, though, to have recorded to to, see a quick demonstration for into a tax adviser after our session today. If you wanna revisit or share it with anyone else, you can do so, as well as some of the benefits, kind of what we're talking about now as to why you would wanna use Intuit Tax Advisor. As you can see, I won't go through all these and read them off. You'll have a lot of built in benefits as far as, of course, that data sync, being able to, show and communicate those strategies, and really have a report that is pregenerated or pre populated based on that. So you're not having to spend time, you know, putting together the artwork, the the document itself, the communication, the step by step instructions, all of that's being done automatically, which directly relates to all of those benefits you see on the right hand side of the screen. So the question that I'm asked is, well, then fine. Great. You're you're selling this. You're pitching this. How much does it cost? Well, the for the next polling question I have for you is, false? Is that true or false? Again, we'll just take about thirty seconds here for you to answer this question, and I'll answer it for you now so you don't have to guess. You already answered. Sorry. I guess you can, there's no wrong answers, I should say. But the correct answer here is, it's not purchased separately from Lucerne. It's included. So you don't have to use it, but it's already available inside of Lucerne. You can sync your clients, your ten forty clients with Intuit tax adviser, can use it to identify those clients, can build estimated tax strategies and plans, full tax plans for clients if needed, and have that information and, ready to go. So we'll close this here in three, two, and one. And, of course, the answer here is I already have mentioned. The answer is false. It's not purchased separately. It's included with LeCer or ProConnect tax. It's not something that can be purchased as a a stand alone offering. It's included with the software. Wonderful. So now we get into again what we'll be spending most of the time on in this demonstration. Very quickly here, we're gonna be covering resources, how to identify clients, how to create quarterly plans, how to create strategies. What we're not going to cover in this demonstration, but I have included resources for, is how to sync clients with your Lacert software. So Intuit Tax Advisor is a cloud based solution. It does work inside of Lacert as well, but you still have to sync this information up, with the data in the cloud. It's a very simple and straightforward process. You can if you're in Lacert right now, if you're looking at it, you can see the Intuit tax advisor low low logo or icon in the upper menu bar, the the graphics bar, the picture menu bar, and listserv from your client list. But this guide will show you how to sync your clients with Intuit tax adviser. And we are also not going to be talking about the listserv tax planner, which is a separate, offering that's included in some Lacert packages, can be purchased, stand alone. It's not, it's not gonna be covered in today's session. But if you were interested in how to use the tax planner, I have included those steps or those guides as well that you can get from the handout. So without further ado, let's jump into this demonstration. Let's get hands on and into your tax adviser and see what it can provide. Perfect. So now we are looking at Intuit tax advisor. Now I know sometimes things are a little harder to read when I'm sharing, so let me zoom in just a little bit here. There we go. Now we can see it a little bit more a little bit more detail. So this is your welcome screen. This is essentially where you can get started in the environment to, begin this planning process. Now, should mention too that, for Lacert. If you're using Lacert with Intuit Tax Advisor, this is something where before we get started here, really wanna make sure we sync our clients. Keep that in mind for ProConnect tax, your clients are gonna be here by default. They'll be synced automatically. I'd like to mention that, as well. I know there are some firms that use both. Again, most but I'd say most firms don't use both, but there are some that do, so keep that in mind as far as knowing the different processes that are available or that are required for having your clients actually appear here. Now this main welcome screen, I like to call this out and spend time in this section first because of all of these resources available to you. The quick help, you'll see on the right hand side where we have that demonstration I had called or called reference to earlier, the create a full tax plan. But we have additional resources here as well. And some of these are more thought leadership, especially if you're not offering advisory services yet, how to start leading with tax advisory, how that becomes a core element of the services you provide, and how to position your practice and pricing that way, as well as some additional webinars and resources like the one like this one. But also these built in videos here that talk about some key steps inside of Intuit tax adviser. We're gonna go through some of these today, but not all of them. And so that's why I reference this just because sometimes there are some specific things that you'd like to learn about for maybe certain clients, and we'll have step by step guides for a lot of those different elements there, those different pieces. So you can see those and find those resources available. The other place to call out here is the help menu located on that left panel. So you're able to find that as well, as well as the give us feedback. So that's another key element. We're really, in general, receptive to feedback, but for Intuit tax adviser, we wanna know what strategies are working well for you. If you're creating customer strategies, what are they? Give us that feedback so we can craft Intuit tax adviser to meet your firm's needs, better in a way that really solves for what your clients are seeing. Because we'd know that if we have that for your your firm, we know there are other firms that also could need that help. You can also see any of the new, most recent releases or updates, and you're also you also are going to be able to see some additional elements here on that left navigation panel. Now we're gonna be spending most of our time in this top menu bar as far as the welcome goes and looking at plans and looking at clients, but this is where we wanted to start things off. Now the first thing you'll want to do, unless you already have a client that you know for sure you're gonna do planning or advisory around, but we wanna identify or at least find our clients. So by clicking on this client list, we're gonna see all of our clients again synced from Lucerne or synced from ProConnect tax, and we have all of these columns we can see, first of all, which client is it, who is this we're talking about. We can see which forms or schedules are in their return, what their what their balance due or refund is, their AGI, and some additional information about their tax return as well. But then we get over to this far right hand side, notice that our column we have for likely strategies and potential tax savings are going to let us filter our clients by those that have the most potential tax savings or the most potential strategies that can be applied. And if I click on that strategy column, for example, I can see the the types of strategies that it's suggesting or that it's found that could potentially be a fit for this client. I wanna be clear about that. It does say likely strategies. It does say for sure strategies. It's going to give you some strategies that based on what's going on in the client's return, we think that these strategies will fit. Right? That doesn't mean they will necessarily. And so we, of course, you have to go to turn them off or enable or disable if needable. Look at that in a moment. But this still gives you a good starting point or a reference for where or which clients could benefit the most. The potential savings is also a big one because while it may have less strategies, they may have more potential to reduce their tax liability as well. And so this is a wonderful way to see that information. And once you've identified a client, you can then either directly create a tax plan from this screen, or maybe you'd like to engage with them and you'd like to send them an email. We give you this template copy that you can copy and paste. Notice we have it for tax savings, estimated payments, or estimated payments with tax savings proposal. So combine the two above, and this is something that you can, again, copy and paste for this client into an email, to get essentially their engagement, their further interest in this service you're providing. Now for those of you that have tax advisory as just part of your general engagement as well, you may not need this, but for those of you that are wanting to get in or start offering advisory as a more, standardized service for your clients, That's going to allow you to engage with them and kind of using that as a little bit of a marketing tool that's customized for each client, but also can help gauge their interest in you providing that service. We're actually going to start so we're not necessarily gonna create a tax plan for this client yet, but we're gonna actually navigate slightly just so you can see the other way to create plans. We're gonna navigate to our list of plans. Now this will show all the plans that have already been created, and notice at the top you can filter between the tax plans and the estimated tax plans, so you can jump between the two of them, and you can also search for clients. So if you're wanting to find particular clients, you can use that to search. And notice also there's a filter here as well. So if you're wanting to find clients that have certain years or certain projected years, you can do that as well, especially helpful if you're just wanting to see, you know, the most recent year being projected. We're not worried about prior year plans necessarily, but you can apply those filters to see that information. You can also go back to see those potential clients directly from here. Just like in, in most of our applications, there's not one right way to do things. We offer different routes to get to the, to get to the outcome. And so this is another way you can go to see those potential clients, and the strategies and savings that could be available for them. But in this case, we're gonna create a new plan. And at this point, we're get asked, do we wanna create a tax plan or an estimated tax plan? We're gonna start with an estimated tax payment plan first. And I'm gonna go ahead and find a client. Perfect. We'll use that base year. We'll find a return. Now notice this return was an e filed, that's okay. This is again just for me demonstrating this to you. If you were doing this, you maybe want to find a client that was e filed, but you don't necessarily have to. It's gonna take whatever information is in the return at that moment. The reason why it's highlighting that it was not efiled is because that may be an indication that the return isn't finalized. It's not actually complete. Again, you can still build any of these plans from incomplete returns, but you may have to do some additional input within into a tax advisor so that it is the most in the most accurate state for planning or doing these estimated plans that we're doing now. But we'll select that return, and then here I can name it really whatever I want, And I can choose again, 2025 is the year that's supported here, so we have that already preselected. And I can start planning and build out this estimated tax plan. Now we get brought to this first screen, which has a few, updates or tips at the top that are always important to take a look at, just bringing new developing stories or new new developing, changes, input updates, that type of thing. The first thing I wanna do just so that I can kind of get a better handle of this information is I'm gonna collapse all of these fields below. And just so that I have a little more real estate, I'm gonna close out of that tip there. And I can see down below just a overview of everything that's going on for this client. As I mentioned, all of this is coming through in the return. And remember, I'm I'm looking at this in kind of a zoomed in mode for all of you so you can see everything more clearly. If I'm working on this on my own, I may wanna have this zoomed out more so I can see things, more things that it's at one time. But, again, for everyone to see, I'm I'm zoomed in a little closer than I normally would be working. All this information, you can expand. Again, it was expanded by default, and you can make adjustments or changes to any of these fields. Now if you make an adjustment to these fields, you can just type it in, but the W two field in particular has a very nice calculator, whereas if you're not quite sure what the full year W two amount will be, you can use this calculator to estimate what the w two what the final, wages will be for your client at the end of the year. So this is a very, very useful tool to plan this out. This is available not just in this estimated tax payment section, but also in the full, tax plan module or the tax planning side of things. But this is extremely useful. Also, if you if your client has some type of new activity that wasn't on their tax return, but does need to be part of this estimated tax payment plan, you can add that here. So maybe they've started their own business, and we're gonna have some schedule c income, you know, new pass through amounts coming through. Any of these different areas, you can add into this plan to add that new activity so that you're calculating what will be or what will be the correct estimated, taxes for the next year with that new activity in place. And it may not be an entire new activity. Right? Just like I mentioned, maybe there's their salary has gone up for the year, maybe they're having more rental income, any of these areas, any of these fields down below can be adjusted so that we're having new amounts created. So in other words, we have our twenty twenty four actual amounts coming from the return. We can change that baseline, what's changing for '25. We'll be able to see the difference in that difference column, but this is gonna allow us to make any of these adjustments here so we can accurately create this estimated tax payment plan. Something else is beneficial because there are quite a few zeros here too is some firms like to, hide the zeros, but that's something where it's saying, hey, make sure you turn this auto count, off or, excuse me, on. When we do that, now we can hide our zeros and have just the fields now that have amounts. So we've we've essentially taken out all that white noise, and now we only have the activities that were actually relevant or coming from this client's return. So you can keep that in mind. I should spend just quickly here on that auto cal. If you have that auto calculate on, whenever you make a change or adjustment, it's gonna calculate everything automatically. If you're making a lot of changes, you may wanna turn this off to make all those inputs, all those changes, and then you can go in and, calculate it. It will calculate when you navigate between these different tabs at the top, when you close the return, so it's not going to lose all of your information if you don't have that auto calculate on, but keep that in mind if you've got a lot of information to input. Notice too, we also do support states. You can have your primary state here as well. This will be true in the main plan or the full plan as well, but you have that information you can go to also. Once you've adjusted these amounts, so for example, just to put them out, and let's say that, let's say we'll change this to 75, and you'll see that it'll calculate. So this is where having that auto calculate turned on. If you've gotta make several changes, you may not want the auto cal to be turned on. So we'll go ahead and shift that off just for now, so we're not having that. And I'm gonna make just a few changes throughout here. Now I can make those adjustments directly here, but I can also do the view input details. So I like to call this up because if you're familiar with this style of input, this may be easier to actually go through and change. We see all the information coming from the return. Again, in a format that's probably more familiar to you. And if we wanted to make those any changes here for amounts, for in the income statement in general, we can do so. And let me just make something here that's really more drastic a change, and we'll keep going through. Perfect. So we have some changes there. 25,000. Good. And I don't know if there's anything else we really need to change. I guess, let's make something really, let's just add, like, a a big number. There we go. Or a bigger number on that one. Perfect. Great. Notice my auto calculates not on and we get that warning. Just say, hey, the amounts, you may wanna update that, to have those amounts. I'll just go ahead and turn auto calculate back on so we'll have that ready to go. Looks like we're ready to then now just see what our client report looks like. So we're gonna jump over to that report to see what these amounts are. So it's giving us this estimated tax payment plan. I don't know if we have anything for California. Let's see. Yeah. We do. We have California generated also there for this client. But this is a report now. You can share this with your client. This is something that just gives them the basic estimated plan based on their amounts that they had, right, inside of this inside of this program. Now it may not be what was in the return, it could be. Right? If it's just the return, generally, you can use the pre calculated amount in the program, but this allows for a little bit more finer control over those changes, over those amounts. You can, preplan or get those estimated tax payment plans set up. Now there are some settings here as well that you should be aware of. I can click on report settings to see where you can customize this information, including your logo. So this Intuit logo is not the default logo there. You can put your own logo. Right? You can add that same with any kind of color themes or information here. You can make those changes. You're also I don't think we have anything hidden. You're also able if you wanted to say hide maybe the state's side or if you wanted to put the state before, we should be able to drag and move that around. So you have some customization here as well in this report and how it prints out. When you're ready to share this with your client, you can download this report and then share it with them again as a PDF document for them to use. So that's the basic idea here, and that's really kind of the the process maybe with training wheels if you'll oh, again, I didn't allow or excuse maybe the analogy of the basic concept of into a tax advisor. We're gonna take a client's return in, have the baseline amount so we can adjust, and then from there, in this case, it built out an estimated tax plan. But what we'll see when we look at the full plan is the ability to, adjust those with not just here's what your estimated payments will be, but here are some strategies you can use to reduce your tax liability. And so going back to my list of clients, if I click on create plan again, and now I'm gonna choose the full tax plan, we'll go through something very similar. I'm gonna choose my client, I'm gonna find their return, and I'm gonna build out their tax plan for the next year. Now, just like we saw in that list of clients, I see that there's, you know, 24 possible strategies, some pretty significant savings here for this client, and it has that little caveat right right here. Right? It's just saying that this is just based on what the tax return has in it. The actual savings may vary, but this is still a good indicator that this client could benefit from this particular, advice, these particular strategies. So let's take a look then at what a full plan looks like. And as we can see, it's pretty similar. Right? There's not a whole lot that's that's drastically different on the input from our estimated tax plan, except you'll notice a few additional tabs across the top. So now instead of just going from our pre strategy baseline directly to the plan or the report, we have some strategy section, a review section, and then the report section across the top. Additionally here, and I didn't call this out before, but initially here, we can expand these things to get a little bit of a summary to see their profile, what type of return, are they married filing joint, what's their primary state of residence, who are their dependents, right, do we need to add more dependents to this section. And we can also see the summary information here in the summary section to see what their actual what their projection are to see this information at a glance to see that summary details. Now, just like before, we can keep our auto calculate off, we can hide all the zeros, and what this will do again is if we turn that auto calculate on and hide all of our zeros, now we just have the key details that are coming through for this particular client. Just as before, if you need to make any changes to your baseline, your pre strategy baseline, you can either make changes directly here. Again, in the case of the w two, you can click on the calculator if you need to put in, say it's partway through the year, you don't know what the full year w two will be, the full year wages, you can make those estimates here, put in this, the amounts to calculate, what the full year will be, or view that information on the input screen on input details to see the input. And, again, a more familiar view, a style that's more familiar, to both ProConnect and Lacert, as far as the layout and the formatting is concerned. But you're able to input this information, make any changes as needed. We'll just, make a quick change there like that. Wonderful. And even you know, I say changes, but even certain information around activities. So to change, for example, we're looking at, some rental income, adjusting that from passive to nonpassive is another, change or adjustment you made. So it really is it's not just tweaking numbers. It's allowing you essentially to recreate or put in new information, new activities, new amounts, adjusting details around those activities so that it will kind of precalculate the amounts. So you're not having to do those calculations yourself. In other words, just like I said there, having an activity go from passive to active isn't always as easy as saying let's just update a number or a final amount. It may have, repercussions or it may factor into multiple areas of the return where that's being calculated. And that's something to keep in mind as well as we're not just tweaking the numbers and having the numbers come out new. We can make adjustments to specific activities in the return that will impact every other area of the return that's being calculated. Just like when you prepare a return, when you make a change or an adjustment to whatever form, schedule that you're entering, it may not just impact, and oftentimes, it doesn't just impact that schedule. It has the wider reaching, implications to calculations throughout the return, including state calculations. That's true here as well. And so it's smart enough to say if you make a change here, we know it's gonna impact, x y z at the same time, whereas sometimes in planning, it really doesn't connect those dots as well as what Intuit Tax Advisor does. But that's our first stop just like we've done here. Now I can press 9 as my message is alerting me to. I can turn auto calculate back on, but it's also gonna save that information as I jump to my next tab, and you'll see that recalculate. And the next tab is our strategy tab, and this is where, you know, we apply some strategies. We decide what's gonna work well for clients. It's gonna have some strategies preselected. I also wanna mention that Intuit Assist is really called out here pretty big and bold. Intuit Assist is an, an AI assistant that will help you, answer some questions or apply some strategies for clients. So as you can see some examples here of prompts you could use for it, like maximize my client's business deduction, convert from schedule c to s corp, show me top three retirement strategies. So you can chat now, and we'll just actually go ahead and let's try that. Show me top three retirement strategies. We'll just give it a try. Yep. I'm zoomed in a bit too much. There we go. Oh, good. It actually prompts me here in a bubble. I can just click on it. No. Maybe I can't just click on it. Well, let's try to ask the question. There we go. I wonder if my environment doesn't have full access to and to assist. But that's that's a shame because that's really helpful to be able to ask questions. But again, sometimes my sandbox, my environments don't have all the full capabilities, unfortunately. But this is something that you can use. Again, it's not designed or is fully built out as some of the other Gen AI tools you may be familiar with out there in the wild. It's really laser focused again on these specific tasks around strategies and strategies that are applicable to clients. It's not going to have the full the full, impact. If you're trying to do, like, tax research questions, it's not built for that, yet. It's really just designed to identify for this client some of those potential strategies and savings. So a useful tool, sorry, but it wasn't enabled for my account, but it it will be for yours. You'll have the option to do that. Now you may not need to do that too often though because, again, it's already identified some of these strategies for you. So as much as that tool is useful to say, is there any other strategies that may fit? We've already identified strategies that you can use. And so by looking at, some of these strategies, for example, we can see the ones we want and just adding those to the return will then generate them and show them here now. There's no savings there. We can continue through though. And you don't have to add all of these strategies, it may be the case some of these don't quite work and that's just fine if that's the case. So if we're not quite, convinced with that as a strategy, dismissing it will work. There's no need here to apply any of these strategies really, but this is all gonna help essentially calculate what are the savings, what can be done. So adding a few of these here will show us some of these savings, some of these, these insights for the client. And I can continue to scroll down. You can see there's several other strategies here that could be used. But then we get to the bottom and we notice something that isn't necessarily a strategy, like the ones at top, but it's called an analysis or an insight. So these are these are insights around things like, in this case, QBI. And it's explaining that we can add this, analysis to the return to help yourself and hopefully your client also understand that calculation better. So we can see the details here. We can see our phased in reduction and then that federal QBI worksheet to see those high level details and help with that analysis around, in this case, QBI deduction. And we've got a few strategies listed out here. We haven't calculated it, so we'll go ahead and calculate that now that we've added these strategies. And what we'll look at next is it's nice to have these strategies added again. These are the ones that were bound, that were self identified. Notice too that you can toggle these on and off. There's the the green slider. So if you decide even though you've added them, you maybe not don't include them in the calculation or don't include them in the final report. We can simply ship those off to no longer be included here. But I wanted to call it the fact that one, all the strategies that are suggested, you can search through and you can also click on our entire library of strategies to find all strategies that are available to you. And again, searching through is helpful, but you can also add custom strategies here. So if you're wanting to add your own strategy with name, description, what it's related to, a federal or state, and including the impact of those strategies as well, how what that impact, what rates it will impact, and what that out of pocket formula is for spending and what it will take to implement the strategy. We won't go into too much detail around custom strategies, but I like to call up that it is here. You can click on add a custom strategy. And once you've created that custom strategy, it can be applied to any client that it fits to. So you can essentially create that and reuse it, and that'll let you scale that strategy across any client that it may be applicable to, just like you can with any of our pre created or predefined strategies that are built out in our library or that are being assigned as an input. Also wanted to call out that if you wanted to find strategies that relate to certain or specific areas, you can hide strategies, or see strategies just for those areas as well. So it lets you further filter out, refine what type of strategies we're seeing here, again, as well as the federal and the state. Another element here that I didn't talk about is if I click on the strategy name, I'm now going to get information for this strategy. So the about this strategy, we can see this is going to print in the client reports. This is what your client will see around details for this strategy. But it also includes internal information for you when you're applying this or wanting to understand why this strategy is applicable or how it's being used. We give you those insights that'll help you make any determinations you may need to make around this strategy and its, relevancy for this client, as well as seeing any other additional research considerations here. We have hyperlinks to some of the documents and resources to find out more information around it. You can see the formula, how this is being calculated, how the change in the strategy is being calculated for your clients. And then finally, in client materials, this is information that's going to print for the client report. So when your client sees this, and for example, something like business use of home, when they see this, they're going to be given resources around that, some links to look at, as well as what they need to do. So what are the action steps needed? We'll see that in just a moment when we look at the report, but all this is built in here again. We got here by clicking on the name of the strategy. It doesn't have to be just in our left navigation. It could be a strategy that you've applied in this return. That's gonna let us see the details around this strategy, that you can use. One, in having client communication now before you deliver it, but two, in helping you and your firm and anyone working on these strategies, these plans for your clients to better understand them and to dig in deeper on the research side if you need to. Now there's nothing that's preventing you from coming back here and adding more. So moving on is not saying we're done. We're wrapped up. We don't need to add any more strategies. Just like when you're preparing the return, you can always go and see the output before you're necessarily done with the input. So just because we're moving on from this screen, doesn't mean that we can't come back here or could come back here if we needed to. But our next stop is Review Plan. This is going to show us, a bird's eye view of all the different things that are changing within the, within the plan based on what we've added. So that includes, right, we have changes to our baseline, And now we have changes that are coming as a result of any strategies we've added. Now we can see that summary information here. Just like before, if we turn our auto calculate on, we can hide our zeros, we can filter by certain strategies that have been applied, We can collapse all these fields just to see the high level amounts as well. And if we want, we can also print this page as a PDF. Useful for clients, but also useful internally. If you're wanting to share this these insights, these high level changes, just one additional, document or item that can be used for either yourself or your clients, but that can be printed off from here as well. And we also have, again, the states can be included here too. Again, your primary state is also available as an option here. Once we're satisfied with this review process, now we can go to the client report itself. And the client report's broken up into two sections really, the proposal, which is what we're seeing now, and the tax plan, which is more of the full tax plan. The way that I've described this in the past past is that the proposal is maybe something we can share with clients as a incentive. Notice we have the estimated tax play payment plan here as well. For federal and state, we have some estimated savings. And it will if you have any any amounts being invested that you'll have savings, what is your ROI? In this case, the strategies we've picked looks like it'll save them a little over 15,000, but it doesn't require any investment. So the ROI is, you know, it's one of those situations where mathematically there's what's the ROI on zero? We get into that pick pick whatever number you want, infinity. But, anyway, you're basically having a $15,000 savings for a $0 investment. So there you go. That's the savings you have. But that will calculate if it does require them to have, you know, out of pocket investment, out of pocket towards any of these strategies. It will let them know that, you know, spend x dollars, save this many dollars. And it gives them a way to review potentially what you can provide them without getting the full details yet. So for some firms, they like this as a review. This may be something that's sent out as a pre work. So before you this may be based on what you know right now and then maybe through meeting with your client, getting further information, what's changing next year, then they can you can provide more of that full tax plan. And the tax plan is going to give some of the same details as the proposal as far as being able to see what's in the plan, but this includes more of the actionable items and what your client should do. So it's gonna give them here are the next steps. It also starts with a disclaimer, which is pretty critical in any advisory services. It gives them that summary information. But then it's also gonna take all of their strategies, lay them out for them, and give them details around that strategies. This is where we see those insights, those instructions for your clients. But then the actionable items, what do they need to do next? What needs to happen here for any of your strategies that you have added? This is where it becomes extremely beneficial because you're not just saying, oh, yeah. If you do this, you could save this amount of money. That's great to know, but I also need you to do certain things so that we can actually achieve these strategies. That's what this how to get started, how this section is laid out. Now all this is generated by default. That doesn't mean you have to keep with what has been generated by default. We're going to allow you to edit or customize this just like we saw in the estimated plan, where you can edit this content. So maybe you want to call this something different. Maybe you're wanting to shorten things out, right, maybe a little more personalized on that, or maybe you wanna get something more specific. Maybe it's not as just a a visual thing or preference. Maybe you're wanting to include more specific instructions or change the wording. So you can edit these fields to have it say what you need it to say. Maybe include an additional step, some more instructions that you wanna have included in any of these strategies. Maybe you're wanting to adjust these insights that are presented on the screen. All of that is available to you if you wanna make any of those adjustments, any of those, tweaks to this report. And just like we saw in the estimated plan, if you wanna reorder any of these pages, you can click to drag so that you change where these pages appear, and you can customize just like before your logo, or choose to include it or not, as well as the colors of the, the formatting that you want. This can be customized too. So if you have a particular color that your firm, is associated with, your branding guidelines, if you have those, you can adjust it to be color. We do have some of the default themes you can pick from, but notice you can have really a large number of custom themes to be used as well. This just helps it to get more personalized, more customized to you and your firm and for your client as well. No. Let's save it. I like the blue color. We'll keep it blue. From here, after we have our proposal or tax plan again, just like we saw, you can then download this client report and share it with your client as needed. That may be through something like Intuit link. It could be email, or another portal. I generally recommend against just emailing things. You can do it, there's nothing inherently wrong with that, but I recommend using this client portal. Something like Intuit link would be great or your own way to share documents or even just printing out that PDF if you're meeting with your client, if you're meeting them face to face and delivering that. You know, traditionally, old school, hand paper, that's fine too. The final piece before we jump out of here is just wanted to know that there are notes. So if you're wanting to add notes to this, maybe as you're having conversations with your client as more than one person is working within this tax plan for the client, you may wanna include different things, different notes. These will be time stamped. They'll have a title. Notice you can insert images, insert files directly here, and also format this into a list, checklist if you want and have kinda some of those word editing options as well. You can also bookmark any notes. So if you wanna have certain notes be towards the top, you can do that as well. So that helps keep some information side by side if you're working on this and wanna have those notes available. For yourself, that's always helpful, but also especially for anyone else that's working in this return as well. There we go. I think that's a good, starting point. Again, not necessarily beginning in comprehensive. There's a lot to look at as far as, you know, some of these custom strategies, how to look at certain things, like, if you wanna see more details on projecting for next year's w two income, converting to an s excuse me, a schedule c to an s corp, basis tracking, biz income, all of those resources. There's a lot more to be unlocked here inside of Intuit tax adviser, but that hopefully gives you at least the baseline understanding of whether you're creating an estimated plan or a full plan, you have your baseline amount that's brought over from a return, you can make any tweaks, adjustments, add activities, remove activities from that baseline, And then for the full plan, you can decide which strategies are applicable, add your own, even the ones that maybe weren't suggested, and then see that report to further customize it, edit it, and prepare that for your client that will give them details on what their ROI is, what their savings are, as well as what they need to do to accomplish it with those actionable steps, with those what's next, those details to actually take your advice, your advisory guidance, and put it into practice. Okay. Let's continue on here. Our next polling question is, do you communicate tax savings by strategy to planning clients? Yes, no, or not sure. Sometimes. Again, take a moment here to answer this question. Do you communicate tax due by strategy to planning clients? A lot of firms that I talk to, they do advise your planning if they don't offer it or include it on their list. They answer those questions. Right? Their clients call in and wanna ask about a a home, an investment home, or selling the selling something, selling stock, assets, whatever. They wanna know what their tax liabilities are. So oftentimes, there is some tax planning, track tax advisory that you're providing clients even if it's not a service you're billing separately for or bundling with your services. But do you actually communicate those tax savings by the strategy themselves, by each separate strategy to clients? So that's what this question is asking. Perfect. We'll wrap this one up here in five, four, three, two, and one. So kind of our home stretch here as we wrap things up, we wanna talk about the strategies. Now this includes strategies that are found inside of Intuitational. We looked at some of them. But just for you to have this again as a resource and to show them here, here's the list of strategies. Again, this is constantly being expanding. We're adding strategies, strategies that are being suggested by yourself, by your fear by your peers. These are the strategies that we have currently inside the program. So you can see entity selection, a popular one, expense shifting, income shifting, charitable contributions, business expenses, all of those types of strategies as well as retirement plans, tax credits, very popular, and custom strategies. So we have some custom strategies you can see here are some of the most commonly used strategies for firms. Again, we'll start to add those and ship those into the prebuilt strategies. But if you're wanting to add custom strategies, you most definitely can do that. You have the flexibility to have that. Once you've added them, you're not gonna have to add them for each client. They'll be available across any client that you wanna use that strategy for. They are unlimited, so so there's nothing that's gonna limit you from using them, and it allows you to better apply your expertise, scale what you're offering, what you're providing, to a more wide range of clients. Maybe some of those clients are a specific category that don't fit. All the predefined strategies would have a specific strategy you'd like to apply to them. It lets you fit and make this more customizable to fit the needs of your firm and your clients. Here are some examples that you may want to create. Again, we're aware of these, so it's not unlikely that we'll have these inside the program, full stop in the near future. But for now, here are some popular custom strategies. And as we wrap things up here as we've looked it into tax advisor, I wanted to mention while, again, this is something included with Lacert, I know that some of you some firms shifting to or using a tax advisory tool like in tax adviser, that's not too bad. Shifting into something like Lacert or ProConnect tax so that you can use Intuit tax adviser can be a little bit more daunting. So if you have a question, wanna talk to our team about Intuit tax adviser, especially of transitioning or or migrating to Lucerne or ProConnect tax, Feel free to answer yes on this polling question here. That'll let a member of my team, our sales team, our consultants reach out to help address that. I know price is a conversation. I know conversion's a conversation. That's something we can have with you, and that's probably better more done as a one on one conversation with your firm to make sure, first of all, we love that you love advisory, that you wanna use into tax adviser. We also wanna make sure it's the right fit for you, and it's gonna fit the needs of your firm and your clients. That's what this entire conversation is about. I won't hold it against you if you say no here, though, but I wanted to give anyone an option that wanted to have a deeper conversation the chance to do so. So if you if that's you, hit yes here. If not, we're gonna move right along and wrap things up. A few final pieces here. You can find more help in our accountants support page as well as our community, to ask questions, and find answers to how do I type content, how do I enter this, how do I complete this. If you would like to learn more about Intuit solutions as well as thought leadership topics around tax law advisory, etcetera. You can definitely find those in the education center and the tax pro center, both linked here, again, in the handouts. And that'll be kind of our final step here, wrap up. Just a reminder, if you've met the requirements for CP, you'll receive that email very soon. Make sure if you haven't already complete that survey. It should have popped up. It may still be up on your screen, and we appreciate you completing that. And also download. Save those handouts. As I mentioned, the links included with these handouts will be very beneficial to you going forward. You can call you can refer back to. And if you want, just open them, bookmark them, and you can forget about the PowerPoint deck. But I would say, if anything, download these presentation slides for those URL links that will have those guides for Intuit tax adviser, Lucerne tax planner, the knowledge base, all of those different links included. So thank you so much for being here with me today. I hope it provided some insights on how to use Intuit tax advisor and for tax planning and advisory as a whole. And, until next time. Bye for now.