Tax Planning Opportunities with CCH Axcess iQ

Tax season is nearly upon us and there’s so much to plan for! The diverse range of compliance issues staggers the imagination. And the risk of something slipping through the cracks is becoming greater and greater. The specific needs of each of your clients provide you an opportunity to engage with them for additional revenue-generating engagements. These tax planning opportunities may also provide a higher level of customer service and a platform for your firm to engage with clients on an advisory basis, rather than in the reactive mode that characterizes the increasingly commoditized tax preparation market.

CCH Axcess iQ provides you the content, tools and data you need to quickly and efficiently engage with your clients. When the system identifies important tax events or tax planning opportunities, Wolters Kluwer tax editors provide in-depth analysis. It also includes a client letter that you can use to take action with clients that iQ has identified as likely to be impacted. 

The new Client Dashboard provides quick insights

During tax planning season, you can also view iQ events in the Client Dashboard. Instead of reviewing tax events on a firm-wide level, now you can view only those events pertinent to a specific client. For those times you need quick insight into the issues that impact a single client, iQ makes it easy to provide the best advice.  

CCH Axess iQ recently added several new tax planning opportunities, including: 

  • Alternative Minimum Tax For Individuals. A thorough analysis of your client’s current and projected tax situation could minimize or eliminate their exposure to AMT liability. However, tax planning should not focus solely on eliminating AMT liability. Due to the complexity of the interrelationship of the AMT and regular tax systems, concentration on lowering minimum tax liability alone could easily result in an unwanted increase in the taxpayer’s regular income tax liability. This title provides insight on how to navigate this tricky situation.  
  • Hiring Family Members. One of the advantages of someone running their own business is hiring family members, which can provide a deduction for compensation paid. When including family members in business operations, certain tax treatment and employment tax rules apply. This title explains these rules and highlights those clients likely to be impacted by them. 
  • Disabled Persons. The tax code includes several benefits for individuals with disabilities. However, your clients can’t take advantage of these benefits unless you know about them and understand their impact. This title outlines the best tax savings opportunities available for your clients with disabilities. 

Learn how CCH Axcess iQ can bring your tax planning engagements to the next level. Contact a Solutions Consultant or register for a demonstration today.  


Jonny Rector

Senior Technology Product Manager

All stories by: Jonny Rector