TRX - Tax Exact Pro

[MAJ]

As a follow up to the last post I'd like to share some details.

If all goes as planned, there will be a new Software package / Player on the market this winter ready for the 2011 / 2012 tax season. Fresh breath, fresh life.

http://www.trxalliance.com/ is the website for you to read up on the details.

1) The software is easy to follow.-
2) Colorful. Fields are colored based on various factors (required, estimated, etc).
3) Auto Error Check..
4) File cabinet built in - Print or file a return & PDF copy automatically saved.
5) Scan from software (Twain only? Hints to support Scan Snap already in! 8-)
6) Network Ready and multiple PC support.
7) Forms broken up Income, Adjustments, Taxes, Credits - Just like the 1040.
8) Includes Business returns too!

Features: from their web site
Includes all available Federal, State, and City MEF Forms for the 2011/2012 tax season
E-File costs included for Federal and State
Complete rebrand ready for anyone wishing to resell TaxExact
Available with a W-2 barcode reader
After the Fact Payroll offered with the tax software
Features a forms entry mode and a full interview mode
Toggle between English and Spanish from within the tax return with just one click
Available with Puerto Rico Hacienda and Federal forms
Ability to print checks from any location
Convenient CRM (customer relations management) software available for service bureaus opting to use it
Professional File Center/Customer Portal has comprehensive features such as multi-office management and setup
Available with Satellite Office Management to manage service bureaus and allow tax return support between satellite offices and managing offices

You can mark a field as Estimated (I miss that).
There's a Client Notes feature too. Great to keep track of loose items.

Check it out - You have NOTHING to lose! More to come...

[erchess]

My TRX Experience

As I have posted here before, I used the late Intellitax Program through resellers my first two years in the business. I used that program only for my 1040s and I used PPR version of CS Ultratax for my entity returns. For my second year I switched to TRX because they were cheaper and yet I found their customer service better than that of the former reseller which I won't mention because they are out of business anyway as far as I know. The first reseller actually had me sold on a system whereby if (as was always the case) the not very knowledgeable first tech couldn't help me in five minutes I had to wait for a more experienced person to call or email me (my choice of which). That took from 45 minutes to the next day and on one occasion when it took a day my issue was that the software would not open because Intellitax depended on Windows Service known as MSSQL (I think that is the name) and a tech who worked on my computer turned it off because neither of us knew why it had been turned on. I'm sure everyone understands why I didn't stay with them. TRX by comparison was great. Every time I called I got through in less than an hour to a representative who either solved my problem or handed me immediately to someone else who solved my problem and all in one phone call. They did answer questions both of "How do you do x in this software?" and "What is the tax law applicable to this fact pattern?" although not every answerer was equally adept at both. But what impressed me was on one tried to bs me - no one was afraid to admit not knowing an answer and take me to someone else while each person always knew who had come before so I was never sent back to the same person. On I think one occasion when on a weekend I had a question about AMT (both the how in this software and what are the rules questions) they had to let the supreme tax expert email me which he did the next day after consulting an IT person.

Not long before Intellitax was bought and taken off the market, I decided to make a switch from two programs to one and I went to Drake. Their customer service is everything that at TRX is plus the fact that Drake invariably answers the phone by the third ring. Meanwhile my biggest concern about TRX is that they kept emailing me for two years as if I had been a customer the immediately previous year. They finally stopped after several strongly worded emails from me.

I can't justify the Drake price tag of over $1K for everything any further. I'm going to miss their tech support if I leave them. Renewal of their everything package is out of the question but I am looking at their Pay Per Return and TRX. If anyone knows of a pay per return with a fee of under $500 to start and under $100 per return or if anyone knows of a package that has 1040 plus entities for under $800 I'd love recommendations. Electronic filing needs to be free or built in with the per return fee.

[anu31402]

If I may suggest, why don't you just raise your clients' price a little to cover the cost of the present software? The incremental cost to clients would not be much for them to leave your service. The reason is, I tried Drake in 2009 tax season when ATX was bought by CCH and did I regret it! I am very much back to ATX because I found Drake is not just for me and ATX tech and customer service have VASTLY improved. I still pinch myself for leaving in the first instance. ATX would have to do something "crazy" for me to leave.

[erchess]

Good idea anu

I may do that but if I do I will go with the pay per return on Drake.

If I do switch I will not convert anything. I will simply treat every client as a new client.

[MilTaxEA]

You can download the TaxExact demo for evaluation purposes:

http://www.trxprotwsupport.com/downloads/TaxExact2011/TaxExactPro.exe

I'm downloading it right now to see if it is any good. I currently use TaxWorks, but am considering switching over to another package (probably Drake) after next tax season.

[oceanlovin'ea]

I use TaxslayerPro

I have used TaxslayerPro since 2001. I have been very satisfied with it. The regular price is $995. If you renew before April 30th it is $825.


It includes 1040, all states and business returns. Efiling is free. Customer support is super. The business returns I do may not be of the same caliber as some of you others do. So far most of my business returns have been very simple s corps who are incorporated because of laws and are not complicated businesses. So I can't say how it would handle more complicated returns. Some other users might be able to say.

They have a bookkeeping program too. It is $99 extra.

I am trying out Drake this summer. Drake has its own bookkeeping program and I want to see if I like it.

I just get tired of all the hassles QB gives us about renewing and only having access to payroll if you are signed up for payroll service. i just do after the fact and don't need that service.

I actually have TRX 2010 program. I didn't use it at all. I can put some returns through that program to see how it goes. But it sounds like this program you are talking about is totally new.

I already renewed with TaxslayerPro for 2011. But I wanted to check Drake out so I will know if I want to buy it instead next year.

Linda, EA

[MilTaxEA]

I'm curious what others think of TaxExact. After going through it for a few minutes, it seems *very* similar to TaxWise. They clearly wrote the GUI with Java, but the forms, flow, and terminology seem to be nearly identical. Am I the only one who thinks so?

[MAJ]

TaxExact

The software is in the middle of a re-write and I don't know if it will remain Java based.
Take a look at their Business Management software as well.. Imagine the end product a mix of the two products combined.

As for TaxWise - I used TaxWise from TRX for the 08 season. I do not recall it looking like that.. but then again - it was a re-brand.

Look at the features {Fed/State with E-File} all business class returns without e-file for $299.00 -

I am a small guy. I only do 125 +/- returns a year. Building. It works for my bottom line. I don't know what Drake will provide me at 3 times the price? No offense to Drake. I understand it's a great program from all I've read (and seen). I have considered it a number of times.

I am looking for a software company that understands the flow of data and the trials and tribulations that we go through. Ideally, work smarter and for less! Can't go wrong there.

I am already committed to TaxExact for next season. I hope to provide as much insight as possible to the team. It would be ideal to hear some contructive criticism for those of you that have reviewed the software. Take into account, this is not the final product but review the features offered and also work in some of the What's Missing Pieces too!

Good luck to all....

I'm curious what others think of TaxExact. After going through it for a few minutes, it seems *very* similar to TaxWise. They clearly wrote the GUI with Java, but the forms, flow, and terminology seem to be nearly identical. Am I the only one who thinks so?

[dtlee]

A bit clunky

My first thoughts are that it looks okay and some of the featues are nice. I like the screen layout, but some of the prompts are a bit overdone and may take some getting used to. I may not be able to get used to telling the software I want to add 1 W2 every time I ask it to add a W2

It initially kept telling me to update it but after downloading, it could not find where it is installed. Apparently you must ignore that warning the first time and run the software.

I could not find a way back into "interview mode" after I got out of it.

It looks a lot like a work in progress. I don't like how it retained the two W2s I entered but lost all the employer and income information that was on there. I kept getting form 8863 despite not needing it, so I added information for it. It was still printing empty. Box 13 on that form apparently does nothing.

I like the ability to preview the return but would prefer that the the actual data be a different color from the form background. A blue color would stand out well, or possibly red. Perhaps since it is a pdf, they can't do this. The font is small. I know that some preparers like this size, but it especially looks odd on the South Carolina return next to the large "00" in the cents column.

As mentioned elsewhere, I am very concerned about the MFS split features of the software I evaluate. I could not find any states except South Carolina to use, but it appears that the MFS comparison excludes any state information.

My initial impression is that this may be okay for me as a backup package for me, but not as my main software.

[appelman]

Have you looked at TaxAct, erchess?

http://prep.taxact.com/products/bundles.asp

They don't do 1041's, but other than that, they're in the price range you're looking for, depending on just what your needs are.

[dtlee]

I have used TaxAct

In previous years, I have used TaxAct when Drake was particularly stubborn about preparing a 1040 return incorrectly and I could find no workaround, but I was uncomfortable with it as a backup to Drake primarily because it does not do entity returns. I cannot justify using it as my primary software since its support for MFS analysis leaves much to be desired.

I am expecting that I will eventually end up back at ProSeries which should cost me about $2,000 for what I am now paying $1,600 for with the packages I am now using. At least I will have only one package to learn. I need to test their software a bit more to convince myself that I can live with their MFS deficiencies as well.

[appelman]

TaxAct offers all entities except trusts and estates.

And I can't say I've ever had any troubles with their MFS handling. Also, they're one of the few outfits that are willing to give you workable guidelines for e-filing MFS and RDP in community property states.

[erchess]

Tax Act

I don't currently do trusts and estates but I plan to add them after the upcoming season so I don't think I will go with Tax Act but ty for the info. If I had to make a decision right now I would go with Drake's Pay Per Return. I know I wouldn't get their accounting program, which I never use, and I'm not sure about the filing cabinet which I would like to get around to using or the tax planner which I won't use as long as it is nothing more than an Excel Template that makes me supply the presuppositions about what future rules and future income and expenses of the client will be.

[erchess]

Drake Website

With the full version of Drake you get a website for self preparers. I've never gotten any dollars out of that feature but I've never promoted it. Of what value is it? I'm going to ask the same question on the Drake Forum so those of you who use that forum can answer wherever is most convenient for you.

[David1980]

With the full version of Drake you get a website for self preparers. I've never gotten any dollars out of that feature but I've never promoted it. Of what value is it? I'm going to ask the same question on the Drake Forum so those of you who use that forum can answer wherever is most convenient for you.

Well, that depends from what perspective you're looking at things. Does Drake make any money off someone who goes to their 1040.com and gets randomly selected to a specific customer's website?

If yes, that's good for them. The DIY market is perhaps a bigger growth area, so Drake may want to have a hand in it.

Why do it the way they do? Well, if they just came out on their own it would be seen as competing with their customers. In much the same way intuit tax prep software has customers that compete with intuit's DIY offerings like TurboTax.

So in a nut shell, it allows Drake to compete on the DIY front, while /claiming/ that they are not competing with their paid preparer clientelle as they give a cut to whatever random customer is selected when the individual DIY customer starts a return.

Last I heard, Drake makes 20%, preparer makes 80%, (if they do bank products do those revenues go 100% to Drake?) But it establishes them in the market and those percentages could be changed if needed.

But then again, who doesn't compete against their paid preparer customers? It's just something you accept and move on. Doesn't bother me.