TaxAct acquired by H&R Block

[FEDUKE404]

Speaking of taking out the competition.....

http://www.webcpa.com/news/HR-Block-Acquire-TaxAct-55976-1.html

And this related comment:

"Despite all this, the fact remains that H&R Block remains predominantly a retail, bricks-and-mortar company. And unfortunately, the market is likely to remain stagnant. So while H&R Block is making the necessary moves to transition its business, its future is still uncertain. After all, even Blockbuster Video made several attempts to change its business model, and the outcome was still Chapter 11."

FE

[Nashville]

You Got Box

"You Got Box. I Got People."

Another effective advertisement bites the dust. Now HRB customers can "Got Box" too.

And I don't blame Block. TurboTax has been eating their lunch in recent years (and ours too, no matter how many TT horror stories we tell).

Speaking of buying the competition, I'm sure HRB was the biggest customer for TaxAct. When discussing software on this forum, the overwhelming number of us have ProSeries, Drake, TaxWise, ATX and others, with only a scant few having TaXAct.

When you have one very prodigious customer, that customer owns you anyway, regardless of who your stockholders are. It becomes easier for the shareholders to cash in their chips rather than to jump through hoops for the customer. I think this is more of a "white knight" situation than a big fish swallowing a little fish.

The "Box" is winning. Perception rules the world. Those of us in the business know better, and know we can serve the needs of our client better than "Box." But who can compete with the appeal of a TV ad that can make you smarter than a CPA for $50? I agree with the Block approach not to abandon their bricks and mortar. I foresee a backlash from people who are getting weary of computer headaches and complications such as Vista. Many of these people are uncomplicating their lives and signing off.

[appelman]

I'm holding my breath!

As a long-time TaxAct user, I'm just holding my breath. I hope they fare better than LaCerte did after Intuit grabbed them.

[JohnH]

I take that to mean that you're hoping your competition is going to be nice to you...?

[Nashville]

You'll Be O.K.

As a long-time TaxAct user, I'm just holding my breath. I hope they fare better than LaCerte did after Intuit grabbed them.

I think you'll be O.K. TaxAct may go through a metamorphasis of one kind or another, but you will have a reliable product so long as Block allows a professional version. And they will -- technologically it is a very small leap (and therefore inexpensive) from a consumer version to a professional version.

Remember, Intuit already a product competing with LaCerte. I don't know how successful their marketing strategy has been by offering both a Cadillac and a Chevy.

[Lion]

TaxWorks

Didn't Block buy Red Gear's TaxWorks and related products a few years ago? How many tax prep products do they need? Or, are they buying them to put them out of business or to gain their programmers or...?

[gkaiseril]

Block has been selling home tax prep under the names of Kiplinger's Tax Cut, Tax Cut and @ Home and offers an on line service too.

[MAJ]

TaxAct - TaxWorks - The room is spinning...

Ok.. Used to use TaxAct - They do have a Pro Version. It was like $99 for Federal and $79 for an all States fersion. E-File was $500 extra if you did more than I think like 90 returns. Used them for about 4-5 years. Moved to TRX.

Before them it was Parsons Technology...

Now I am looking for something BETTER.. Something with direction. Looking for that direction from you! TaxWorks and TaxWise both sell a version that TRX boxes.

Support this year -- What support - Horrible.

[FEDUKE404]

TaxAct observation

FWIW - TaxAct (Professional version) has been moving up quite well the last couple of years.

Sure, it does not have everything that the far more all-inclusive ( = expensive ) programs offer, but it is becoming increasingly competitive in both price and forms/worksheets available. TaxAct also offered some nice (pre-season) efile packages for this year. For a preparer with suitable knowledge skills, the "forms" method works quite well. Something like TurboTax uses a lot of fluff and bells/whistles with its interview method, unless you wish to switch to the forms mode. But for a taxpayer doing his own returns, that can be a positive selling point.

I've found the TurboTax Professional software to be useful but a tad on the overpriced side. Again, that is a factor of how many returns you prepare in addition to how many have a really unusual situation involved.

Of course, what TaxAct will be next year (post HR Block takeover) remains to be seen......

FE

[luke]

not TAXWISE

Ok.. Used to use TaxAct - They do have a Pro Version. It was like $99 for Federal and $79 for an all States fersion. E-File was $500 extra if you did more than I think like 90 returns. Used them for about 4-5 years. Moved to TRX.

Before them it was Parsons Technology...

Now I am looking for something BETTER.. Something with direction. Looking for that direction from you! TaxWorks and TaxWise both sell a version that TRX boxes.

Support this year -- What support - Horrible.

I have used Taxwise since 2000 - i would STRONGLY NOT recommend them - past three years Customer Service has been totally unacceptable! (HOUR s long waits on hold - incorrect answers given to simple problems - "we'll fix that NEXT year - NOT!)
even without last minute tax changes - state packages are always EXTREMELY LATE - my state business pkg last year FEB 17th!!!!

[MAJ]

Keep it coming..... Please...

The Pros & Cons of packages currently in use is helpful (for us all).
Please keep it coming..

TaxWise - Gotcha...
TaxAct - Article "SAYS" that HB will offer both items ..... Not sure if that meant retail only or Professional, or both... TIme will tell..

Drake - I want to hear some more about Drake -- Pros / Cons - Also ProSeries.

I'm a forms kind of guy - although the questions are good for new clients to be sure nothing is missed...

Thanks again -- MORE - MORE -- What about ATX - Their web site does NOT do them justice... Could use some Spice and marketing skills..

[Edsel]

Previous Posts

Maj, there is more information on this board than you have time to read about tax software packages. Just go back in history and there will be tons of discussion on this subject.

Some of it may be dated, for example, comments about ATX and LaCerte may have been made before they were acquired. The board gets very active around May-June every year after we get through with the Apr 15 deadline and when the software companies are pushing us hot and heavy to renew for the succeeding year.

I for one use Drake and am very happy with them. It will not do what LaCerte or Creative Solutions will do, but they are 1/3 the price. In general, most of us (me in particular) are not supportive of situations where tax software gets bought out by a larger entity. The huge companies are suspected of buying competition and wanting to eliminate packages (whether true or not) , as well as lower their levels of technical support, etc.

Two "home-grown" packages which are locally owned, price competitive, are Drake and TaxSlayer. Both of these have excellent technical support - no waiting on the phone usually longer than 5-10 seconds, etc. Some years ago I used ATX and got tired of their "too big to serve" responses.