QCD Pro™ FAQs

Breaking News - Read This First!

On December 20, 2019 President Trump signed into law the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019, which not only introduces changes to IRA contribution and distribution rules for 2020 and beyond, but also includes the infamous year-end “Tax Extenders,” some of which are retroactive to January 1, 2019.

Due to the fact that the 2019 Tax Extenders were enacted with just five business days remaining in the year (after nearly everyone in the country had already finalized their QCD strategies), our QCD Explorer, QCD Navigator, and QCD Pro Web programs did not incorporate the 2019 Tax Extenders into their respective 2019 programs. Those Tax Extenders are as follows:

a) Schedule A medical deduction floor returns to 7.5% of AGI from 10% of AGI
b) Schedule A Mortgage Insurance Premium deduction returns
c) Tuition and Fees Deduction returns as an above-the-line adjustment

Our 2020 programs, which we expect to available in May, will incorporate the exciting new IRA contribution and distribution rules as well as the Tax Extenders.

I'm not technically savvy. Can I skip QCD Explorer and just let your tax professionals devise my QCD strategy?

The primary purpose of QCD Explorer is to offer users a no-cost quick assessment of their financial situation to see if and how much they would stand to benefit from the QCD. The savings help justify the cost of our Navigator and Pro services. Should you choose to skip this free assessment then as long as…

  1. your income is substantial enough that you’re required to file a tax return and you have a Fed or Fed/State tax liability
  2. you have a traditional IRA in which you are subject to RMDs
  3.  the amount you intend to donate to charity times your tax bracket exceeds $100

…then without even seeing your financial situation you would likely benefit enough from the QCD to justify the cost of our QCD Pro service, in addition to learning a lot about the QCD strategy for future use.

After trying QCD Explorer/Navigator I can see that I'm saving a lot of money with my QCD strategy. Will the QCD Pro service get me more money back?

lf there’s no change in your filing status, dependent info, income, or charitable contributions then we would expect your Fed tax savings to remain the same. You can, however, expect a more accurate state tax savings estimate should you upgrade to QCD Pro.

And oftentimes a tax professional will uncover opportunities you may have overlooked, which could change the estimate provided by QCD Explorer or Navigator. Say for example you’re in the IRMAAZone™ (aka close to realizing Medicare premium savings) or close to dropping into the 0% Qual Div/Cap Gains bracket but not sure how you can reduce your AGI further to grab the savings. A tax professional will look to accelerate a business deduction, or advise you to sell a laggard stock at a loss, etc if there’s a larger reward available in the current tax year.

We’re always striving to minimize the tax burden for our clients, so we know what to look for and what questions to ask.

I'd like to get started using the web-based QCD Navigator. What's the upgrade path to QCD Pro if I decide to have your professionals complete my QCD strategy?

You can rest easy knowing that if you pay $44.95 for QCD Navigator and later discover that you require professional assistance, you can upgrade to the $99.95 QCD Pro service by simply paying the $55.00 difference. Whether it’s because you came across a special situation beyond the scope of QCD Navigator, or your tax savings are significant enough that you can justify paying for professional guidance, or you’re in the IRMAAZone™ and want to ensure your windfall, the upgrade option is simply a click away in your member area dashboard.

Explorer and Navigator do not have the necessary fields to accommodate my financial situation. Does the QCD Pro service have any limitations as far as types of income and deductions?

Our QCD Pro service will be able to accommodate anything that can be reported on a Form 1040 and appurtenant forms and schedules.

How do I get my financial information to 1040Plus for the QCD Pro service?

Once you sign up for our QCD Pro service you’ll be presented with three different options to get your financial information to us: web data entry, secure file upload, and pdf form entry. Following is a description of each method…

1) Web data entry: If you’re comfortable with the Explorer/Navigator interface and you feel that the information you entered is an accurate representation of your financial situation, then we suggest staying with this method. Upon upgrading to QCD Pro there will be a link to our QCD Pro Web program, which is identical to QCD Navigator except that it adds a text area field to the ‘Finish Options’ tab that allows you to enter notes which you feel are pertinent to your situation. Now get this: If you are upgrading from QCD Navigator you need not re-enter all your info into QCD Pro Web – simply email us the MS Excel file that you received when you finalized your QCD Navigator results, and include any pertinent notes in your email! Our QCD Pro Web program does not permit file uploads.

2) Secure file upload: Some clients prefer not to enter 2019 data using the web interface and would rather send us their prior-year tax return along with notes for what figures they expect to change. We maintain a no-registration secure file upload site for this specific purpose which is HIPAA/Sarbanes-Oxley/PCI Compliant and allows users to enter notes as well as upload large files of different formats. The link to our secure file upload site will be in your member area upon signing up for QCD Pro.

3) PDF form entry: Our QCD Pro Forma allows clients to enter identical information that one would enter into QCD Navigator, except onto a two-page PDF form which can be edited and saved on one’s PC desktop, then faxed, emailed, or uploaded (securely, with optional attachments) to us. The link to our QCD Pro Forma will be in your member area upon signing up for QCD Pro.

The above methods are not mutually exclusive, i.e. you may use a combination of methods to communicate your pertinent and sensitive information to us.

 

When can I expect QCD Pro to begin using the new year's tax laws and rates? Should I wait for the new version to come out before I sign up?

The current program version (Tax Year 2019) will remain operational until April 15 2020 (the traditional 2019 tax deadline for most filers) so that users can use our program’s results and links to help prepare their taxes, perform “What-If” scenarios with their 2019 tax returns, etc.

The Tax Year 2020 program version will be available the following day.

If you’re reading this in 2020 there’s no reason to wait for the new version. Anyone who signs up in 2020, even if it’s on Jan 1, will automatically be migrated to the 2020 version when it goes live in April.

Which browsers work best with QCD Pro Web?

Chromium-based browsers such as Chrome and Opera have been used successfully. The Chromium-based Edge browser (not the original IE-based version) is also compatible. Firefox is compatible. Please note that with all of these browsers you may need to upgrade to the current (or near current) version to enjoy the best QCD Pro Web experience.

Apple’s Safari and Microsoft’s Internet Explorer browsers are not compatible with QCD Pro Web thus far, though we are working diligently to add these browsers to the mix.

I'm a Tax Preparer/Financial Adviser/Nonprofit Organization. Does QCDNow offer group plans?

Yes, coming soon!