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6 Replies Last post: Nov 21, 2008 8:46 PM by Elite1

Question for Tax Preparers/CPAs

Oct 19, 2008 8:35 AM

NoBullFunding 223 posts since
Oct 6, 2008

I am going to expand my business into tax prep this coming season. I did it a few years back and used TaxAct. It only cost $100 and seemed to fit my purposes just fine. Does anyone know of a better tax program? I'm curious to know what they can do that warrants spendings thousands instead of the $100 I plan on spending for TaxAct. One area I know for sure TaxAct didn't address was AMT which was a little frustrating.

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DerekCPA 1 posts since
Oct 24, 2008

1. Re: Question for Tax Preparers/CPAs Oct 24, 2008 4:54 PM

Take a look at Intuit's product called Pro Series Professional. It's a good solution for small to mid size tax practices. They offer a package that is pay as you go. For $250 flat fee plus a per return charge. It requires less investment up front and the per return fees can be passed onto your clients. It is for people doing 33 or fewer returns a year. It could be a good option for your first year but has the room to grow in the future. It haven't used it yet but am in a similar growth situation and this was the best solution I found so far. Below is a link to pricing info. and you can demo it for free.

http://proseries.intuit.com/products/professional/ppr.jsp?show=pprPrice

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NoBullFunding 223 posts since
Oct 6, 2008

2. Re: Question for Tax Preparers/CPAs Oct 28, 2008 8:38 PM

in response to: DerekCPA

Thanks Derek, I'll check that out!

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ccsta3030 1 posts since
Jul 25, 2008

3. Re: Question for Tax Preparers/CPAs Oct 29, 2008 9:09 AM

I have another question for tax prepare and CPA's. What do we think is the ideal number of business bank accounts you should have?

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Tori 43 posts since
Aug 15, 2008

4. Re: Question for Tax Preparers/CPAs Oct 29, 2008 4:10 PM

Hi NoBullFunding,

Amy Vetter of Technoloby In A Box will be joining the SBOC on December 9th. She is a QuickBooks expert and can address your AMT concerns. You can ask your question now and then check back after Dec 9th for her response. Or you can ask it the day of. Hope you can attend!

http://smallbusinessonlinecommunity.bankofamerica.com/thread/10209

Best of luck
~Tori

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Santa Fe CPA 53 posts since
Oct 10, 2007

5. Re: Question for Tax Preparers/CPAs Nov 4, 2008 1:17 PM

in response to: ccsta3030

In my opinion the maximum number of bank accounts for a small busines would be 3.
1. An operating checking account for all revenue and expense transactions,
2. A payroll disbursing account for wages, salaries, and employmenrt taxes should you have employees (including S-Corp Officers/Directors.)
3. A savings account

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Elite1 63 posts since
Nov 14, 2008

6. Re: Question for Tax Preparers/CPAs Nov 21, 2008 8:46 PM

I may be a little late responding to this...but Drake has excellent software at a reasonable price.

Tanya
Elite Financial Services, LLC

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Question for Tax Preparers/CPAs

Oct 19, 2008 8:35 AM

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