Lacerte 1040 Tax Planner and Analyzer – What You Need To Know

Lacerte is a robust tax software solution offered by Intuit. It is one of the highest-rated tax applications in the market that is preferred by businesses of all sizes. Lacerte Tax Software is known to handle the complex returns seamlessly with the help of an extensive set of features it offers, such as:

  • A comprehensive library of over 5,700 forms
  • Automated calculations for increased accuracy
  • More than 25,000 diagnostics to check errors and omissions
  • Tools to detect missing client data

In addition to the features mentioned above, Intuit also offers one of the most efficient productivity tools: Lacerte 1040 Tax Planner and Analyzer, which integrates the tax software to increase its functionality.

What is Lacerte 1040 Tax Planner and Analyzer?

Lacerte 1040 Tax Planner and Analyzer, an add-on for Lacerte Tax Software users, is a combination of two tools – Lacerte Tax Planner and Lacerte Tax Analyzer bundled together.

These tools help add value to your services by providing insight into tax strategies and financial advice in order to enhance the customer experience. Here is a description explaining both of these tools:

1. Lacerte Tax Planner

Lacerte Tax Planner offers accurate estimates and custom plans to manage tax services for clients. It provides solutions to compare and create multiple years’ tax returns, considering current and future tax scenarios.

Features and Benefits:

Lacerte Tax Planner provides the following tax solutions:

  • Tax Planner offers automated calculations for state and federal tax liabilities, alternative capital gains, farm income averaging, tax phase-outs, and more.
  • It helps generate four types of plans to file complex returns with ease:
    • Year/case analysis
    • Difference analysis
    • Married Filing Jointly/Married Filing Separately comparison
    • Adjustment analysis
  • One can present and communicate the desired plans using custom graphs, reports, and letters.
  • It features a user-friendly interface that provides quick access to system functions through a pop-up menu at the top of the main screen called Client Screen.
  • Lacerte Tax Planner runs diagnostic tests to red flag any potential errors or omissions that further improves the accuracy rate.
  • It offers customizable reporting, wherein several variations are available that enable users to choose reporting filters from the list of available items. Fonts and background color can be changed easily and previewed before final processing.
  • It also allows users to project W-2 amounts to clients with the help of the W-2 projector.

Integration Capability

Lacerte Tax Planner is a stand-alone product that can easily integrate with most of Intuit’s products including, Lacerte professional tax software application, QuickBooks (Pro, Premier, Enterprise, and Online), and Lacerte Document Management System.

Furthermore, client data can easily be exported to 1040 individual files in Lacerte that is updated in the Tax Planner in real-time. It reduces the chances of errors for a better tax filing experience.

2. Lacerte Tax Analyzer

Lacerte Tax Analyzer comes bundled with Lacerte Tax Planner. It is designed to craft advice based on individual tax scenarios and help minimize liability or chances to trigger audits. It offers a detailed analysis of the client’s current tax status, along with the impact of new tax reforms.

Features and Benefits

Lacerte Tax Analyzer offers the following tools and features to streamline tax-related tasks:

  • It offers a tailored analysis to understand the impact of tax regulations and changes on the clients’ financial health.
  • Tax Analyzer also consists of automatic indicators to “red flag” any amount exceeding the national average.
  • It covers topics that include current and future tax implications. It also consists of relevant tax and compliance tips, along with the social security section.
  • Lacerte Tax Analyzer also helps track down the source of any information through hyperlinks to the publications and other resources. To access the information, click the More Info icon under the required field.

Integration Capability

Similar to Lacerte Tax Planner, Tax analyzer can integrate with Intuit’s products including their popular accounting software, QuickBooks. All the financial data can be easily imported from the accounting application into the software to reduce manual data entry tasks.

The Tax Analyzer also integrates with 1040/individual files in Lacerte tax software. It further links to the input field of the applicable tax form for easy reference.

In a Nutshell

The combination of Lacerte Tax Planner and Lacerte Tax Analyzer, known as Lacerte 1040 Tax Planner and Analyzer, is a one-stop solution that provides required features to become a trusted tax expert and serve clients better.

In order to add value to the tax services, Lacerte 1040 Tax Planner and Analyzer offers custom tax services, graphs, and reports using current and future tax rates.

To know more about such solutions that can ease your tax-related tasks using Lacerte Tax Software, contact our Solutions Consultant at 855-980-2150.

About Julie Watson

Julie is a dynamic professional with over 16 years of rich experience as a VDI and Application Hosting expert. At Ace Cloud Hosting, she humanizes disruptive and emerging remote working trends to help leaders discover new and better possibilities for digital transformation and innovation by using cloud solutions with an enterprise-class security approach. Beyond work, Julie is a passionate surfer.
On the weekend, you will find her hanging out with her family or surfing around the North Shore of Oahu.

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