We’ve added a new feature to AdviserGo for U.S. users that improves tax planning visibility and control. You can now view and manage Tax Credits and Tax Deductions directly within the Taxes & Other Financial Information section of a client’s plan.
This update gives advisers and clients a clearer picture of how credits and deductions affect overall tax liability and net income, making it easier to explain and refine your tax strategy.
What’s New?
In the U.S. version of AdviserGo, you'll now see a dedicated Tax Credits & Tax Deductions panel. This feature lets you choose whether to apply the standard deduction or itemized deductions to your client’s plan, helping tailor the approach to their specific tax situation.
Want to learn how to apply the standard deduction in a client plan? click here.
How to apply itemized deductions
Select Taxes & Other Financial Information from the dashboard
Click on the Client:
Scroll down or expand the section labeled Tax Credits & Tax Deductions
Next, you can enter the appropriate tax information:
(By default, if you do not select a state, the tax bracket will reflect the Federal rate)
TIP: Make sure you have a State of Residence entered in this section if you want State taxes to apply to your client's plan.
To add a Tax Deduction, select the (+) sign:
Then, enter your Tax Deduction and select "Done":
You can opt to make this a state-level deduction by turning off the "Is this a Federal Tax Deduction" Toggle.
You will now see your Deduction here:
To add a "Tax Credit", you will follow the same guide as above, just using the "Tax Credit" option: The annual breakdown of "Federal Tax Deductions and Credits" is located in Year View, under "Federal Taxable Income " :
The annual breakdown of "State Tax Credits and Deductions" will be listed in the "State Taxable Income Section."
Tips for Use
- Use the “Year View” under Taxes > Details to see how these tax figures impact annual income and taxes owed
- Compare scenarios with and without deductions/credits to demonstrate tax efficiency
- Export reports to share year-by-year breakdowns with clients or other professionals (e.g., CPAs)
Here's an example of the Dashboard > Details > Taxes view: