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TaxWise®

Brand: Wolters Kluwer

4.8

2 Ratings & 2 Reviews

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Features

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TaxWise® Features

Tax Preparation & Filing

Direct Deposit Options for direct deposit of tax refunds into bank accounts.
Federal & State Tax Filing Preparation and electronic submission of federal and state tax returns.
Return Preview & Validation Review and validation of tax returns before submission to check for errors or omissions.
e-File Support Direct electronic submission to tax authorities.
Tax Extension Filing Assistance in filing for extensions when additional time is required.
Automated Form Filling Auto-population of tax forms using imported data to minimize manual entry.
Multi-Year Filing Capability to file returns for multiple tax years, including prior periods.
Real-Time Calculations Instant updates on tax liabilities or refunds as data is entered.

Income & Deductions Management

W-2 & 1099 Import Importation of income data from W-2 and 1099 forms.
Self-Employment Support Management of income and expenses for freelancers and independent contractors.
Charitable Contributions Tracking and application of deductions for eligible charitable donations.
Dependent Credits Calculation of credits and deductions for dependents.
Investment & Capital Gains Reporting Calculation of taxes on investment income, including stocks and bonds.
Rental Income Management Handling of income and deductions related to rental properties.
Medical & Educational Expenses Management of deductions related to medical costs and educational expenses.
Retirement Income & Contributions Handling of taxation on retirement income and contributions to retirement accounts.

Compliance & Audit Support

Automatic Updates Incorporation of the latest tax law changes automatically.
Error Checking Identification of errors with accuracy guarantees.
Audit Assistance Provision of support and guidance in the event of an audit.
ID Validation Verification of taxpayer identification numbers.
Tax Law Compliance Ensuring adherence to current federal and state tax regulations.
Audit Risk Assessment Evaluation of the likelihood of an audit based on return data.
Self-Employed & Gig Worker Compliance Ensuring proper reporting for self-employed individuals and gig workers.
Nonprofit Support Features tailored for non-profit organizations.
Franchise Tax Compliance Assistance with state franchise tax requirements.

Business & Enterprise Features

Business Tax Filing Preparation and filing for various business structures (C-Corp, S-Corp, LLC, Partnerships).
Asset Depreciation Calculation of asset depreciation and tracking of fixed assets.
Payroll Tax Management Calculation and reporting of payroll taxes.
Sales Tax Management Calculation and tracking of sales and use taxes.
Multi-State Support Handling of tax filings for businesses operating in multiple states.
International Reporting Management of reporting requirements for international transactions.
Nexus Management Identification of tax obligations based on business presence in various jurisdictions.

Integration & Automation

Third Party Integration Connections with additional third-party applications for extended functionality.
E-Signature Integration Support for electronic signatures on tax documents.
Financial Data Import Importation of financial data directly from banks and brokerage firms.
Accounting Software Integration Seamless integration with accounting platforms like QuickBooks.
Estimated Tax Automation Calculation and scheduling of estimated tax payments.
API Integration Customization and integration capabilities with other software systems.

Security & Data Protection

Data Encryption Protection of sensitive information through encryption.
Two-Factor Authentication (2FA) Enhanced security with an additional verification step.
Role-Based Access Control (RBAC) Role-based access to prevent unauthorized modifications.
GDPR and CCPA Compliance Adherence to data protection laws like GDPR and CCPA.
IRS Security Standards Compliance with IRS regulations for secure electronic filing.
Data Backup Automatic backups and data recovery options.
Fraud Protection Implementation of multiple measures to prevent fraudulent activities.

Analytics & Reporting

Customizable Reports Generation and export of detailed tax reports tailored to specific needs.
Cryptocurrency Reporting Calculation of taxes on cryptocurrency transactions.
Tax Planning & Forecasting Provision of future tax projections to assist in planning.

Others

Document Management Organization and storage of tax-related documents with cloud storage options.
Team Collaboration Support for multiple users, such as accountants and team members, to work on the same tax return.
Paper Filing Option to print and file paper tax returns for users who prefer manual filing.

Brand Name	Wolters Kluwer
Information	Wolters Kluwer provides its clients with information services and software solutions.
Founded Year	1922
Director/Founders	Gijs Braakman, Kluwer Samsom
Company Size	1000+ Employees
Other Products	Enablon EHS