How do I get started with Tax Clarity?

Tax Clarity Quick Start

Tax Clarity Quick Start

Check out this video.

Transcription:

Hi, this is Cameron from Covisum, and today we will go over getting started with Tax Clarity.

Once you log in, you'll see the “People” page. This is where you will enter in your client's information: first name, last name, dates of birth and filing status.

In “Settings”, you will select your tax year.  You can also apply the Tax Cuts and Jobs Act 2017 and exclude Medicare premiums.

Everything is going to come from your client’s 1040 and any other schedules that they may have. You'll enter their information here under “Ordinary Income.”

Next is Capital gains.

Other Income includes Social Security and tax-free interest, above the line deductions and IRA contributions. Schedule A can be entered here as well.

Once you have the information entered, click on “See Results” and it will display your Tax Map.

Below is a button that says “Details”. Click this button to see your inputs and calculated fields.

You can also create alternate strategies by going back into your input data screen, clicking on the plus sign, give your new map a name and select create a blank one or clone the current one. As you create strategies, you can click on this dropdown to switch between or delete them. You can also rename each strategy, too. You’ll also see a side by side comparison view of each strategy that you end up creating.

Once you’re finished, click on the “Generate PDF” button to generate a report. If you have any questions regarding your case, click on the “Support” button and hit “Continue.” You will see a pop-up with our number and our office hours. If you have any questions, please give us a call. Have a great day.

Thank you.