Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/123770
Reviews For Your Firm TAX COMPLIANCE: TRADITIONAL WORKFLOW TaxWise, by CCH Small Firm Services 2013 OVERALL RATING 4.5 information from scanned docuBEST FIRM FIT ments like W-2's and 1099's. TaxWise is a traditional tax application which is designed for high • TaxWise includes a "training mode" so new preparers can volume 1040 and business returns which can be purchased with a learn how to use the application as well as handle electronic fling range of integrated applications. rejections and other issues. • Te application supports prepaSTRENGTHS ration of returns in English and • Includes integrations into other Spanish, and firms can access applications such as the PaperSpa n ish versions of for m s, less Plus document storage tool, sample client leters, client supa depreciation application, a trial b a l a n c e t o o l , a n d c l i e n t port, and can speak with technical support in both languages. accounting applications. • An available Scan and Populate • TaxWise Online, a web-based version of the application availtool (TaxWise Scan&Fill;) allows able since 2006, is an option for f irms to ex tract and import Drake Tax by Drake Software 2013 OVERALL RATING 4.75 BEST FIRM FIT Firms who prepare primarily 1040's (including multiple locations) who need to also prepare returns for other kinds of entities. Users who want a value-oriented application with a comprehensive suite of solutions for a single price. The company's most popular bundle, Drake Unlimited, includes all individual and business forms for Federal and State, unlimited e-fling for Federal and State, as well as free online training, a Tax Planner, Client Write Up, Client Status Manager, Drake Document Manager, a preparer website, Bank Sofware, and unlimited telephone support. Tis bundle also includes 4.75 practitioners who want to move their tax application online. • Multi-office and staff management tools are available. POTENTIAL LIMITATIONS • Online tax organizers and client portals are not available for this product. • Te application has limited tools for on-screen review of complex returns. SUMMARY AND PRICING TaxWise ofers fve bundles which start at $1,049 which include plans with both per return electronic • Bank product support is built BEST FIRM FIT • Small to mid-sized firms who into the application need a tool to prepare a high • Included client invoicing system with optional credit card accepvolume of individual returns as tance. well as some business returns • Fir ms who need integ rated • Available integrations with tools solutions for Scan and Organize, for tax research, fixed assets, tax research, fixed assets, data document management, W-2 and 1099 preparation, import from download from fnancial instituQuickBooks, document storage tions, QuickBooks, and bank and import of securities gain/ products. loss data • HomeBase screen simplifies STRENGTHS navigation and allows users to • Support for all major types of see the status of each client on entities for Federal, State, and the list at a glance some local jurisdictions. filing fees as well as unlimited electronic filing. A premium package which includes all individual and business (1120, 1120S, 1065, 1041, 706, 709, 990, and 5500) for Federal and all States, all electronic filing fees, as well as a research library, a fxed asset manager, a trial balance utility, as well as applications for client accounting and document storage is $3,349. Te TaxWise Scan&Fill; application is available separately, and pricing starts at $760. (800) 755-9473 www.TaxWise.com Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/10912490 continuing education, free preparer • Mu lt i-of f ice ma nager s y nc websites at www.1040.com, and system; free basic websites for will integrate with the company's frms. optional SecureFilePro (www. SecureFilePro.com) portal solution. POTENTIAL LIMITATIONS • Limited internal collaboration STRENGTHS tools for returns requiring mul• Top rated live support and high tiple preparers, review processes customer satisfaction ratings • Afordable all-inclusive pricing SUMMARY AND PRICING includes al l entities, states, Drake is a very popular tax complie-fling, tax planning, document ance solution, and continues to ma nagement, a nd w r ite-up make enhancements to its oferings system with live & ATF Payroll to make them more appealing to • New web-based 1040 option and existing and new preparers. The pilot project for a hosted version solution is designed for speed of of the full Drake sofware. data input using only a keyboard, • Integration with GruntWorx for and although the interface is not a paperless and automated tax prep work of art, the speed at which Intuit ProSeries Professional 2013 OVERALL RATING Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/10912485 preparers can use this tool is very impressive. Drake Unlimited includes all individual and business forms for Federal and State, unlimited e-fling for Federal and State, as well as free online training, a Tax Planner, Client Write Up, Client Status Manager, Drake Document Manager, a preparer website, Bank Sofware, and unlimited telephone support for $1,495. (Significant discounts are available for early renewal.) A pay per return package is also available for $285, and includes 15 returns, with additional returns available for $19 each. 800-890-9500 www.DrakeSoftware.com Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/10912487 POTENTIAL LIMITATIONS • Intuit does not currently ofer an integrated client portal option for any of its tax products • Limited support for multi-preparer return collaboration and review pricing is also available for the overall ProSeries system, and includes a $275 registration/sofware fee, plus per-return charges of $25 per 1040, $20 per state individual return, $41 per Federal business return, and $24 for each state business return. More information and pricing data is available SUMMARY AND PRICING Pricing for a 1040 and all-states on the company's website. package, with unlimited e-fling, is 800-934-1040 $1,649, with the ability to prepare www.proseries.com business returns on a pay-perreturn basis. (Network licensing is sold separately). Pay-per-return May 2013 • www.CPAPracticeAdvisor.com 17