TurboTax teams up w/State Farm

[AZ-Tax]

Yep, makes you wonder about the quality of professionalism behind State Farm and their Agents.

http://www.statefarm.com/landing/tax.asp

[PIGLEE]

That is hard to believe, I can not believe that State Farm did that.

[erchess]

Unless you think Turbo Tax is worse than other computer programs and websites aimed at self preparers and indeed worse than the average result self preparers would achieve with pencil and paper, then it's hard for me to see how a Tax Pro can challenge the professionalism of State Farm Agents while using software made by companies that also make software for self preparers.

[AZ-Tax]

Maybe SF is reducing their Agts from Professionals to..

Maybe State Farm (SF) is becoming a DIY with the financial products they offer like mutual funds, insurance annuities etc. in that case State Farm may have reduced their Agents from professionals to calling an 800 number for auto insurance. Any Professional Financial Advisor and even Professional Securities Rep would recommend their client a Professional Tax Advisor. Key word: Professional.

[Jiggers]

State Farm, Auto Dealers, Furniture Rentals, etc.

I wonder if all of those places offering income tax services so the refunds can be applied to their products are all complying with the new regulations regarding disclosure?

I really doubt it.

And anyone that seeks their services to prepare their return don't need to be mine.

[David1980]

I wouldn't be surprised if the larger chains are complying. A lot of the software is basically building it into the software (IE, start a new return big screen prompts you to get stuff signed.) Also the larger chains where you have 100+ locations of some regional store doing it for that purpose are more likely to follow through on 7216 stuff.

However, the due diligence requirements for things like EIC are probably getting totally ignored. 7216 compliance is a piece of cake in comparison.

[JohnH]

I noticed something about TurboTax in the drive-up window at Wachovia bank yesterday. I guess they're all getting into the act.

[veritas]

Like a good Neighbor.

My State Farm Insurance agent who is also my neighbor.

I told him we didn't really like my vendor competing with me\us.

He said something like "your in good hands we got you by the blank".

[ChEAr$]

My State farm agent

is also my landlady. I rent from separate premises from her of course, but building is in
her complex.

If she has this and pushes it, she's going to lose a tenant, and much more rent than income
she might generate from doing tax returns.

Now then, after writing the above, I follows AZ's link and found that State Farm web site is simply
selling software for download. This doesn't sound like anyone can walk into a State Farm office
for tax preparation. Is that right?

[JohnH]

My State Farm Insurance agent who is also my neighbor.

I told him we didn't really like my vendor competing with me\us.

He said something like "your in good hands we got you by the blank".

Sounds like what the urologist said to me right before my vasectomy.
I wonder if your insurance agent had the same smirk on his face that my urologist did.

[FEDUKE404]

Over-reacting?

My credit union is also pushing associated use of TurboTax software.

Many places are now doing so.

Perhaps you are just reading a bit too much into the "marriage"??

But thanks for another potential reason for me to tell my former SF agent to take a long hike (story shall remain untold)

FE

[taxxcpa]

State Farm

You're in good hands with Allstate.

[ChEAr$]

I'm glad

You're in good hands with Allstate.

you clarified that. It's "like a good neighbor" for State Farm.

These alliances between softwre and State Farm, banks, etc, probably results in a small
commission for each copy sold, maybe only a dollar or two, but nationwise that would add
up.