How To: Identify high-income clients who haven’t maxed out retirement contributions
As the year ends, tax accounting AI tools can make tax planning easier and improve financial strategies for your clients. With reliable AI tools, you can handle any situation when making tax plans for your clients in the coming year.
Using AI To Find High-Income Clients Who Haven’t Maxed Out Retirement Contributions
High-income clients benefit from maxing out their retirement contributions because it allows them to defer taxes on a larger portion of their income and lower their tax liability.
Retirement contributions also grow tax-deferred, which can significantly enhance the growth of retirement savings over time.
Tax accounting AI tools can run different tax scenarios to help you determine the most advantageous strategy for your client. This enables you to scale the personalized financial advice you provide.
How To Use TruePrep
Upload your client base into TruePrep using the “File Uploader” button.
Once your client base is loaded into TruePrep, copy and paste the prompt into the search bar: “Show me clients who have not maxed out retirement contributions this year.”
Pro Tip: Work collaboratively with your team by saving this prompt to your “Saved Prompt” list. When they log into TruePrep, they can run the search on their own and add columns to the report when they have conversations with clients.
TruePrep will auto-generate a list of your clients who haven’t maxed out their retirement contributions. Export this list using the “Export” button.
Next, use TruePrep to draft personalized, client-specific emails to send as reminders for quarterly payment check-ins. Copy and paste the prompt into the search bar: “Draft an email reminding [client name] about the tax saving benefits of maxing out retirement contributions.”
Want to learn more about using tax accounting AI tools for strategic tax planning? Check out The Tax Pro’s Guide To Q4 Tax Planning Using AI or request a demo by clicking the button below.
