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Tax Clarity Reviews & Product Details

Tax Clarity can help you quickly identify sub-optimal tax situations and show clients how to make retirement decisions in the most tax-efficient way. Calculate your client's effective marginal tax rate and identify dangerous points where just one additional dollar of income can push clients into much higher effective marginal tax rates. Use Tax Clarity during every annual client review meeting to look at the tax landscape for any given year without creating a new case. Easily show the tax impact of different plan decisions. Compare different withdrawal strategies on-screen and save and communicate the results with your clients.

Seller

Covisum

Discussions

Tax Clarity Community

Languages Supported

English

Overview by

Katie Godbout

Pricing

Pricing provided by Tax Clarity.

Monthly

$79.99

per month/per advisor

Yearly

$899

per year/per advisor

View More Pricing Information

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Tax Clarity Media

Any changes that are made and saved will bring up a Change EMR to the Tax Map and seeing the details below will give a comparison between the Base Case and Scenario One.

Tax Clarity Demo - Tax Clarity Allows Users to Create Multiple Scenarios

Use Tax Clarity during every annual client review meeting to look at the tax landscape for any given year without creating a new case. Easily show the tax impact of different plan decisions. Compare different withdrawal strategies on-screen and save and communicate the results with your clients.

Select manual data entry or import from Redtail.

Enter client income sources from the 1040. You can apply the Tax Cuts and Jobs Act of 2017, display new tax forms help text and exclude Medicare premiums. Enter in any dependents if applicable.

You can use this Tax Map to identify tax opportunities and view the Base Effective Marginal Rate (EMR). The red bar represents the regular tax brackets and the gray represents the effective marginal tax rate. Click on “Details” to see a detailed look of what the Tax Map is showing. Click on th...

Any changes that are made and saved will bring up a Change EMR to the Tax Map and seeing the details below will give a comparison between the Base Case and Scenario One.

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Jody D.

CEO/ Financial Advisor

Small-Business (50 or fewer emp.)

7/28/2022

"Adding Value"

3.5/5

What do you like best about Tax Clarity?

Being able to talk about the benefits of a Roth conversion and then to use Tax Clarity to identify the proper dollar amount to convert is very powerful. Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

It does take a little time to imput all of the data. Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Jody,

Thanks for leaving a review of Tax Clarity. We're thrilled that the software is helping you demonstrate the benefits of Roth conversions and determine the appropriate amount to convert. We appreciate your feedback.

Gregg M.

Founder and President of Gmac Family Financial

Small-Business (50 or fewer emp.)

7/20/2022

Business partner of the seller or seller's competitor, not included in G2 scores.

"I love how easy it is to work with"

5/5

What do you like best about Tax Clarity?

Showing the Tax charts. then use different plans to show if we do this how this will affect your taxes Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

Sometimes it is hard to know where to enter numbers from the client's tax return Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Gregg,

Thanks for writing a review of Tax Clarity. We love that you're using the software to demonstrate the value of smart retirement tax strategies, including Roth conversions. We greatly appreciate your feedback!

Lynn B.

Owner/Financial Advisor

Small-Business (50 or fewer emp.)

7/20/2022

"Simple input, easy to show to a client or potential client."

5/5

What do you like best about Tax Clarity?

The software is easy to use and shows a clear picture of a client's tax liabilities from withdrawing various amounts from qualified accounts.

Customer support is excellent. Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

I can't think of any downside of using the software. Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Lynn,

Thank you for taking the time to leave a review of Tax Clarity. We're thrilled to hear that you've found the software easy to use and our live expert customer support team helpful! We really appreciate your feedback.

Chad W.

LPL Registered Principal

Small-Business (50 or fewer emp.)

2/15/2022

"Taxes Matter even in Retirement"

5/5

What do you like best about Tax Clarity?

Easy way to show clients and prospects clear tax inefficiency's and help them visualize how we can help their tax situation. Prospects realize pretty quickly that they can't do this kind of planning without us and our tools. Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

The software does have a learning curve, but once I got it, it has been invaluable in landing larger accounts where taxes make a big diffrence. Review collected by and hosted on G2.com.

What problems is Tax Clarity solving and how is that benefiting you?

I combine Tax Clarity with Social Security Timing to help clients and prospects take a holistic approach to retirement. Retirement Account withdrawals can affect taxes on Social Security, and withdrawals from Social Security will help determine how much taxes they will pay on Retirement Account withdrawals; they are interconnected. Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Chad,

Thank you so much for leaving a review of Tax Clarity. We're thrilled that the software has helped your clients clearly visualize their tax situation. It's great that Tax Clarity makes it easy to demonstrate the value you're adding to their retirement, and we love to hear that you're combining Tax Clarity and Social Security Timing to help clients make smart financial decisions. We appreciate your feedback.

Wendell B.

Principal

Small-Business (50 or fewer emp.)

2/24/2022

"Great Program"

4.5/5

What do you like best about Tax Clarity?

Tax Clarity helps me present a client's tax circumstance clearly and understandably. It provides them with the information necessary to help them make financial decisions to their benefit. Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

It would be nice if it could handle rental income too.

The continuous barrage of emails to take a survey! Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Wendell,

Thank you for taking the time to leave a review of Tax Clarity. We're happy to hear that you've found the software helpful for demonstrating the tax impact of different financial decisions. I'll pass along your suggestion about rental income to our development team, and we appreciate your candid feedback on the frequency of survey-related emails.

Robert T.

Senior Managing Partner

Small-Business (50 or fewer emp.)

2/15/2022

"Great visual software"

4/5

What do you like best about Tax Clarity?

Easy to input data and very good visual illustrations that clients can understand. I really like the ability to compare scenarios. Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

I wish it had illustrated ROTH conversion features. Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Robert,

Thank you for leaving a review of Tax Clarity. We're happy to hear that the software graphics have helped you communicate the value of a good financial decision. If you're interested, our Income InSight software can illustrate the impact of a Roth conversion. Learn more here https://www.covisum.com/solutions/income-insight/tour

Thanks for your feedback!

Verified User in Financial Services

Small-Business (50 or fewer emp.)

11/12/2020

"Excellent tool for retirement planning."

5/5

What do you like best about Tax Clarity?

Calculating a prospects taxes in retirement. Showing how Roth IRA conversions can lower their taxes. Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

I used to be able to show current and recommended tax analysis in one report, and now I can't. Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Thanks for taking the time to review Tax Clarity. We're happy to hear that the software has helped you demonstrate the benefits of Roth conversions. I'll pass along your note about including both the current and recommended tax analysis in one report to our customer experience team. We greatly appreciate your feedback.

Art S.

financial advisor

Small-Business (50 or fewer emp.)

11/12/2020

"clients love it!"

5/5

What do you like best about Tax Clarity?

Easy to use. it takes into account all the tax ramifications, such as social security taxation Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

Graphs take a lot of explanation for clients to understand Review collected by and hosted on G2.com.

Recommendations to others considering Tax Clarity:

It provides everything they promised. Support has been excellent. I would recommend it highly! it gives me a way to show clients the tax issues involved with proposed changes to their financial situation. it is one of the few that shows social security tax changes and more subtle ones, like Medicare. When i compare to their actual tax returns, i find it to be extremely accurate. Other programs i have tried gave me substantially different numbers. Review collected by and hosted on G2.com.

What problems is Tax Clarity solving and how is that benefiting you?

Tax ramifications of implementing options. Often, there are surprises that would have had a client make a different decision Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Art,

Thank you so much for taking the time to leave a review of Tax Clarity. We're thrilled you've found the software easy to use and helpful for showing clients tax opportunities in retirement. We really appreciate your feedback!

Adam S.

Small-Business (50 or fewer emp.)

11/12/2020

"Huge fan of Tax Clarity"

4.5/5

What do you like best about Tax Clarity?

My favorite feature is the visual map of the marginal/effective tax rates. After entering my client's data, I'm able to see how close we are to the next bracket. This allows me to make assumptions about possible tax loss harvesting, tax gain harvesting, ROTH conversion, strategic IRA withdrawals, etc. Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

I wish there was more transparity in the data. I love how the program tells me that even though their marginal bracket is 12%, the next dollar of income generated would be taxed at an effective rate of 27%. Conceptionally I understand why, but I would like to see the data behind that answer. Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Adam,

Thanks for taking the time to share your thoughts about Tax Clarity. We're so happy to hear that you've found our unique Tax Map feature really helpful for visualizing potential strategies. I'll pass along your note about including additional data in the future to our software development team. We greatly appreciate your feedback.

Adam T.

Small-Business (50 or fewer emp.)

11/13/2020

"Tax Clarity has been amazing"

5/5

What do you like best about Tax Clarity?

I use tax clarity everyday, multiple times per day when I meet with clients. it helps so much for providing advice and allowing me to look as professional as I possibly can Review collected by and hosted on G2.com.

What do you dislike about Tax Clarity?

It is very easy to use. Not much to dislike. Review collected by and hosted on G2.com.

Recommendations to others considering Tax Clarity:

Use it. it is very helpful. many advisor or even CPA's don't use a software like this and it helps to set you apart as an advisor or consultant. Review collected by and hosted on G2.com.

What problems is Tax Clarity solving and how is that benefiting you?

I don't think I'm able to give good investment advice without running a tax analysis so Tax Clarity allows me to give good advice. my clients love it because it allows them to easily see where they are at and where they might be in the future. Review collected by and hosted on G2.com.

Response from Katie Godbout of Tax Clarity

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Hi Adam,

We're thrilled to hear that we've become an integral part of your practice and that the software has helped set you apart from the competition. We really value your feedback. Thanks for the review!