Interactive Brokers (NASDAQ: IBKR) has expanded its professional tax planning toolkit by launching Tax Planner, an addition to its PortfolioAnalyst platform designed to provide investors with greater control over the tax implications of their investment activities. The new Tax Planner allows users to create personalized tax profiles, incorporating details such as income from other sources, deductions, withholdings, and tax rates. By combining this profile with account activity from Interactive Brokers, the tool estimates tax liabilities and assists with ongoing tax planning throughout the year. Milan Galik, CEO at Interactive Brokers, emphasized the company’s commitment to client empowerment. “Our mission is to equip clients with tools that make managing investment performance, including tax outcomes, more efficient while maintaining the low costs and global market access that sets Interactive Brokers apart,” Galik stated. He added, “The new Tax Planner gives investors a higher degree of oversight over the tax implications of their trades.” Tax Planner is integrated within PortfolioAnalyst, Interactive Brokers’ free and comprehensive portfolio management solution. PortfolioAnalyst enables users to consolidate accounts across various financial institutions, track performance, and utilize a wide array of tools for portfolio analysis and future planning. Alongside Tax Planner, PortfolioAnalyst features include Allocation Goals for monitoring portfolio distributions, a Retirement Planner for personalized retirement strategies, and a Budgeting Tool for managing monthly and annual finances. Beyond the new Tax Planner, Interactive Brokers continues to offer a suite of tax optimization tools. These features assist clients in identifying losses across their portfolios and matching closing trades with specific lots, either pre- or post-trade. Such capabilities support tax loss harvesting efforts by aiding investors in the management of capital gains and losses. Additional functionalities include the ability to preview potential short- or long-term gains or losses before trade submission, select specific lots to close, and review and adjust tax-lot matching after a trade using Tax Optimizer to enhance realized gains and losses. Investors can also choose from multiple tax-lot matching methods and set a default for efficiency.