I would like a polite (formal) way to say:
The changes you intend to make will not do us any good.
or should I say "intend on making"?
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You could say:
"We feel that the intended changes will be of little benefit."
This avoids directly saying "you", which could come across as impolite.
Although not quite the same, you could also use "the proposed changes".
Apparently, intend on is a common error in English usage:
You can plan on doing something, but you intend to do it. Many people confuse these two expressions with each other and mistakenly say “intend on”*. Of course if you are really determined, you can be intent on doing something.
Notice that the first answer suggests several different improvements, each of which makes it more polite:
(a) It replaces the stark "not do... good" with the softer "little benefit" (which avoids "no" or "not").
(b) "Any" is often added for emphasis, so "not... ANY good" means especially worthless! On the other hand, "will not do us good" sounds awkward.
(c) It adds "We feel that..." which makes it an opinion rather than an absolute (even though it's about benefit to us, so it works out as absolute). Any time you qualify a statement with "in my opinion" you are being a bit more polite.
Perhaps something like this would be more polite:
I don't understand how these proposed changes will help you or me.