Everyone can now see a clearer picture of how they may be impacted by various tax plans being debated in Congress with a free version of the CCH 2013 Fiscal Cliff Estimator. The premier tool, provides a distinct tax planning advantage by comparing a taxpayer’s 2012 tax liability against various pending tax packages currently being debated. It includes the latest tax proposals from the White House and the Senate, the potential full extension of the Bush-era tax cuts, as well as their possible expiration at the end of the year.
“While everyone waits for resolution on fiscal cliff negotiations, CCH’s new Fiscal Cliff Estimator tool helps cut through all the uncertainty to paint a clearer picture of how certain scenarios may affect their tax returns,” said Cindy Kaplan, CCH Product Marketing Manager. “The Estimator is fully integrated with CCH’s latest projection and estimate data. It enables professionals to provide a tax planning advantage for their clients and also empowers individual taxpayers with an upper hand on research for planning ahead.”
How It Works
The Estimator comparison tool allows users to enter taxable income, capital gains and dividend income figures, and then select one or more of the three major plans to compare against the current 2012 tax scheme. It then provides estimated income tax figures with extensive details of each plan based on personalized inputs. The tool also organizes all the major tax topics currently on the negotiation table in a simple, easy-to-use layout.
Each tax scenario projection is also linked to CCH Tax Briefings that outline tax policies and tax planning considerations. CCH Tax Briefings explain and analyze potential tax policy impacts as well as provide summaries and comments on tax planning strategies – depending on the final outcome of fiscal cliff negotiations. Seamless content integration offers a convenient way to consolidate various scenarios – providing quick insight on tax strategies for practitioners and taxpayers who prefer to prepare their own returns.