Tax preparation software and bank products

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Meme in Plaquemine, Louisiana

56 months ago

April in Winston Salem, North Carolina said: I'm looking into opening a tax prep business with RAL options but my credit is not so great. Does anyone know if there is a bank that will deal with this type of situation?

Did you find a company that works with people that want to do the RAL with not so perfect credit?

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nctaxgirl in Durham, North Carolina

55 months ago

Has anyone ever used the software TaxWorks? How is it in terms of user friendly? It's very inexpensive, and I am considering purchasing it.

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Belinda Hernandez in San Antonio, Texas

55 months ago

I used it once. It was pretty good. I did change to taxwise through dlcfastax service bureau. Also very inexpensive and a much better package. (As far as options go)

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George in Alpharetta, Georgia

55 months ago

I would recommend taxwise. Very user friendly. I'm using for 2009 for the first time. I have tested it, very easy to use. However their fees are high $ 24 per return ( $ 15 bank technology fees, $ 9 transmission fees. I bought my software through TRX Alliance and I was not aware of these fees until i got my software, and loaded a practice return.

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Mike Sash in Pekin, Illinois

55 months ago

TaxVision Software is still accepting new EFINs for the RAL program with ADVENTafs. TaxVision Software is also still accepting existing ERO's to ADVENTafs' RAL program. www.ntslink.com Get the phone number off the website and call the TaxVision Sales Dept. Mention you heard about TaxVision from the Indeed Forum. Packages start at $275 w/ $5 fed. and $3 state xmit fees.

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nctaxgirl in Durham, North Carolina

55 months ago

Thnx for your input everyone. I'm evaluating which software is the best quality and least expensive, so is Drakes through Guardiantaxsoftware.com the best?

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southernstylelady

55 months ago

George in Alpharetta, Georgia said: I would recommend taxwise. Very user friendly. I'm using for 2009 for the first time. I have tested it, very easy to use. However their fees are high $ 24 per return ( $ 15 bank technology fees, $ 9 transmission fees. I bought my software through TRX Alliance and I was not aware of these fees until i got my software, and loaded a practice return.

George, did you get the software that's like 425 bucks, the reason is because if you purchased that on, its charging you per-return, unlike the 1040 package plus which is like 1084.00 you unlimited everything

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Belinda Hernandez in San Antonio, Texas

55 months ago

The TaxWise package that I got from DLC FASTAX is the package that normally goes for $2385.00
The fees that I pay are less than those that are charged by TRX and the package has everything that I need. It has the 1120S, 1120C and much more. I checked it out at the TW website and it is quite a bargain as far as I'm concerned. Go to www.dlcfastax.com
Bel

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Beautiful Accountant

55 months ago

Need to know which is better ProSeries, Tax Vision, and ATX. Please help.

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Go4Gold@dc.rr.com in Cathedral City, California

55 months ago

Belinda Hernandez in San Antonio, Texas said: I liked the software that I got from the Service Bureau that I used. They gave me the
Taxwise Power package for under $400. It gave me everything I needed to do both individual, and business returns as well as the states that I needed. Its also easy to learn and use. I was very pleased. I know that the service bureau gets paid for what they do, but they did help me alot.

WHICH SERVICE BUREAU WAS THAT?

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Go4Gold@dc.rr.com in Cathedral City, California

55 months ago

nctaxgirl in Durham, North Carolina said: Has anyone ever used the software TaxWorks? How is it in terms of user friendly? It's very inexpensive, and I am considering purchasing it.

I just finished doing 60 hours of california CTEC required training and used Tax Wise for it... with very good results! The only thing I didn't like was the way it handled depreciation schedules... other wise a very good experience.

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Go4Gold@dc.rr.com in Cathedral City, California

55 months ago

nctaxgirl in Durham, North Carolina said: Has anyone ever used the software TaxWorks? How is it in terms of user friendly? It's very inexpensive, and I am considering purchasing it.

Correction... That was Tax Act that I used (similar names) but results were worth a look at!

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Belinda Hernandez in San Antonio, Texas

55 months ago

www.dlcfastax.com

Regards,
Belinda

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Professional Tax Preparer in Wesley Chapel, Florida

55 months ago

Proseries is better than Taxwise. I have not used the others (ATX & Taxvision).

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Southernstylelady in Jackson, Mississippi

55 months ago

Can somebody please give me info on how to do a schedule C. These traing videos are great until I actually get someone in here, saying that they are self employed. Any information provided would help me out A LOT!!!!!
Thanks
Toria

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Chuck McCabe in Richmond, Virginia

55 months ago

I doubt that any tax professional can take their time away from their tax business to teach you. You should take a high-quality course in small business tax preparation that is not taught using tax preparation software, but using tax forms manually.

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Southernstylelady in Jackson, Mississippi

55 months ago

Question? I was wondering why did you respond. I have taken tax preparation classes and have been doing taxes for over 6 years on the paper and paperless,. I dont do fraudulent stuff because its these ignorant people who has never had a job that wants someone to file them as self employed. Hell if they want to get the hook up, I would love to do it. And BTW if you are none informative please dont respond.
Thanks and this forum is so informative. I went from not about to be stressed because the banks aren't offering first time ERO's to provide RAL'S but I got with a franchise and a service bureau. Thanks all for the questions that you ask and thank you all for the answers you provide.

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Chuck McCabe in Richmond, Virginia

55 months ago

I'm glad that IRS testing of tax preparers for basic competency is on the horizon. This is a very positive development for the tax industry!

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Thornell in Fort Washington, Maryland

55 months ago

Southernstylelady in Jackson, Mississippi said: Please find someone else to respond to.
Have a good one.

What software are you using. I can walk you thru it

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Professional Tax Preparer in Tampa, Florida

55 months ago

I really don't want to be rude or offend you, but why are you taking on clients with businesses if you don't know how to prepare those types of returns? Any professional should know that when you can't handle something you should refer the client to someone more knowledgeable in the specific area their return covers. Refer these people to someone else, and after tax season go get some good training/CPE on tax returns for small business owners/self-employed individuals.

Chuck- agreed. I am absolutely thrilled about the new requirements.

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Southernstylelady in Jackson, Mississippi

55 months ago

Thornell in Fort Washington, Maryland said: What software are you using. I can walk you thru it

I am using Drake.

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Chuck McCabe in Richmond, Virginia

55 months ago

Professional Tax Preparer in Tampa, Florida said: I really don't want to be rude or offend you, but why are you taking on clients with businesses if you don't know how to prepare those types of returns? Any professional should know that when you can't handle something you should refer the client to someone more knowledgeable in the specific area their return covers. Refer these people to someone else, and after tax season go get some good training/CPE on tax returns for small business owners/self-employed individuals.

Chuck- agreed. I am absolutely thrilled about the new requirements.

Thanks for your support, Professional Tax Preparer in Tampa. There is obviously no point in continuing this dialogue. Hopefully the new IRS regulation of tax preparers will ultimately result in a higher level of professionalism in the tax industry. Let's move on to more productive discussion.

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ted in Madison, Alabama

55 months ago

need some help in offering rals any suggestions

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andrew in Miami, Florida

55 months ago

Professional Tax Preparer in Tampa, Florida said: I use Drake software and offer RALs through Chase. I got approved right away even though I have not offered bank products before. I have had my EFIN for 4 years though.

Can I contact you directly?
Have many questions and need clarification.

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CoachB79 in Vancouver, Washington

55 months ago

I am starting up my own tax business this season.
I know I am a little behind in getting started, but I have my license, sent in my prints for my EFIN, and I will be buying TaxAct, since I am not expecting to do anything complicated.

Anyone have any input?

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Colby in Stone Mountain, Georgia

55 months ago

CoachB79 in Vancouver, Washington said: I am starting up my own tax business this season.
I know I am a little behind in getting started, but I have my license, sent in my prints for my EFIN, and I will be buying TaxAct, since I am not expecting to do anything complicated.

Anyone have any input?

Please email @ teresa@advancetaxprep.com as we may help. We offer RAL and other bank products to other businesses.

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Colby in Stone Mountain, Georgia

55 months ago

ted in Madison, Alabama said: need some help in offering rals any suggestions

It's not to late for you to offer RAL products. Please contact me and we will show you how to offer RAL products immediately.

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Nauteia in Joliet, Illinois

55 months ago

Colby in Stone Mountain, Georgia said: It's not to late for you to offer RAL products. Please contact me and we will show you how to offer RAL products immediately.

have the same problem can't do ral' due to sbbt. need more info on how to offer rals.

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JD1010 in Centerport, New York

53 months ago

Belinda Hernandez in Houston, Texas said: The service bureau helped me get my EFIN, they sent me the forms, fingerprint card and helped by answering questions. They helped me learn the software, they gave me free lessons on preparing taxes, and even a copy of their own test prep simulator for the enrolled agent exam. They answered questions during the tax season and even remotely got into my computer to help me with problem returns. I only did between 150 and 200 returns but the cost was minimal and once I calculated it out I didn't pay what the software would have cost directly from TW. It was well worth it to use the service bureau. They helped get me up and running.

How did you get in contact with the bureau? can you send me some information? Thank....

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Darren in Canton, Georgia

52 months ago

Any ideas how i can get Taxwise Software at a reasonable price. The only i want is priced at 2400 if i purchase directly from tax wise. Any bureas offering at a cheaper price? thanks

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chris tax in Los Angeles, California

52 months ago

Hi Chuck:

You are 100 per cent correct If you are confused on a return call someone for help behind the scenes. Pay that person the fees and learn from the return. Tax code is not that hard buttttttttt each line of 1040 have different rules and are hard to keep straight

I have been doing taxes four years at LiIberty. Double checking is always a good idea tell client you research tax code and double check every thing.

Chuck i was up at Grass valley in December. I love northern California

chris

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Steve in Kennesaw, Georgia

52 months ago

Tax Technology - Keith Howell - contact me at kwm8340@yahoo.com for his number.

Steve

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Chris Tax in Los Angeles, California

51 months ago

I am thinking of buying Tax Act prepare edition

I have been playing around with their 2008 demo software
1.How is Tax Act Interview Mood and providing help windows doing a return? Is it as good as turbo Tax?
2. How is their support to software question?
3. How is their support on answering a tax question? Some times I like to double check stuff

4. I noticed that the software did not make you enter W2 information twice can you make it do that? Transposing a number is easy.

Chris

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Brian Marshall in Aurora, Illinois

51 months ago

To the seasoned pros out there I have a Professional Tax Software Question. I am getting back into the tax prep business professionally for 2011. I am evaluating software at the moment and I am strongly considering OLTPro. I have used Taxwise in the past and I really don't have much of a preference. My concern with OLTPro is that their original and seems like their primary business is offering cheap online tax prep to individuals.

My concern is that by using their software, the will be able to get my clients info after I efile their returns and then they will start marketing to my clients. I have worked in the Mortgage biz in the past and some of the big lenders were masters at stealing clients from independent brokers in much the same way. Anybody have any experience or input on this? Any info would be greatly appreciated.

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Chris Tax in Los Angeles, California

51 months ago

Brian Marshall in Aurora, Illinois said: To the seasoned pros out there I have a Professional Tax Software Question. I am getting back into the tax prep business professionally for 2011. I am evaluating software at the moment and I am strongly considering OLTPro. I have used Taxwise in the past and I really don't have much of a preference. My concern with OLTPro is that their original and seems like their primary business is offering cheap online tax prep to individuals.

My concern is that by using their software, the will be able to get my clients info after I efile their returns and then they will start marketing to my clients. I have worked in the Mortgage biz in the past and some of the big lenders were masters at stealing clients from independent brokers in much the same way. Anybody have any experience or input on this? Any info would be greatly appreciated.

THAT IS TOTALLY TOTALLY ILLEGAL under tax codes. Clients have to sign Consent to disclosure forms I have one for Software company and one for Bank for Rals, etc. You might want to get in in writing from software company. They could face major law suites and lose their right to sell personnel income tax software. I am not a lawyer. This is my educated opinion. They are involved in sharing client tax information here. The tax business can be slizzy I agree. I have seen illegal stuff go on in tax business. I would not be worried on this issue. Clients are already exposed to Turbo tax ads etc

Have you looked at TAX Act software?
Chris

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Brian Marshall in Aurora, Illinois

51 months ago

Chris Tax in Los Angeles, California said: THAT IS TOTALLY TOTALLY ILLEGAL under tax codes. Clients have to sign Consent to disclosure forms I have one for Software company and one for Bank for Rals, etc. You might want to get in in writing from software company. They could face major law suites and lose their right to sell personnel income tax software. I am not a lawyer. This is my educated opinion. They are involved in sharing client tax information here. The tax business can be slizzy I agree. I have seen illegal stuff go on in tax business. I would not be worried on this issue. Clients are already exposed to Turbo tax ads etc

Have you looked at TAX Act software?
Chris

The thing is they would not need any of the tax info, just names, addresses, emails, etc....contact info. It was just a thought because as I said, I have seen this in the mortgage industry.

Countrywide was the worst....if you as a loan officer did a loan for a client and Countrywide was the lender, they would heavily advertise to your client to do refi's directly with them, cutting you out of future business....I was only in the mortgage biz for a short time, and I did not personally do business with Countrywide, but I have seen a lot of complaints about it back in the day....

I just checked out the TaxAct website...similar offerings and pricing as some of the other big software companies....for the money you can't beat OLTPro....$250 for 25 returns, $400 unlimited if you purchase before 6/18/10 and you get free e-filing, all 50 states, document manger, etc....the only thing they don't seem to have that I want is the ability to import past returns from different software....I have a bunch of returns for family members that I have been doing in TurboTax over the years and I will end up having to start from scratch with the personal info, but for the savings it is worth it.....Thanks for your comments.

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Chris Tax in Los Angeles, California

51 months ago

Hi:

Yesterday I checked out TAX Act demo software and was very impressed.

Questions:

1. How is their support on answering a tax question? Some times I like to double check stuff. I need a support service for tax questions. Do i need some other tax support service.

2. I noticed that the software did not make you enter W2 information twice can you make it do that? Transposing a number is easy. How do you deal with transposing numbers. Any structured way besides simple double checking?

3. How is their software support?

I have been doing taxes for 4 yrs. When I finish a return, I want it to be clean of errors, even if it takes an extra five minutes.

Chris

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Tameka in Dallas, Texas

50 months ago

Professional Tax Preparer in Tampa, Florida said: I think you made the right choice. Some pointers:

1- Get your EFIN and PTIN as soon as you can
2- The software companies offer discounts if you pay for the software early, usually between April-May, so try to buy it then if you can, but test them out first with a demo
3- Try to make sure you're up to date on tax laws, there are low cost books and courses you can get out there
4- If someone ever comes to you with a tax return you cannot handle, do not be afraid to send them to someone more knowledgeable. Actually, I encourage you to find an Enrolled Agent or CPA in your area to work with. Let them know what you do, send them the difficult ones you cannot handle, and maybe they will even send you some of their easier ones
5- Consider taking the Enrolled Agent exam if you really like this field and plan to stay in it. The IRS is going to start regulating preparers anyway so everyone will have to take a test.
6- Get professional liability/E&O insurance. Landy Insurance is very cheap, Google them.

Thanks for your comments found it to be very helpful I too am starting my tax business and wanted more information on the right way to get started due to I'm not very large in clients at the moment. This was very helpful.

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Chris Tax in Los Angeles, California

50 months ago

I have 4 yrs experience with Liberty tax - corporate and franchise

I agree completely. Folks you need to get experience on both business side and Tax return side or a good mentor. I cannot stress that enough

I have a PTN, EFIN and i just bought TaxAct. I have left a call with insurance agent for E&O insurance

Where do I get support for my Tax questions besides IRS pubs, etc.?
I have done maybe 250 returns in my life, but only during Tax season I do not know all

I am not afraid to turn down a to complicated Tax Return

Chris

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Belinda Hernandez in San Antonio, Texas

50 months ago

My service bureau is run by and experienced Enrolled Agent with 36 years under his belt. He also provides training and support. When I have a question he actually takes control of my computer and shows me exactly how to handle tough tax returns. This has been really good.

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Chris Tax in Los Angeles, California

50 months ago

Belinda you are smart. You found good support through a Good service bureau. My guess is alot of service bureaus are not as good as yours. Asking for help on a tax return is smart

What I want is occasional support. I am willing to buy for it. I am willing even to pay the person my return money on that return. I get the knowledge. I have done tax returns only during the tax season for 4 yrs.

Is there some good support service that you can buy?

chris

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PS in Suffolk, Virginia

48 months ago

Monique Lambeth in Greensboro, North Carolina said: Hello Everyone,

I am looking into starting my business from home. I have done a lot of research on e-filing, software, bank products, etc. I wanted to get some pointers from you all on how you got started and what methods you used to get your name out the first year. I think I will most likely use tax wise as my software for now as they seem to offer the best choices for someone just starting out. The biggest mystery to me is becoming an authorized e-filer. I am little confused about the different roles that you can choose when registering for the service. I think I would be and ERO, but I'm not quite sure. Any help with that would be appreciated to.


TAX WISE IS A GREAT CO. SEND ME AN EMAIL, AND WE CAN CONNECT PLUS ANYWAY I CAN HELP U LET ME KNOW!! (PAULSAUNDERS306@AOL.COM)LOOK FORWARD TO CHATTN WITH U!!

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Bob Johnson in Pekin, Illinois

48 months ago

TaxVision also provides a starter package with multiple bank options. Request our elvaltion software for FREE.

www.ntslink.com/products_1040_starter.aspx

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Louisiana Girl

48 months ago

I AGREE 100%, AND FOR THOSE WHO CAN'T, THEY ALSO HAVE A WEBSITE THAT YOU CAN VISIT ONLINE THAT YOU CAN ALSO EARN CPE'S....YOU DO HAVE TO PAY VERSES AT THE FORUM IF YOU ATTEND IT'S FREE, BUT IT IS WORTH IT!!!!!

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Chris Tax in Los Angeles, California

48 months ago

what the heck is CPE's? Is it to get come certificate ?

I know what an EA, CPA, Registered CTEC preparer is

Chris

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Chuck McCabe in Richmond, Virginia

48 months ago

CPE = Continuing Professional Education, which is reguired for CPAs, EAs and others. IRS will be switching to the term Continuing Education (CE) for registered tax preparers.

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Louisiana Girl

48 months ago

Bob you are absolutely correct....I did Taxvision this season, and I am going another round for the upcoming season. I had a great bank which is Advent, and being blessed to get that incenative was even better after the season. I encourage new people just starting out to start there, and for those who don;t know or need more info, leave an email address where i can assist you and email you more info.

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Bob Johnson in Pekin, Illinois

48 months ago

Unfortunately…will will not be working with Advent and not offering the Get it Card for next season. They provided our card processing services. The Deposit Bank was Check Spring Bank. We are currently seeking other card options and may have one for next season. It really was not that popular due to card limitations V.S. cashing the checks for the full amount of Refund. We are currently working with 3 banks now and will be adding more as we move forward. In addition, we will be continuing our incentive based model we introduced to the market last tax season as well.

Glad to hear you had a good season and coming back for next season

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Bob Johnson in Pekin, Illinois

48 months ago

Currently...First Security Bank, River City Bank and CheckSpring Bank.

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Bob Johnson in Pekin, Illinois

48 months ago

I also wanted to mention that we will be addding in more banks as we move forward as well.

www.ntslink.com/banks.aspx

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