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Louisiana Girl

50 months ago

oh....ok....so what about all the incenatives that i had received...was that from checkspring?

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Mike Sash in Pekin, Illinois

50 months ago

The incentives you received were from NTS, or TaxVision Software.

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Louisiana Girl

50 months ago

WOW...Well I am sticking with NTS....It's a great company, and very helpful. I did not do any debit cards this season, because most of the clients either have an account, or wanted to see that check in their hand!!!! But everyone, trust our word, that NTS is great! and if you are brand new, this is the most inexpensive software that you can find, and affordable for the new preparer. Mike I have another question...with the season dated to start as soon as January 2nd...how soon will we be able to get the software? and are they letting clients use last pay stubs...I don't know if there will be a rush so soon, or what!

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Mike Sash in Pekin, Illinois

50 months ago

We will be releasing TaxVision 2010 in early December. This will allow a full month of preparation and setup. Plenty of time. We will begin 'enrollment' at the start of September which will allow you to setup your office's fee deposit account and choose a bank to work with. We will let you pick one of our three current banks to work with. You may choose which one to work with based on your interest in their pricing and incentives!

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Louisiana Girl

50 months ago

Great.......I can not wait!

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TaxPrep in Chicago, Illinois

50 months ago

Does anybody have any experience with TRX products? Are they reliable?

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Louisiana Girl

50 months ago

Hay Mike...is checkspring bank going to be making any improvements this season like giving clients a number to call and check on the status of their refund? this season that IRS # did not work for my clients...in fact it was saying that I did not submit their return. It was almost like a riot. I had to a girl taxvisions number to call because she did not believe me! I was humiliated and embarrassed because it;s my office, and I am suppose to have this handy for my clients!

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Chris Tax in Los Angeles, California

50 months ago

Louisiana Girl:

"The Where is my Refund" link off the IRS web site worked. That is what I gave clients last year. It reflected indirectly if they had received the refund by showing the schedule date of Refund

Chris

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Louisiana Girl

50 months ago

it may indeed work, however some clients dont have internet access, and most banks give a card out that clients can call directly to that bank to see if their refund has posted or not!

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Chris Tax in Los Angeles, California

50 months ago

Louisiana Girl:

The link takes U 2 secs to look. You need AIG. You can tell client that information. Regarding final bank check. It is usullary generated around 2 days after they get the money. Check with your bank.

This is all back end time servicing the account. Always try to be your clients friend. You have them on the phone offer them $20.00 for each referral

Chris

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Louisiana Girl

50 months ago

ok...thanks for the tip chris!!!

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Chris Tax in Los Angeles, California

50 months ago

In the tax business, it is the back end that really adds up. I take extra time on the return to make sure income is correct, names are correct, etc. before I efile it. RALS require extra back end time- printing the check, client calling if it is there, etc. I live in town where there is some sense of community. I will take a promise to pay from a client and efile the return> Most people will pay you when they get their refund. If the do not. Call them and ask very nicely for the money and if you have to say this one is on me and ask for them to refer someone.

I driven by increasing the number of clients.
keeping expenses down
Aggressive guerrilla marketing.

Chris

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mia

50 months ago

Steve in Gainesville, Georgia said: There are no credit guidelines for the EFIN. However, they do a criminal background check.

SBBT will run credit. They won't share exactly what they are looking for, however I do know that numerous disputes won't help you. If you would like to speak further, please feel free to contact me at kwm8340@yahoo.com. I've been in the industry for a long time as a product manager for software companies and consultant for the RAL banks. I'd be more than happy to share any insight I might have with you.

Steve

please contact me miapbradberry@yahoo.com

Steve,
I would love to havae more info on gettign approve for bank products

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Chris Tax in Los Angeles, California

50 months ago

Steve

Correct me if I am wrong. There should be bank products this year. The types of loans and the amounts is still undecided. IRA is no longer providing debt indicators and what type of loans bank regulatory agencies will allow, meeting are occurring on this as we speak. It is limbo right now

chris

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zborrero in Knightdale, North Carolina

49 months ago

I am a tax preparer. Two years ago, I worked with Santa Barbara Bank. Last year, they did not offer RAL. Would anyone help me with a list of banks that I could contact to offer bank products next tax season? I used tax wise, taxact and willing to change if software provider if needed.

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zborrero in Knightdale, North Carolina

49 months ago

I am a tax preparer. Two years ago, I worked with Santa Barbara Bank. Last year, they did not offer RAL. Would anyone help me with a list of banks that I could contact to offer bank products next tax season? I used tax wise, taxact and willing to change if software provider if needed.

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Louisiana Girl

49 months ago

TRXalliance, Republic Bank, River City Bank, Advent Financial, Refund Advantage!!!!!

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Belinda Hernandez in San Antonio, Texas

49 months ago

The Service Bureau I use does all that for me. Good price on TW software too. Try them, you will like them. Very friendly and helpful.

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Belinda Hernandez in San Antonio, Texas

49 months ago

The Service Bureau is www.dlcfastax.com

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Chris Tax in Los Angeles, California

49 months ago

Hi Belinda:

I remember you I am pretty sure from previous posts. You use a good service Bureau for RALs and for support questions. And their charges are reasonable. To me that is smart to have backup resources. Too many people get into this business with no clue of what they are doing.

My brother lives in San Antonio.

What i am senses from my RAL contract, things are in limbo with the IRS debt indicator not being provided. Bank products will exist next year. The types and the amounts are any ones guess

Chris

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Louisiana Girl

49 months ago

yes you are right, and thats the scary part being so close to filing season...with open enrollment so soon....we need to put on our thinking hats!

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Chris Tax in Los Angeles, California

49 months ago

Hi Louisiana Girl:

I have been impressed with posts. You have a pretty good thinking hat.

The key to being successful in tax business are:
1.keep expenses down
2. Market Market and be client driven
3. File clean returns. If it is to complicated get help or have client go some where else.

chris

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Louisiana Girl

49 months ago

Absolutely Chris....I have been impressed with you as well...I try to keep open that listening ear to know and see whats going on. In this years uproar with the banks and what not, you have to think outside of the box, and be on Q at any cost necessary. I just stay tuned so that I can know, and try and educate myself. I saw the demographics in my area, and I was 2%. i saw where I did great, and especially where I went wrong, but it only motivated me to work harder, and be stronger for the next season!!!! like they say....(There's no crying in baseball) same in the tax industry!LOL

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Chris Tax in Los Angeles, California

49 months ago

Million dollar piece of advice and You guys should be sending me money for this -- kidding

You have a client that is a bank product and they have a lien on all the money. Call the client up and say You are having a hard time and this return is on me. Also ask for referral of family members from him. You have a great chance of getting this.

Chris

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Louisiana Girl

49 months ago

another one guys is to MARKER, MARKET, MARKET...like chris said. this year we are giving away free totes, and calanders after the clients checks are mailed to them. something that i havent done before, but am anxious to do so!!!! I am a consumer, and anything that is free, i am on it! it could be free pens....people love FREE

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Chris Tax in Los Angeles, California

49 months ago

Louisiana Girl said: another one guys is to MARKER, MARKET, MARKET...like chris said. this year we are giving away free totes, and calanders after the clients checks are mailed to them. something that i havent done before, but am anxious to do so!!!! I am a consumer, and anything that is free, i am on it! it could be free pens....people love FREE

Louisiana Girl

I have re thought this. I am now thinking that putting the loan bank money on a debit card is a better idea than a check especially if we can give them a debit card the same time we do their return. The less back end work and seeing the client after the return is filed is better. But if you are cutting deals with money lender you will may want a check

The banks will be very creative this year on their products.

Chris

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Michael in Pennsauken, New Jersey

49 months ago

I am currently a student at Drexel University. I worked three tax seasons at a tax firm in Philadelphia. I have had the opportunity to process a great deal of returns. During my time there I was also able to manage my own office, as my employer controlled various smaller locations, which the more experienced interns managed.

During my years of processing tax returns I found friends and family refferring people to me. I would usually process their returns for free or a small fee. But this year I got the ideal of starting my own company. Obviously it would be small considering I go to school and have a great internship. But I have a small client base of 50 people. I know with a little marketing, and word of mouth through my small city I could AT LEAST process 100 returns this tax season.

So basically I am open for all tips. I have my llc name, my tpin, efin, etc... Now I am debating on which software to purchase. I want something effective, but simple, as I am just starting out on my own. I don't want to offer RAL, as that requires a more management and a different client base that I am not ready for considering I am in school still and won't be available every morning to deliver checks.

I know this was alot, but I just wanted to give a little background so your advice could be more personalized. I will take any pointers. I am open to every idea. ANYTHING would help. Where to get business cards, a good place to create a website, what is a good beginners software, seminars, classes, potential fees I may face ANYTHING!

Thank you!

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Chris Tax in Los Angeles, California

49 months ago

What kind of returns are we talking about 1040s only? I purchased Tax Act for my 1040 only Tax business. Call and get a demo Cd.

Chris

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Chuck McCabe in Richmond, Virginia

49 months ago

Michaue,

As an alternative to a bank to provide RACs, you might consider using a stored value credit card provider. There are several options and the cost is very low. You could charge less than the national firms to attract greater market share. You won't get rebates, but if you get more clients that will not matter. You can find these vendors on the IRS Nationwide Tax Forum website listed in the Expo section.

Chuck

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Mike Sash in Pekin, Illinois

49 months ago

To follow up, the card option on the surface appears to be a great form of disbursement. I'm still very uncertain about it. We've tried different card solutions in the past; all seeming to have a very low taxpayer 'take-rate', leaving ERO's scratching their heads at the end of the season wondering what to do with those boxes of unused cards. However, if you do decide to offer a card to your clients, make sure that you do your homework on the card you are handing out. Most cards will only allow $300-$500 per day to be taken off while nickeling and diming you in fees (main source of revenue for card providers). Bottom line, those who take RAC usually do it to avoid upfront prep fees. Those are the same folks that need their entire refund at once and require DD or Paper Check.

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Chuck McCabe in Richmond, Virginia

49 months ago

The cards do not have as high a take rate as RALs because most prior RAL clients want their money the next day and don't care what it costs. However, the card we used also came with 2 checks so the taxpayer had the option of writing a check for the entire refund and closing out the card. I believe Santa Barbara's card provides this option and I think at leat one of the non-RAL-bank options does as well. If there is no RAL option offered, the take rate for the card with checks should be the same as a RAC.

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Chris Tax in Los Angeles, California

49 months ago

The days of the big money instantly or in 24 hours are gone. Money will be issues in two payments on these products next year. The 24 hr or 48 hour payment will be smaller next year. The IRS is now not going to report debt indicator

chris

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Louisiana Girl

49 months ago

Chris...last tax season they had did away with the last paystubs....by the season starting in so soon, are they using those same guidelines this season?

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Louisiana Girl

49 months ago

Mike Sash in Pekin, Illinois said: To follow up, the card option on the surface appears to be a great form of disbursement. I'm still very uncertain about it. We've tried different card solutions in the past; all seeming to have a very low taxpayer 'take-rate', leaving ERO's scratching their heads at the end of the season wondering what to do with those boxes of unused cards. However, if you do decide to offer a card to your clients, make sure that you do your homework on the card you are handing out. Most cards will only allow $300-$500 per day to be taken off while nickeling and diming you in fees (main source of revenue for card providers). Bottom line, those who take RAC usually do it to avoid upfront prep fees. Those are the same folks that need their entire refund at once and require DD or Paper Check.

Mike is checkspring bank going to use a new method where my clients can actually use a 800 number directed by them to check on the status of their refund? last season was horrific, and I need to know so that i can do my best to help them know the correct dates. I don't have time as a courtesy to pull it up due to my high volume...I think we need to be able to contact them for a solution fast! PLEASE HELP ME WITH THIS ONE

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Chris Tax in Los Angeles, California

49 months ago

Louisiana Girl

Did u do loans with the last pay check stub? Any Dec loans?

On client last pay stub stub you cannot file on it. The client can go to IRS and get a W2 corrected W2 with with last pay check stub(after like Feb 15th). You cant file corrected W2 till after around Feb 15th. This is my memory of the general flow. I also have learned alot with my RAL Bank software contact.

Chris

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Louisiana Girl

49 months ago

hay chris:

No I didn't...I only used the W-2's! but i know that someone people use their last paystubs to file their taxes until the w-2 comes in...i'm assuming that is still a no no! are their any banks allowing christmas loans this season?

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Chris Tax in Los Angeles, California

49 months ago

Louisiana Girl:

Not that I know of. Alot of bank products defend on state laws. Some banks are charter by State other by Fed.

Please email me with your phone number or I will email you back with my phone number. I want to explain my RAL contract and how it works and see if you might be interested. I am in Calif please give me a good time to call you

chrislee552003@yahoo.com
Chris

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Michael in Pennsauken, New Jersey

49 months ago

Chuck McCabe in Richmond, Virginia said: Michaue,

As an alternative to a bank to provide RACs, you might consider using a stored value credit card provider. There are several options and the cost is very low. You could charge less than the national firms to attract greater market share. You won't get rebates, but if you get more clients that will not matter. You can find these vendors on the IRS Nationwide Tax Forum website listed in the Expo section.

Chuck

Thank you, this was very helpful. I found some great stuff on the irs website!

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Chris Tax in Los Angeles, California

49 months ago

Chuck is always knowledgeable and helpful

Chris

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linda in Lafayette, Louisiana

49 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.

Lies lies nothing but trouble with company. Still waiting on service bureau fee that was supposed to be issued since July 2, 2010 today is August 20, 2010. All I got from them is a bunch of lies.

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Pat in Tulsa, Oklahoma

49 months ago

You will have to re-register with the IRS and pay the $64.25 PTIN fee. A tax-compliance background check will take place with your registration. You should be able to keep your PTIN number.

If you re-register this year, you'll have until the end of 2013 to take and pass the new IRS test. It will also be a 3rd party proctored test. This will all be in addition to whatever you already do in California. The only people exempt from taking the IRS test are EA's, CPA's and Lawyers. The good news is that the 15 hours of CPE that the IRS will require per year will probably also apply to your CTEC CPE (if there is any).

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Chris Tax in Los Angeles, California

49 months ago

Linda:

What fee are u talking about? I assume on a bank product service bureau get the refund and forwards a balance back to you. On a tax return where you collect the fee you have to send money to service bureau. Also I assume service bureau would withhold your prep fee if you have an outstanding balance

Just asking questions

chris

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Marie in Atlanta, Georgia

49 months ago

Chris Tax in Los Angeles, California said: Linda:

What fee are u talking about? I assume on a bank product service bureau get the refund and forwards a balance back to you. On a tax return where you collect the fee you have to send money to service bureau. Also I assume service bureau would withhold your prep fee if you have an outstanding balance

Just asking questions

chris

In Linda's case Chris, she's talking about an additional incentive that TRX Alliance promised to ERO's who signed up last year. They told us that we could deduct what they referred to as a "service bureau fee" from each bank product we processed. At the end of the tax season TRX Alliance would send us a check for these "service bureau fees". We could withhold up to an additional $40 per bank product.

At the end of the tax season we began getting calls from the TRX staff asking us to renew for the upcoming season. During the call I inquired about the incentive check and was told that it would be mailed out July 1st and that my check is approx $10,000. Approximately 3 weeks later I called again and was told that the incentive check would go out July 31st.

Well now it is August 27th and still no incentive check.

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Chris Tax in Los Angeles, California

49 months ago

Thanks Linda:

I understand most service bureaus are very expensive to say the least

I see people that have no clue of taxes or the tax business going out and starting a business. They afraid to ask for help on a return that is way beyond them or turn down the client. It is not a hard business but you need to pay dues first.

I do not know if Belinda Hernandez in Houston is a shill or not. Double check everything you can in a business relationship.
chris

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taxservices in Mobile, Alabama

49 months ago

I am about to buy Petz/Crosslink's MSO. It is $2500 for 10 offices. I only have one office though. I'm trying to sub the other offices out so if you want to save some money on software, let me know. myeztaxrefunds@gmail.com
They use Republic Bank and SBB&T. I can do all the setup and even get your EFIN for you if you want. Perfect for people just starting out.

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Chris Tax in Los Angeles, California

49 months ago

Belinda:

You seem like a very nice person. I was very impressed with your comments. And that you got support, which is very smart.

Business is business and always double check before one signs a contract. Sometimes you have to go with your gut feelings.

Chris

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Cheryl in Brandenburg, Kentucky

49 months ago

TaxPrep in Chicago, Illinois said: Does anybody have any experience with TRX products? Are they reliable?

TaxPrep, I worked with TRX for the last 2 years, the software they used was Taxwise, but this year they have their own. Not sure how it will work. I alittle shaky on what to do myself, I am looking away.

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Cheryl in Brandenburg, Kentucky

49 months ago

zborrero in Knightdale, North Carolina said: I am a tax preparer. Two years ago, I worked with Santa Barbara Bank. Last year, they did not offer RAL. Would anyone help me with a list of banks that I could contact to offer bank products next tax season? I used tax wise, taxact and willing to change if software provider if needed.

I have been with SBBT for 16 years and this past season I had to go with Chase. At this time Chase is no longer in the run. SBBT told me they will be offering RALs this year, so you may want to check with them again.

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zborrero in Raleigh, North Carolina

49 months ago

Thank you for your help. I am going to call them.

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Cheryl in Brandenburg, Kentucky

49 months ago

Belinda Hernandez in San Antonio, Texas said: If you want Taxwise at a very good price, I get that with my Service Bureau. It is the Power Package and I get it for under $400. The support was great, they help me whenever I have questions, and they help with the training. They also helped me with the bank situation and use several banks. I will be glad to share the info with you if you are interested.

Belinda,
I am very much interested! Please email me at: dutchr@insightbb.com

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