Latest news with #TurboTax
Yahoo
3 days ago
- Business
- Yahoo
Can Intuit Sustain Its Growth Momentum With Bold AI Push?
Intuit Inc. INTU, the financial software leader behind TurboTax, QuickBooks, Credit Karma and Mailchimp, is doubling down on artificial intelligence (AI) to transform how individuals and businesses manage money. At the core of this shift is GenOS, Intuit's proprietary AI operating system that powers intelligent workflows, automates tasks and delivers personalized insights. The company's latest leap includes the introduction of a virtual team of AI agents focused on helping businesses grow with less effort and greater precision. These AI agents, tailored for areas like payments, customer management and accounting, enable a 'done-for-you' model, reducing complexity and boosting efficiency. Nearly 25% of invoicing customers now use AI-generated invoice reminders, resulting in more than 10% higher payment conversion rates on overdue invoices. TurboTax, powered by AI, shortened average filing time by 12%, with more than half of users completing their returns in under an hour. Meanwhile, AI tools helped experts reduce return preparation time by 20%, fueling stronger conversion and AI integration is also accelerating growth across QuickBooks and Mailchimp. QuickBooks Online revenues rose 21% in the third quarter of fiscal 2025, driven by pricing, mix shift and AI-powered innovations. For mid-market clients, Intuit's Enterprise Suite offers multi-entity insights, automated workflows and seamless app integration, all enhanced by AI. As AI reshapes how businesses manage operations, Intuit remains a solid innovator. Its data-rich ecosystem, spanning more than 100 million users, generates 60 billion machine learning predictions daily, supporting high-velocity development and real-time insights. With AI now deeply embedded into its strategy, Intuit is extending its lead in the financial software arena. AI Integration at Oracle and Paychex Oracle ORCL is embedding generative AI into its Fusion Cloud Applications across HR, finance and supply chain. Its AI assistants accelerate workflows, deliver contextual recommendations and streamline planning, enabling enterprises to make faster, smarter decisions. Recently, Oracle announced plans to invest $3 billion over the next five years to strengthen its AI and cloud infrastructure in Germany and the Netherlands. Paychex PAYX is advancing its AI integration by embedding intelligent technologies across its HR and payroll platforms. In recent times, the company launched a new AI-powered sales technology stack and market intelligence tool for its sales teams, enhancing productivity and targeting. INTU's Price Performance, Valuation and Estimates Shares of Intuit have rallied 20.2% year to date, outperforming both the broader industry as well as the S&P 500 Index. Image Source: Zacks Investment Research From a valuation standpoint, Intuit shares are expensive, as suggested by the Value Score of F. In terms of forward 12-month Price/Sales (P/S), Intuit is currently trading at 10.10X, which is at a premium to the industry average of 8.86X. Image Source: Zacks Investment Research Intuit's estimate revisions reflect a positive trend. The Zacks Consensus Estimate for fiscal 2025 and 2026 EPS has been revised upward over the past two months. The Zacks Consensus Estimate for fiscal 2025 EPS suggests 18.42% growth year over year, while the same for fiscal 2026 calls for 13.7% growth year over year. Image Source: Zacks Investment Research Currently, Intuit sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intuit Inc. (INTU) : Free Stock Analysis Report Paychex, Inc. (PAYX) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
3 days ago
- Business
- Globe and Mail
Can Intuit Sustain Its Growth Momentum With Bold AI Push?
Intuit Inc. INTU, the financial software leader behind TurboTax, QuickBooks, Credit Karma and Mailchimp, is doubling down on artificial intelligence (AI) to transform how individuals and businesses manage money. At the core of this shift is GenOS, Intuit's proprietary AI operating system that powers intelligent workflows, automates tasks and delivers personalized insights. The company's latest leap includes the introduction of a virtual team of AI agents focused on helping businesses grow with less effort and greater precision. These AI agents, tailored for areas like payments, customer management and accounting, enable a 'done-for-you' model, reducing complexity and boosting efficiency. Nearly 25% of invoicing customers now use AI-generated invoice reminders, resulting in more than 10% higher payment conversion rates on overdue invoices. TurboTax, powered by AI, shortened average filing time by 12%, with more than half of users completing their returns in under an hour. Meanwhile, AI tools helped experts reduce return preparation time by 20%, fueling stronger conversion and productivity. The AI integration is also accelerating growth across QuickBooks and Mailchimp. QuickBooks Online revenues rose 21% in the third quarter of fiscal 2025, driven by pricing, mix shift and AI-powered innovations. For mid-market clients, Intuit's Enterprise Suite offers multi-entity insights, automated workflows and seamless app integration, all enhanced by AI. As AI reshapes how businesses manage operations, Intuit remains a solid innovator. Its data-rich ecosystem, spanning more than 100 million users, generates 60 billion machine learning predictions daily, supporting high-velocity development and real-time insights. With AI now deeply embedded into its strategy, Intuit is extending its lead in the financial software arena. AI Integration at Oracle and Paychex Oracle ORCL is embedding generative AI into its Fusion Cloud Applications across HR, finance and supply chain. Its AI assistants accelerate workflows, deliver contextual recommendations and streamline planning, enabling enterprises to make faster, smarter decisions. Recently, Oracle announced plans to invest $3 billion over the next five years to strengthen its AI and cloud infrastructure in Germany and the Netherlands. Paychex PAYX is advancing its AI integration by embedding intelligent technologies across its HR and payroll platforms. In recent times, the company launched a new AI-powered sales technology stack and market intelligence tool for its sales teams, enhancing productivity and targeting. INTU's Price Performance, Valuation and Estimates Shares of Intuit have rallied 20.2% year to date, outperforming both the broader industry as well as the S&P 500 Index. From a valuation standpoint, Intuit shares are expensive, as suggested by the Value Score of F. In terms of forward 12-month Price/Sales (P/S), Intuit is currently trading at 10.10X, which is at a premium to the industry average of 8.86X. Intuit's estimate revisions reflect a positive trend. The Zacks Consensus Estimate for fiscal 2025 and 2026 EPS has been revised upward over the past two months. The Zacks Consensus Estimate for fiscal 2025 EPS suggests 18.42% growth year over year, while the same for fiscal 2026 calls for 13.7% growth year over year. Currently, Intuit sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include Stock #1: A Disruptive Force with Notable Growth and Resilience Stock #2: Bullish Signs Signaling to Buy the Dip Stock #3: One of the Most Compelling Investments in the Market Stock #4: Leader In a Red-Hot Industry Poised for Growth Stock #5: Modern Omni-Channel Platform Coiled to Spring Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%. Download Atomic Opportunity: Nuclear Energy's Comeback free today. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intuit Inc. (INTU): Free Stock Analysis Report Paychex, Inc. (PAYX): Free Stock Analysis Report Oracle Corporation (ORCL): Free Stock Analysis Report
Axios
3 days ago
- Business
- Axios
IRS outlines tax deductions from Trump's "big, beautiful bill"
Starting next year, millions of Americans — from restaurant servers to retirees — could receive lower tax bills under President Trump 's recently signed tax legislation. Why it matters: The sweeping law locks in Trump-era tax cuts and rolls out a fresh set of deductions, including tax breaks for tips, overtime pay, car loan interest and seniors. Follow the money: The legislation extends the expiring 2017 Tax Cuts and Jobs Act. That would decrease federal tax revenue by $4.5 trillion from 2025 through 2034, the Tax Foundation says. The legislation also slashes food and health benefits for the poorest Americans. The White House has said the law will spur strong economic growth. Standard deduction 2025, SALT and Child Tax Credit The legislation makes the Child Tax Credit permanent and increases it by $200 per child to $2,200. TurboTax spokesperson Lisa Greene-Lewis told Axios the legislation increased the state and local tax (SALT) deduction cap for homeowners and permanently extends lower individual tax rates. "For the majority of filers who claim the standard deduction, the standard deduction increased to $15,750 for single filers, $31,500 married filing jointly and $23,635 for head of household for tax year 2025 under the new bill," Greene-Lewis said. For single filers, that's an increase of $750, for joint it's $1,500 more and for heads of households it's up $1,135 from the deductions previously announced for taxes filed in 2026. IRS tax deductions The big picture: The Internal Revenue Service published a new fact sheet this week outlining how — and when — the law's temporary tax deductions will take effect. They will apply starting with tax returns filed in 2026 and expire in 2028 when Trump leaves office. The following new and temporary deductions were highlighted by the IRS: No tax on tips deduction 🧾 Workers in tip-heavy jobs — like restaurant servers and salon staff — can deduct up to $25,000 in qualified tips from their income. The new break applies to both W-2 employees and some self-employed workers. The tax deduction would decrease once a worker's income hits $150,000, or $300,000 for joint filers. By the numbers: Roughly 4 million U.S. workers were in tipped occupations in 2023, or 2.5% of all employment, according to estimates from The Budget Lab at Yale University. The median weekly wage for tipped occupations was $538 in 2023, compared to $1,000 for non-tipped workers, per the Yale lab. What's next: The IRS will release a list of eligible tip-earning jobs by Oct. 2, 2025, along with updated employer reporting rules. No tax on overtime deduction 🕒 Workers who receive "qualified overtime compensation may deduct the pay that exceeds their regular rate of pay" — the "half portion" in "time-and-a-half" overtime, the IRS said. The maximum annual deduction is $12,500, or $25,000 for joint filers. The deduction phases out for taxpayers with modified adjusted gross income over $150,000, or $300,000 for joint filers. What they're saying: Kristin Baldwin, compliance director at employer organization CoAdvantage, told Axios that employees who receive tips or overtime won't see any immediate changes in their paycheck, but will need to file for the deductions in 2026 on their tax returns. $6,000 senior tax deduction 💸 Zoom in: The temporary tax deduction is for individuals 65 and older, who can claim an additional $6,000 deduction, or $12,000 for a married couple when both qualify. This deduction is in addition to the standard deduction and available for itemizing and non-itemizing tax returns. It phases out for taxpayers with modified adjusted gross income over $75,000, or $150,000 for joint filers, the IRS said. Yes, but: Trump promised to eliminate taxes on Social Security income. This temporary deduction comes close. The tax break will raise the number of seniors with enough deductions to offset taxable benefits from 64% to around 88%. The deduction leaves out the poorest seniors — who already don't pay Social Security taxes — and the wealthiest ones, too. New car tax deduction on loan interest 🚗 Driving the news: Taxpayers can deduct up to $10,000 annually in interest on new car loans — if the car is U.S.-assembled, for personal use and purchased new. Qualified vehicles are cars, minivans, vans, SUVs, pick-up trucks or motorcycles, with a gross vehicle weight rating of less than 14,000 pounds. Final vehicle assembly has to be done in the U.S. to qualify. Yes, but: Used vehicles and leases don't qualify. "The taxpayer must include the Vehicle Identification Number (VIN) of the qualified vehicle on the tax return for any year in which the deduction is claimed," the IRS said. The deduction phases out for taxpayers with modified adjusted gross income over $100,000, or $200,000 for joint filers.
Yahoo
4 days ago
- Business
- Yahoo
BMO Capital Maintains ‘Outperform' Rating on Intuit Inc. (INTU); Raises PT from $820 to $870
With strong hedge fund backing and a positive analyst outlook, Intuit Inc. (NASDAQ:INTU) makes it to our list of the Top 10 AI Infrastructure Stocks to Buy Now. BMO Capital increased its price target on Intuit Inc. (NASDAQ:INTU) from $820 to $870 on July 11, 2025. Maintaining an 'Outperform' rating, the analyst cited growth potential in the company's TurboTax segment, driven by new tax legislation. One Big Beautiful Bill was signed into law on July 4, 2025, resulting in significant changes to the tax code. Analysts' positive sentiment also follows a strong Q3 for Intuit Inc. (NASDAQ:INTU), where it recorded revenue of $7.8 billion (+15% YoY) and EPS of $11.65 per share (+18%). Meanwhile, TurboTax Live surged 47%. The company's future outlook is further bolstered by its acquisition of Relevvo on June 30, 2025, which will streamline INTU's go-to-market efforts, leveraging intelligent, data-driven customer engagement. The company expects full-year revenue growth of 15% and GAAP EPS growth of up to 27%. Intuit Inc. (NASDAQ:INTU), a U.S.-based business software company, offers AI-powered tax, accounting, and credit products with platforms like TurboTax, QuickBooks, and Credit Karma. While we acknowledge the potential of INTU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Billionaire Kerr Neilson's 10 Stock Picks with Huge Upside Potential and Growth Stock Portfolio: 12 Companies with At Least 30% Annual Growth Rates. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
BMO Capital Maintains ‘Outperform' Rating on Intuit Inc. (INTU); Raises PT from $820 to $870
With strong hedge fund backing and a positive analyst outlook, Intuit Inc. (NASDAQ:INTU) makes it to our list of the Top 10 AI Infrastructure Stocks to Buy Now. BMO Capital increased its price target on Intuit Inc. (NASDAQ:INTU) from $820 to $870 on July 11, 2025. Maintaining an 'Outperform' rating, the analyst cited growth potential in the company's TurboTax segment, driven by new tax legislation. One Big Beautiful Bill was signed into law on July 4, 2025, resulting in significant changes to the tax code. Analysts' positive sentiment also follows a strong Q3 for Intuit Inc. (NASDAQ:INTU), where it recorded revenue of $7.8 billion (+15% YoY) and EPS of $11.65 per share (+18%). Meanwhile, TurboTax Live surged 47%. The company's future outlook is further bolstered by its acquisition of Relevvo on June 30, 2025, which will streamline INTU's go-to-market efforts, leveraging intelligent, data-driven customer engagement. The company expects full-year revenue growth of 15% and GAAP EPS growth of up to 27%. Intuit Inc. (NASDAQ:INTU), a U.S.-based business software company, offers AI-powered tax, accounting, and credit products with platforms like TurboTax, QuickBooks, and Credit Karma. While we acknowledge the potential of INTU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Billionaire Kerr Neilson's 10 Stock Picks with Huge Upside Potential and Growth Stock Portfolio: 12 Companies with At Least 30% Annual Growth Rates. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
