BNA Income Tax Planner

Overview

The software brings tax calculations, scenario planning, data imports, and client-ready materials into one workflow. Its focus is professional client service rather than do-it-yourself tax filing: it helps an adviser model possible outcomes and explain them, not simply prepare a return.

Planning can cover year-end, quarterly, and multiyear periods, with projections extending up to twenty years. Side-by-side comparisons make it practical to show how different choices affect a client’s projected tax position. That range is valuable for advisers handling complex, longer-horizon decisions, though it may be more than a practitioner needs for occasional or basic tax planning.

Key features

Projection and tax calculations

Automatic calculations cover federal, state, and nonresident income taxes, including alternative minimum tax, capital gains, phase-outs, and carry-overs. Bloomberg says expert analysis and current tax law updates are applied automatically. Together, these capabilities support detailed planning across jurisdictions and tax factors without requiring the adviser to build each calculation from scratch.

Retirement income modeling and capital gains modeling are among its capabilities, alongside multiyear projections. The software’s breadth is a strong fit for advisers who need to explore multiple tax-sensitive scenarios; readers who need only a simple estimate may find a dedicated planning suite difficult to justify.

Client workflow and safeguards

Integration with commonly used tax preparation software lets professionals import client data, reducing repeated entry and the risk of transcription errors. Ready-to-use letters, graphs, and reports help turn projections into material for client discussions. Bloomberg also offers customized training led by accountants and CPAs, a useful onboarding option for firms adopting a specialized workflow.

Sign-in supports phone or authenticator-app verification, with an option to trust a browser for 60 days. Bloomberg Industry Group’s Trust Center includes SOC 1, SOC 2, GDPR, and CCPA resources and identifies Income Tax Planner Web as a product. These are relevant safeguards and compliance resources for firms assessing a client-data tool.

Pricing

Income Tax Planner has custom pricing; prospective customers can request pricing or a demo. There is no free plan, so an individual adviser or small practice cannot start with a free tier to assess whether its projection depth fits their work.

That request-first approach makes sense for a professional product whose fit may depend on a firm’s needs, but it leaves buyers unable to compare cost upfront. Phone support runs Monday through Friday, 9:00 a.m.–7:00 p.m. ET, except federal holidays; email support is also available.

Platforms

Income Tax Planner is available on web and Windows. The web sign-in page also provides a software download link, while phone and authenticator-app verification provide sign-in options.

Who it's for

This is best suited to accountants, financial advisors, and other professionals who provide tax planning services to clients. It is particularly well matched to work involving state or nonresident tax, capital gains, retirement income, or comparisons over several years. The import and reporting features support an adviser’s client workflow as well as the calculations themselves.

It is a weaker fit for consumers seeking self-service tax filing, for advisers who only need occasional basic projections, and for buyers who require a published price or free tier before considering a product.

Pros and cons

• Pros: Projections span year-end through twenty years, with side-by-side comparisons, making longer-term strategy discussions more concrete.
• Pros: Federal, state, and nonresident calculations include several important tax factors, while automatic updates help keep calculations aligned with current tax law.
• Pros: Tax-preparation imports and ready-to-use client reports support an end-to-end adviser workflow and can reduce manual data entry.
• Cons: Custom pricing and no free plan make it difficult for smaller practices to evaluate cost before contacting Bloomberg.
• Cons: Its professional planning focus and broad feature set are likely unnecessary for people who only want straightforward personal tax estimates.

Alternatives

Tax Planning Software is the place to compare more options across the category. CFS TaxTools is worth considering for Windows users who want a free trial and a paid Pro plan listed at 19.92 USD per month, billed by subscription paid up front, typically for 12 months; its plan includes 300+ tax utility worksheets, forms, and a tax planner, with two free concurrent users.

Dhanlytics is a web-based alternative for buyers seeking a free tier: its plan is free, described as 100% free with no credit card required, and includes all features with a core planning tool free. Holistiplan may suit advisers evaluating a different paid tax-planning option; its Basic Tax plan is 749.00 USD per year, billed annually, and starts at 30 households, up to 750 households.

Catalyst Tax Insights is an option for personal use, with a free-forever Personal plan for generating tax insights and comparing scenarios; its Plus plan is 49.00 USD per year. Hazel AI Tax Planning is a web alternative with a Tax Planning Agent plan at 160.00 USD per month per seat, including client-ready tax planning reports and multiyear tax strategy modeling.

Tallyfor TaxCalc, Corvee Tax Planner, and TaxPlanIQ are other paid options. TaxPlanIQ lists a Basic plan at 397.00 USD per month, starting at that price, with 12 tax plans a year, one user, tax projections, scenario modeling, entity comparison, a jAIne AI assistant, and Interactive Discovery.

Verdict

BNA Income Tax Planner is a strong choice for tax professionals who need detailed, long-range projections and polished client-facing explanations in the same workflow. Its broad tax calculations, imports, and reporting tools are the main reasons to choose it. Look elsewhere if you need a free starting point, a clearly published price, or a simpler tool for basic personal estimates.