“I am not acquiring the customer,” Rich Preece said during the online town hall held February 21, one of three hosted by Woodard, known as a speaker and consultant to the tax and accounting profession.
The new offering resembles TurboTax Live in which taxpayers who are preparing their own returns can turn to professionals to ask a question. The professional is contacted from within the application and answers delivered via one-way video. Preece noted the differed is the TurboTax product services consumers.
“It’s similar in that it uses the same technology,” Preece said, who apologized for his decision not to notify ProAdvisors of the test in advance.
Intuit is testing a subscription of $200 per month—or $2,400 annually. Preece noted the test price is “not set in stone”. A substantial number of the approximately 1,200 participants in one February 21 bill $6,000 or less a year, according to Woodard.
“We won’t proactively market this service to someone if they are already working with a ProAdvisor,” Preece said
The questions discussed publicly did not address if clients who sign with Intuit might still be prospects for bookkeepers or would be willing to pay both for bookkeeping and the Intuit service. However, Woodard urged bookkeepers to change their business model. He said they should expand financial services to include analytics and business consulting or technology services.