TaxWise - Solutions for the Tax & Accounting Professional
  Solutions for growing tax and accounting firms
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TaxWise Features

  • Stay informed during tax season — The latest news from our Customer Support team can be viewed right on the home page of the TaxWise program.
  • Easily update the tax program and forms using menu options within TaxWise. Or schedule updates to be downloaded and installed during off-hours, when it won’t interfere with business.
  • Safely deliver completed returns directly from TaxWise to the client’s secure folder in PortalSafe™, our cloud-based document sharing system. Your client receives an automatic email with instructions for viewing and downloading the tax return. (Requires a PortalSafe subscription)

  • Prepare returns without a mouse by using quick keyboard shortcuts or use the mouse to take advantage of toolbar buttons and right-click pop-up menus.
  • "Link" to supporting forms using the QuickLink™ feature OR open forms directly from the "Find a Form" screen.
  • Easily adjust the size of on-screen form text
  • Open multiple instances of TaxWise, allowing you to view more than one return at a time
  • Pre-load the most commonly used forms and preferences so you only have to do it once.
  • E-file one return at a time OR multiple returns of all types together: federal, state, and requests for extensions.
  • Create returns without having the SSN or ITIN; add this information once obtained.
Instant Error Checking — TaxWise checks for errors in three ways:
  • Keystroke-by-keystroke
  • Entry-by-entry
  • Entire return
Automatic Fill-Ins
  • ZIP Codes: Enter a ZIP code and TaxWise automatically fills in the city and state.
  • EINs: Enter an Employer Identification Number (EIN) once and TaxWise stores that information and automatically completes the name and address every type you enter that EIN.
  • "Official" Entries: Drop-down lists show the IRS-acceptable entries where applicable. Type the first letter of the desired entry and TaxWise does the rest.
Color Coding — optional color coding identifies information required for electronic filing.
  • Required entries and incomplete forms are highlighted with red.
  • Entries calculated by TaxWise are highlighted with yellow. You can't type directly in a calculated entry or delete the calculated value unless you override the calculation.
Real-time Calculations
  • Calculations are made instantly with every entry.
  • There are no extra buttons to push, no need to wait for a lengthy "re-calc" process. You enter data only once.
  • Data flows automatically from supporting forms to the primary form and from federal forms to state forms.
Forms-based Data Entry
  • Our on-screen forms are instantly familiar because they are replicas of the paper IRS forms.
  • It's easy to see what the form will look like when printed and a cinch to teach your staff how to use the program.

K-1 Pass-Throughs

  • K-1 data is carried automatically from business returns to the appropriate 1040 return, assuring accuracy while saving time and keystrokes.

Business Asset Worksheet

  • Easy entry of fixed asset information.
  • Program automatically selects recommended depreciation methods based on an asset type.
  • 19 depreciation methods pre-calculated.
Customized Forms List
  • Simplify tax prep by removing seldom or never-used forms from the forms list.
  • "Use Private Forms" enables you to customize the Find a Form screen to suit your tax practice.
Comprehensive Diagnostics
  • Warnings of possible inconsistencies in tax information.
  • A list of overridden entries.
  • Electronic filing errors - The red text is a hyperlink to the form that needs correction.
  • A summary of the return, including forms to be filed, AGI, tax, refund or balance due
Online Help
  • Context-sensitive help is available for each line as you move through the forms
  • Help is just a hotkey away!
  • Press F1 for TaxWise program help.
  • Press Shift+F1 for IRS instructions.
  • Access IRS Pub. 17 and the TaxWise User Guide from the toolbar.
Built-In Data
  • There's lots of valuable data built into TaxWise, including:
    • Business codes
    • Amortization codes
    • W2 codes
    • 1099 codes
Management Reports
  • Use one of our standard reports or create your own.
  • Our open database compliant (ODBC) format allows you to track returns and analyze data using spreadsheets and reports you create with software such as:
    • Crystal Reports™
    • Microsoft® Access
    • Microsoft® Excel
Database Features
  • Track Return Status —You can quickly check the status of any return without leaving the return you are currently working on.
  • Automatic Updates — Your database is updated every time you connect to our Electronic Filing Center.
  • ODBC Compliant — Database information can be used directly by database, spreadsheet, and report writing applications.
Security Features
  • Restrict access to critical tasks such as transmitting returns and check printing with Security Manager.
  • Control which actions each person in your office can perform.
  • Pasword-protect each preparer's returns. The administrator has access to all passwords in case a password is forgotten.
  • Lock per-form prices so they can’t be accidentally changed.
Conversion Software
  • Don't worry about losing all your client data when you switch to TaxWise. Conversion software is available for most competitors’ tax programs.
  • Click here for a list of available software conversions.
3-year Summary
  • Compiles data from the client's current return and two previous returns for comparison.
  • Includes gross income, AGI, itemized deductions (with comparison to national averages), exemptions, credits, tax paid and refunds.
  • A 'get organized' tool for your client and a direct-mail promotion for your tax office.
W-4 Planner
  • Help your clients avoid a balance due by estimating next year's tax and adjusting withholding.
  • Print a W-4 form your clients may submit to employers to change withholding status, amounts and exemptions.
Carry Forward of Prior Year Data
  • Copy relevant client data from last year's return into the current return, saving time and keystrokes.
  • Bring forward taxpayer name, address, dependents, Depreciation Worksheets, capital loss carryovers, and other amounts.
  • Tax form defaults can also be carried forward from year to year so you don't have to re-type information such as your name, firm name, address, and phone.
Custom Client Letters and Organizers
  • Print a letter containing data from your client's return.
  • Choose a standard letter from the templates provided, or customize the text and create your own template.
  • Create custom organizers to mail to clients prior to the tax season. Or convert the organizer to a PDF file and e-mail it to the client.
Automatic Billing — Calculate your fees on the basis of:
  • Time working in the return, or
  • Number and type of forms and worksheets, or
  • Both time and forms.
  • Easily adjust the amount billed by a dollar amount or percentage of the total.
  • Print the invoice with the return

"What if" Mode

  • Test any number of hypothetical tax scenarios for your clients.
  • Save test scenarios for future reference or replace data in the current return with the new information.
  • Useful as a planning and advisory tool for clients who can accelerate and delay income, deductions or capital expenditures.

Married Filing Separate / Married Filing Joint status tax optimization

  • For married taxpayers, TaxWise computes federal tax liability using both joint and separate filing statuses.
  • The filing status scenario with the lowest tax is presented.
  • Preparers have the option to automatically generate separate tax returns for each spouse, as desired.

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