Discussion ongoing
Functionality to quickly determine tax savings from IRA contributions
It would save a great deal of time if Proseries had the functionality to quickly/easily determine the max IRA/Roth/SEP contributions a taxpayer could make AND show the corresponding tax savings (fed and states) at various contribution levels. I'm sure the current manual process using worksheets could be automated which would provide a time savings for preparers and a monetary savings for happy taxpayers.
My clients love when I can tell them a $X IRA contribution will save you $Y in taxes this year. Calculating the $Y takes a few minutes going back and forth between the returns and jotting down the savings somewhere like in the comments field.
