Best Tax Planning Software for 2025

Why Use Tax Planning Software?

Tax planning software can help financial planners and individuals design strategies to minimize tax liabilities while maximizing savings and investment returns. The best tax planning software for financial planners offers a wide range of features, such as:

• Tax Strategy Optimization: Helps find the best tax strategies for clients, ensuring maximum tax deductions and credits.
• Tax Filing Preparation: Assists with organizing documents and preparing for tax filing season.
• Real-Time Tax Analysis: Provides insights into the tax implications of various financial decisions in real-time.
• Scenario Simulation: Lets users test different tax strategies to see how they impact their financial outlook over time.
• Comprehensive Reports: Generates detailed tax reports and projections, which are essential for both short-term and long-term planning.

By using these tools, financial planners and individuals can stay ahead of tax changes, save time, and avoid costly mistakes.

Top Tax Planning Software for Financial Planners in 2025

The following chart compares the best tax planning software for financial planners in 2025 based on their features, pricing, and user ratings. Whether you’re a financial advisor, CPA, or someone seeking to improve your personal tax planning, these tools are designed to meet your needs.

1. TaxSlayer Pro

TaxSlayer Pro is a well-established tax planning software for financial planners that helps tax professionals streamline their workflow. It offers a range of features for tax planning and preparation, including detailed deductions, credit optimization, and multi-state tax filings. TaxSlayer Pro also includes comprehensive client management tools that allow professionals to track multiple clients' tax situations simultaneously. Its affordability, combined with its robust set of features, makes it an excellent choice for individual practitioners and small firms.

2. TurboTax Business

TurboTax is a household name in tax software, and its Business version is tailored for financial planners and small business owners. This software offers tax planning software for financial planners with a particular focus on business taxes, self-employed deductions, and retirement savings. The intuitive interface and comprehensive tax planning tools make it ideal for clients who are looking to file taxes while also optimizing their tax strategies. TurboTax Business also provides excellent customer support and extensive resources for users to understand tax planning better.

3. WealthTax

WealthTax is a high-end tax planning software for financial planners, providing comprehensive tax projections and scenario analysis for individuals with more complex financial situations. This software integrates with investment portfolios, allowing users to see how different investment strategies impact taxes over time. WealthTax is especially beneficial for wealth managers and financial advisors who need to offer clients personalized tax strategies. Although it’s more expensive than some of the other options on this list, WealthTax’s ability to model different tax scenarios makes it invaluable for long-term planning.

4. H&R Block Premium

H&R Block Premium is a great choice for financial planners who work with individuals looking to optimize their tax returns. It offers excellent tax planning software for financial planners, including tools for investment tracking, retirement planning, and tax strategy optimization. H&R Block Premium’s software also integrates with major brokerage accounts to help clients maximize their tax savings. While the pricing is competitive, it’s best suited for those who need a straightforward tool for tax planning with essential features like deductions and credits tracking.

5. ProSeries Tax

ProSeries Tax is another well-known tax preparation tool that offers detailed tax planning features. This tax planning software for financial planners is best suited for tax professionals who handle a high volume of returns. ProSeries Tax’s multi-year tax planning tools allow users to project future tax liabilities based on different financial decisions, helping clients make informed choices. It also integrates with other Intuit products, making it a solid choice for users already familiar with the brand.

6. Drake Tax

Drake Tax is known for its comprehensive tax planning capabilities. This tax planning software for financial planners allows tax professionals to prepare taxes for individuals, businesses, and nonprofits. Its multi-year tax planning tools and client portal make it easy to manage clients' finances over time. Drake Tax is a good option for more complex tax planning needs and has a loyal following among tax professionals due to its reliability and robust features.

7. Tax Plan Pro

Tax Plan Pro is a tax software specifically designed for financial planners who want to offer comprehensive multi-year planning. This software provides projections based on a client’s current financial situation, helping them make informed decisions about retirement, investments, and other financial goals. Tax Plan Pro allows users to track deductions and evaluate various tax-saving strategies. It’s priced competitively, making it a good option for both new and seasoned financial planners.

8. BNA Income Tax Planner

BNA Income Tax Planner is designed for tax professionals working with clients who have complex financial portfolios. It allows users to conduct scenario analysis and projections, helping clients plan for future tax obligations. This software is ideal for individuals looking to assess how different tax strategies will impact long-term financial planning. BNA Income Tax Planner’s robust features come with a higher price tag, but it’s a great option for those needing detailed, tax-efficient planning tools.

9. Intuit ProConnect

Intuit ProConnect is a simple yet effective tax planning software for financial planners focused on small businesses and individuals. It includes tools for tax strategy development, reporting, and investment tracking, making it an excellent choice for those managing multiple clients with diverse financial situations. ProConnect also integrates with QuickBooks, making it a seamless choice for small business owners already using QuickBooks for accounting.

10. Lacerte Tax

Lacerte Tax is a high-end tax preparation and planning tool known for its comprehensive features. It offers detailed tax planning software for financial planners, with the ability to model complex scenarios and project taxes for multiple years. Lacerte Tax is ideal for tax professionals who work with high-net-worth individuals or those needing to manage intricate tax situations. Its customizable features and reliable customer support make it one of the top choices for financial planners.

Conclusion

Choosing the best tax planning software for financial planners in 2025 depends on your specific needs, whether you're a solo practitioner or part of a larger firm. Software like TaxSlayer Pro and WealthTax provides affordable, easy-to-use tools for most users, while options like BNA Income Tax Planner and Lacerte Tax cater to those with more complex tax planning needs. By selecting the right software, financial planners can help their clients optimize their tax strategies, save money, and ensure long-term financial success.