CPA Practice Advisor

OCT 2012

Today's Technology for Tomorrow's Firm.

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Reviews For Your Firm TAX PLANNING SYSTEMS Thomson Reuters Planner CS 2012 OVERALL RATING BEST FIT Although it can be used as a stand- alone program, Planner CS provides the greatest benefit to users of UltraTax CS and other programs in the Tomson Reuters CS Profes- sional Suite due to tight integration with tax preparation, research, document management, portals and other functions. STRENGTHS r Built-in tax code for federal and all taxing states r Direct integration with tax, docu- ment management, portals 800-230-2322 CCH ProSystem fx Planning 2012 OVERALL RATING BEST FIT Professional accounting and tax practices seeking a planning system that integrates directly with Pro- System fx Tax and other programs in the ProSystem fx Suite. STRENGTHS r Direct integration with ProSystem fx Tax and Engagement r Ability to prepare up to 30 side-by- side scenarios r Intuitive spreadsheet-based inter- face 800-739-9998 TaxWorks Tax Planner 2012 OVERALL RATING BEST FIT Small tax-focused practices using TaxWorks who want an integrated tax estimation and scenario testing tool that can help clients prepare for potential liability changes. STRENGTHS r User friendly interface r Adjustable inflation projections r Affordable price-point r Direct integration with TaxWorks 800-230-2322 26 October 2012 t www.CPAPracticeAdvisor.com POTENTIAL LIMITATIONS r State support is limited to generic worksheet r Basic report customization options r Limited external integration Te TaxWorks Tax Planner system provides a simple add-on scenario testing tool that can be used to see the effects that a variety of factors would have on a client's tax liabilities for up to five years. Te program can be used as a stand-alone utility, but is primarily designed as an integrated addition to the TaxWorks professional tax prepa- ration program, and is included with the top level TaxWorks bundles. SUMMARY & PRICING Te TaxWorks Tax Planner offers a quick tax planning tool that provides projections for five years, with built-in calculations for federal tax rates, exemptions, credits and other factors, and provides a generic state worksheet that can be tailored to specific state requirements. Te system is a best fit r Automated calculations POTENTIAL LIMITATIONS r Limited integration with outside programs r Reporting output to only PDF format ProSystem fx Planning is a part of CCH's larger suite of professional tax, accounting and practice man- agement systems, of which many systems are available in web-based versions. Planning, however, is an installed program that can be used in conjunction with ProSystem fx tax and other products in the suite, or as a stand-alone program. It includes multi-year projection functions and calculations for AMT, capital gains and phase-ins and phase-outs. It includes tax rates, deductions, exemptions and credits for many states. SUMMARY & PRICING ProSystem fx Planning is a good add-on when integrated with the tax compliance system, but can be used r Comprehensive calculations and analysis features r Can produce any number of years of projections r Strong customization and graphical elements on reports POTENTIAL LIMITATIONS r Limited data integration from external programs Planner CS offers a comprehen- sive planning system that allows for the creation of any number of years of projections for individual income taxes, and offers a host of utilities and functions for finding the most beneficial taxation scenarios. Te system includes all federal and state tax codes and regulations, including phase-outs and antici- pated changes, and provides excel- lent reporting functions. Te system can be integrated with UltraTax CS and other CS Professional Suite programs for tax preparation, practice management, document management and portals for client collaboration. SUMMARY & PRICING Planner CS provides powerful tax planning tools and analysis features designed for clients of any complexity, including those with highly diversi- fied income. Te system can be used as a stand-alone program, but its exceptional integration with other pro- grams in the CS Professional Suite, particularly the tax and document storage systems, adds significant value to users of the suite. Pricing starts at $685 for the federal-only system, with states addable as needed. BASIC SYSTEM FUNCTIONS CORE TAX PLANNING FEATURES REPORTING IMPORT/EXPORT/INTEGRATION HELP/SUPPORT Read the full review of this product exclusively online at www.CPAPracticeAdvisor.com/10774156 www.taxworks.com as a stand-alone program, providing automated calcu- lations for complex scenario testing for 1040 clients of any nature. Te system costs $675 for a single user license. BASIC SYSTEM FUNCTIONS CORE TAX PLANNING FEATURES REPORTING IMPORT/EXPORT/INTEGRATION HELP/SUPPORT Read the full review of this product exclusively online at www.CPAPracticeAdvisor.com/10774139 CCHGroup.com for firms using the TaxWorks professional compliance system. It costs $495 for a license that allows use by all staff in a firm. Discounts are oſten available, and the program is included in some of the TaxWorks preparation bundles. BASIC SYSTEM FUNCTIONS CORE TAX PLANNING FEATURES REPORTING IMPORT/EXPORT/INTEGRATION HELP/SUPPORT Read the full review of this product exclusively online at www.CPAPracticeAdvisor.com/10774397 www.taxworks.com

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