Gemifi’s Tax page is designed for planning. It helps advisors estimate how income, equity compensation, and saved plan scenarios may affect a client’s taxes over time.
Gemifi is not tax filing software and does not prepare or submit tax returns. Final tax treatment should be confirmed with the client’s CPA or tax preparer.
What Gemifi Calculates Today
Gemifi currently estimates federal tax using the client’s tax profile, income inputs, and selected saved plans.
Gemifi can model:
- Filing status
- Client and spouse wages
- Short-term and long-term capital gains
- Ordinary and qualified dividends
- Taxable interest
- Self-employment / Schedule C income
- Selected equity compensation planning activity, including RSUs and option exercise/sale scenarios
- Standard deduction vs. supported itemized deduction inputs
- Supported above-the-line adjustments, such as HSA deductions, IRA deductions, student loan interest, and other entered adjustments
- AMT, including ISO-related AMT impact
- Prior AMT credit carry-forward where entered
- Net Investment Income Tax
- Additional Medicare tax and self-employment tax
- Multi-year planning using client assumptions and saved plan scenarios
State Taxes
Gemifi does not currently calculate state tax brackets for any state.
If a state tax rate or state tax assumption is entered, Gemifi may use that as a planning assumption. This is not the same as calculating a full state tax return.
State bracket support is planned for rollout in 2026.
Tax Credits
Gemifi does not currently calculate most individual tax credits from eligibility rules or underlying expenses.
If an advisor wants to include a credit, they should enter the allowed credit amount directly where Gemifi provides a manual credit input. The advisor is responsible for determining whether the client qualifies and what amount is allowed.
Examples of credits Gemifi does not calculate today include:
- Child Tax Credit and Additional Child Tax Credit
- Earned Income Tax Credit
- Child and dependent care credit
- Education credits
- Adoption credit
- Saver’s Credit
- Premium Tax Credit
- Foreign Tax Credit
- Residential clean energy credits, including solar
- Energy efficient home improvement credit
- Clean vehicle credits
- Mortgage Interest Credit
- Credit for the elderly or disabled
- Fuel tax credits
- Other Schedule 3 credits and refundable credits
For credits such as solar, enter the allowed tax credit amount, not the installation cost or invoice amount.
What Gemifi Does Not Support Yet
Gemifi does not currently calculate:
- Foreign Earned Income Exclusion
- State tax brackets or full state returns
- Part-year resident, nonresident, or multi-state allocation calculations
- Schedule F farm income
- Qualified business income deduction
- Passive activity loss rules
- Full Schedule E rental or pass-through activity rules
- Full tax credit eligibility calculations
- Tax filing, return preparation, or e-filing
- Payroll or employer tax filing
If a client has one of these situations, Gemifi’s tax estimate may be incomplete. Use manual inputs where available, and confirm the final result with tax preparation software or a tax professional.
Why Gemifi May Differ From Tax Software
Tax filing software calculates a complete tax return using many IRS forms, worksheets, elections, credits, limitations, and filing-specific details.
Gemifi focuses on planning scenarios. The goal is to help advisors compare tax impact across years and equity strategies, not to replace a filed return.
Sources used
IRS individual credits overview, IRS 2025 Schedule 3, IRS 2025 Form 1040 instructions, IRS residential clean energy credit guidance, IRS clean vehicle credit guidance, and IRS OBBB energy credit expiration guidance. The support URL currently returns 404 publicly, which is expected if the Intercom article is still unpublished.