Checkpoint (Thomson Reuters) Review

Bloomberg Tax is a comprehensive professional tax research, planning, and compliance platform for tax practitioners at accounting firms, law firms, and corporate tax departments. Bloomberg's entry into the tax software market (through acquisitions including Fried Frank's tax practice and BNA) has created a formidable competitor to Thomson Reuters Checkpoint. The research platform provides in-depth analysis, practice tools, and primary source materials across federal and state taxation, international tax, estate and gift, employment tax, and tax-exempt organizations. Bloomberg Tax Technology offers corporate tax compliance software including fixed assets, provision, and compliance tools. The research platform's expert analysis—written by practicing tax attorneys—provides practical, actionable guidance beyond simple statutory citations. The Portfolio series provides detailed treatises on specific tax topics for complex research. Tax planning tools enable scenario analysis and optimization modeling. Bloomberg Tax's international coverage has expanded significantly, serving multinational corporations and cross-border advisors. Integration between research content and preparation software provides in-context guidance during return preparation. Bloomberg's AI capabilities now surface relevant analysis proactively during research sessions. The corporate tax compliance suite covers ASC 740 provision calculation, fixed asset management, and state income tax compliance. Bloomberg Tax is used by major law firms, Big Four accounting firms, and Fortune 500 tax departments where comprehensive research quality justifies premium subscription costs.

UltraTax CS is Thomson Reuters' flagship professional tax preparation software, widely regarded as the industry standard for mid-to-large accounting firms preparing complex federal and state returns. Part of the CS Professional Suite, UltraTax CS provides comprehensive coverage of all return types with seamless integration to other CS modules. The software handles 1040, 1120, 1120S, 1065, 1041, 706, 709, 990, and all states with sophisticated handling of complex situations including foreign tax credits, complex depreciation, alternative minimum tax, and consolidated returns. The Return Comparison tool highlights changes year-over-year, helping preparers identify unusual fluctuations. Automatic data flow between return types minimizes redundant entry for related returns. Integration with Accounting CS enables direct import of trial balance data for business return preparation. The review process is supported by detailed diagnostics and item-level notes. UltraTax CS's integration with Thomson Reuters Checkpoint provides authoritative tax research within the preparation workflow. The platform's depth of coverage for complex situations—multi-state, international, complex entity structures—is its primary strength. While the interface reflects its desktop heritage, the onvio cloud platform increasingly enables web-based workflows. UltraTax is used by many of the top 100 CPA firms as their primary tax preparation platform. The software's reliability during tax season peaks and comprehensive state coverage are particularly valued by large firm operations managers.

Lacerte Tax is Intuit's professional tax software designed for CPA firms handling complex and high-value tax returns. With over 40 years of history, Lacerte is trusted by some of the largest accounting firms in the US for its comprehensive coverage of complex tax situations, deep diagnostic tools, and integration with QuickBooks. Lacerte supports the complete range of return types from individual to corporate, partnership, fiduciary, estate, gift, and exempt organization returns. Its strength lies in sophisticated business returns—partnerships and S-corps with complex K-1 allocations, multi-state filings, consolidated returns, and international tax provisions. The research integration with Thomson Reuters Checkpoint or Bloomberg Tax provides in-product access to authoritative guidance. Document management tools organize workpapers and client files. Tax Planner enables multi-year planning and scenario analysis. EasyACCT provides bookkeeping and write-up workflow for full-service clients. The software's diagnostic engine identifies potential issues and optimization opportunities in returns. Lacerte integrates with popular practice management tools and the broader Intuit ecosystem. Per-return pricing can be cost-effective for firms with varied workloads; unlimited licensing suits high-volume firms. Lacerte is the preferred choice of firms where preparers handle complex, high-fee returns where error prevention justifies premium software investment. Regular Intuit pricing changes and per-module fees require careful cost analysis relative to alternatives.