“The ecosystem is the big value,” says Jordan Ray, the company’s chief revenue officer. “You have accountants using four or five pieces of disparate software.” He notes in some cases different applications from the same vendor do not work together.
Canopy’ now has 24 1040 states and eight business states and will add more. “We will have them next one to two years and will have feature parity with the more high-powered systems in one to two years,” Ray says.
The company says its software enables users to see every file , email, and activity related to a client in oe profile. It also links spouse and dependent profles and enables any user to see the latest client activity at any time. Ray says Canopy has built a neural network to identify W-2s and 1099s and "we expect to be able to use that to sort and organia3 documents that peole receive from taxpayers."
Tax preparation starts at $1,500 annually for unlimited individual and business ( 1040, 1065, 1120, 1120S, and 1041 returns.vPractice management is priced at $816 per year.Last modified on Tuesday, 18 June 2019