| Value Tax Software: The Other Guys |
| Written by Bob Scott |
| Wednesday, 15 September 2010 12:40 |
When Thomson Reuters acquired TaxSimple, the biggest surprise was that the latter company's products weren't folded. Instead, TaxSimple is going to be in the market with 2010 versions of its tax software. And the reason that this was a typical case of buying a competing packages for the user base is captured in the use of the word "value" to describe where TaxSimple fits into the Thomson line.
Whatever the exact definition of "value" is, it seems clear the acquirer was thinking lower-cost product. And there's been grumbling in the cost-conscious sector of the tax preparation market that the formerly inexpensive Intuit ProSeries has gotten too expensive for that segment.
The TaxSimple line has two versions, one for less experience preparers, and others who have more adept at tax preparation. For the first, calculation of taxes from source documents is virtually automatic," says John Vora, the CEO and founder of Tax Simple, who is staying with the operation under its new ownership For those who focus on price, TaxSimple's first-year cost is $725 for the federal 1040 and $345 for state forms. Pay per return is $15 for federal returns and $12 for states. The product is more of a bargain on the Web at $9.95 per federal 1040 and $9.95 per state 1040 return. Whether Thomson intends to have TaxSimple compete on price remains to be seen. But with few nationally known players remaining, there are still a number of lesser known players whose claim to fame is largely price. That includes OLT Pro, short for Online Taxes Professional Software, a name that doesn't completely capture what the company does. Until October 31, the price of 25 returns is $299 for the Web-based program and $349 for the CD version. That goes up to $349 and $399 after that date. The unlimited program is priced at $499 (CD) and $599 (Web) until October 31 and $599 and $699 after that. OLT offers 1040 forms for all states and territories. Efiling is free. Another low-cost vendor, File Your Taxes, has a special offer for its Pro Tax Pro system. The first year is free. "Our desire is to have a very simple but comprehensive tax program," says Attila Taluy of FileYourTaxes.com, which markets the Pro Tax Pro software. The company offers 1040 return products, but not the 1120/1120S or 1065 package. It does handle California state sales tax and 1099s and W2s. A Web search will bring the names of several companies that might be of interest to bargain hunters. A list of a few that pop up follow. ATX The 1040 Office, priced at $730, has unlimited preparation of all federal 1040 forms and all individual state forms. The first 100 efiled returns are included for efiling for the federal 1040 and one state. After that, the per-return cost is the same as for the 1040. This package also integrates with the CCH IntelliConnect research platform. ATX has always been known for offering a variety of bundles and different combinations of tax preparation, efiling and accounting products are available. www.atxinc.com Great Tax At $755, the Individual Plus expands to include all state 1040s while the Professional Package includes organizers, security features and custom reports for $1,055. For $1,455 the Professional Plus version adds what the company describes as key business returns. Products scale up from there, starting with the Premium Package, priced at $1,755, which incorporates all state and federal 1040s and all business returns. The company's Silver, Gold and Platinum versions add on features and cost. www.greatland.com Tax Act Versions are available for the Web and on CD. There is also a multi-user Enterprise Edition which offers additional features that included online back and unlimited support, The company also offers consumer products. www.taxact.com Ultimate Tax Software Ultimate offers four versions of its professional tax line. The Ultimate CL gives the purchaser the federal 1040 and all 1040 states, along with free efiling for $399 and there is a pay-per-return module that starts at $299. Ultimate CW expands that with the addition of business forms with the cost at $449. Ultimate D has individual and business state and federal forms, free efiling, along with a write-up package and document manager for $899. There's also the Ultimate 1040 with the federal and all state returns, but no efiling, for $699. Except for those who the Ultimate D package, other customers must file 25 or more returns with bank products attached in order to receive a discount on the next year's tax software. The company offers a Web-based product, the Ultimate Complete tax system, but that is for consumers only. www.etaxplace.com
There is also a buy now/pay later plan which requires a down payment of $199.95 with the remaining $639.95 needed by December 31. The company notes this is designed for new tax preparers and it also offers a plan via which any new customer who does 50 federal RALS or PERCs that are funded by the company's bank by the end of April 15 gets a refund of the basic purchase price. A separately priced business tax add-on is available. Information is available at www.webtax.net. |
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| Last Updated on Wednesday, 15 September 2010 18:45 |
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| REVIEW: Online Payroll Software |
| Written by Dave McClure | |
A dozen years after the first SaaS versions of payroll software were introduced, it is no longer a question of why you would use them, but rather why any accounting practice would not. Hey: Fast, scalable and designed to meet the needs of accounting professionals and their clients in a mobile world, online payroll has four primary advantages over desktop versions of the same software system:
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| LexisNexis Tool Used to Fight Georgia Tax Fraud |
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| Technology Adds More to Your Life |
| Written by Richard Oppenheim CPA | |
You are all involved with technology and likely track new products and services on a regular basis. Consequently, my focus is to discuss new technology products can provide benefits for our advancing 24 hour Work-Life wheel. How you choose to draw boundaries between work and life is a conversation that you should have with many. Here are a few products that can be effectively used for what you do and where you do it. | |
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| Thomson Intros New Workpaper Product |
| Written by The Progressive Accountant | |
Thomson Reuters has introduced a new workpaper product, Workpaper CS. And while the company will continue to maintain its Engagement CS product, that product will not get much further development. | |
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| Video Interview: Thomson Reuters MyPay Solutions |
| Written by Bob Scott | |
The Progressive Accountant talks with Jack LaRue, SVP Thomson Reuters, about their payroll processing services available to tax and public accountants.
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Thomson Intros New Workpaper Product![]() Thomson Reuters has introduced a new workpaper product, Workpaper CS. And while the company will continue to maintain its Engagement CS product, that product will not get much further development. News | The Progressive Accountant | Tuesday, 22 May 2012 |
Intuit's Smith: Good Tax Season; But..![]() Intuit had an 11 percent increase in consumer tax revenue and the first growth in units sold to tax preparation professionals in three years for its third quarter ended April 30. But CEO Brad Smith thought the company should have done better in both areas in what he called a solid performance.. News | Bob Scott | Friday, 18 May 2012 |
Wave Accounting Gets $12 Million![]() Wave Accounting has secured $12 million in funding for its efforts to develop the market for its online accounting applications. Based in Toronto, Wave said the funding round was led by The Social+Capital Partnership with participation from existing investors Charles River Ventures and OMERS Venture. News | The Progressive Accountant | Thursday, 17 May 2012 |
NetSuite Signs GT, Deloitte, Frank RimermanNetSuite is making strong inroads into the accounting community. At its SuiteWorld conference, underway this week in San Francisco, it announced three accounting firms and Sage's largest reseller as new additions to its channel. News | Bob Scott | Tuesday, 15 May 2012 |
A Cloudy Year for Accounting SoftwareThe technology press likes to declare something a "Year of ..." whatever the hottest trend is. But evidence is building that 2012 is going to be a big year for the sale of accounting applications that run on the web. Now, as is usually the case, there are usually a few big years once a new technology catches on. News | The Progressive Accountant | Tuesday, 15 May 2012 |
SmartPros Results Flat![]() Continuing education provider Smart Pros turned in results for its first quarter ended March 31 that showed both revenue and its net loss virtually unchanged from results in 2011. The company said lingering results from the recession and competitive factors kept a lid of its business. News | The Progressive Accountant | Tuesday, 15 May 2012 |
TaxAct Revs Up 9 Percent![]() TaxAct, the tax preparation software company purchased by InfoSpace, had pro forma revenue of $61.9 million a 9-percent increase from $56.8 million for the first quarter ended March 31. TaxAct, purchased on January 31 contributed only two months of actual results to its Bellevue, Wash.-based parent. News | The Progressive Accountant | Thursday, 10 May 2012 |
Sage and Avalara Ally for Accountants Network![]() Sales-and-use tax vendor Avalara is joining with Sage North America to provide resources to members of the Sage Accountants Network. Avalara's Accountants Resource Center provides tools and educational resources for helping them increase their sales tax knowledge. News | The Progressive Accountant | Tuesday, 8 May 2012 |
CliftonLarsonAllen to Resell Avectra![]() CliftonLarsonAllen has agreed to resell Avectra's Social CRM to associations and nonprofit organizations.The accounting firm will offer the Avectra product in combination with Intacct's online accounting software. It is the latest move in the expansion of McLean, Va.-based Avectra's reseller program. News | The Progressive Accountant | Thursday, 3 May 2012 |
ADP Revenue and Net Up 7 Percent for 2012![]() Automatic Data Processing rolled sevens for its fiscal 2012 as net income, and revenue for employer services and total revenue all increased by 7 percent over 2011. And the company's metrics were strong in almost all areas for the year just ended. News | The Progressive Accountant | Thursday, 3 May 2012 |
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About the Author: Brett Owens is CEO and Co-Founder of Chrometa, a Sacramento, Calif.-based provider of software that records activity in real time. Previously marketed to the legal community, Chrometa is branching out to accounting prospects; gains include the ability to discover previously undocumented billable time, save time on billing reconciliation and improve personal productivity. Brett is also blogger and founder at CommodityBullMarket.com and ContraryInvesting.com, as well as a regular contributor to two leading financial media sites, SeekingAlpha.com and BeforeItsNews.com. |
Talking to others its the same thing, they have theirfavorite but haven't found one they are 100% happy with. It's the hardest piece of software I've ever had to find.