UltraTax users?

[Zee]

Is anyone using UltraTax? I'm starting a new practice, and will be using Creative Solutions Write Up software. As such, I thought I'd try UltraTax because of the integration (same company). But, even using pay-per-return, there seems to be so many add-on charges. For example, it appears that it's an additional $5 to create a PDF return to email and there's and 1040 e-filing is $2 federal, $1 state. Other entities are more, $5 federal, $2.50 state. Gosh, with most others offering free e-filing and pdf creation it sure seems like their pricing is unreasonable. What makes UltraTax worth the high costs?

[BOB W]

Cs

... In nut shell, "SPEED".

I have been using them for three years now and I love it. When it comes to price they are probably the highest but you have to equate that price to productivity. A new practice may have a hard time making it work cost effectively, but in the long run it will allow you to grow faster. Many other types of businesses have a high cost of getting started but our business is a low cost startup.

[JoshinNC]

What does UltraTax cost?

I've never used the program, we use Drake, and love it. If you buy before the end of May it's $995, there is no e-file fee and works great for us. While you don't have the integration with Creative Solutions, it does include a 7 year tax planner for use with clients (helps illustrate IRA contributions and income fluctuations well) and a document storage module (paperless office capability). Check around, I don't know that integration is a key as much as cost, service and overall product design are.

[BOB W]

Cs Cost

Josh> Actually I don't know the cost because I've been on a buyout lock-in figure from another tax program. I've submitted my data to CS and now I will be paying regular fees starting next tax season. They will be calling me soon with my renewal fees.

I will probably be paying in the neighborhood of $8,000 +. But I have a lot of their programs and all are network versions. UT( all tax programs), CBS (client write up), CSA ( my G/L with g/l, p/r atf and pr live, file cabinet, fixed assets, internet client CBS, Billing program, and full report printing capablity. There is probably others that I have not considered.

I will be interested to see what my bill will be this year but it will be worth every penny in time savings. Just so that you understand where I'm coming from, I do 450 personals, 80 Entities( all with full monthly writeup). My wife does the monthly entries and bank rec, I do everything else. My wife spends about 2 weeks a month doing her thing. During the non tax months I work about 3 wks per month.

I contribute my low work hours to CS's intergrated programs. If I did not have these programs I would have to work more and definetly higher help during tax season costing $5,000 or more.

[JoshinNC]

Wow, $8000!

I'm not going to say it's not worth it, because I've never used the software, but that seems really steep.

My total software costs for 2006 are about $1400. We use Drake for tax prep and planning, and Peachtree for write-up, payroll, g/l, billing, etc. However, my practice is fairly new, 125 individual returns, about 20 entities, of which we do books/payroll or both for and also offer insurance and investment services. Maybe as we grow (God willing) we'll need something with more integration.

We've been in our current location for 2 seasons now, and doubled our revenues in the past 12 months. At this rate I'll be retired in 5 years! Truthfully, I haven't run into any problems with our current setup, but growth has a tendency to identify your weakest link.

Have a great "off-season" and enjoy the golf on LI (got a client coming down from Smithtown next week to play here in NC)!

[BOB W]

Smithtown....

... is two towns away from me (5 miles).

Most of my practice years involved non intregrated programs. Intregration started about 8 years ago and each year it got better until Creative Solution bought out my prior tax/gl programs. That is when I went full paperless and full intregration of all my programs. The last three years has been great.

With intregation and paperless environments I find I have no need for additional employees. That could save me an unlimited number of dollars. When is it cost effective to have a totally intregrated accounting & tax programs with a paperless office, It is hard to say? But at some time in the future, when you NEED to be fully optimized, it will be very time expensive to convert your accounting clients to a new system and possibly the same with your tax clients. In the year you switch tax programs substantial time gets devoted to all carryover items- amt, sched D, state refunds, est tax, investment int exp and such. Believe me, it is not fun.

Usually by the 5th year you need to make the switch and you will still spend time and money when you least have it available. Stress, stress and more stress.......By the way, most change-overs will take 2 years to FULLY complete and get acclamated to all the functions.

Josh>>>> when you say WE, how many people make up WE......???????????

[theresa d]

bob where are you?

bob i'm also close to smithtown-east northport. where are you located?

[BOB W]

Ocean ave Ronkonkoma just south of the Expressway exit #59

[JON]

Pdf

That is an option to print to a PDF file and then there is no charge to Email a PDF file. There is a charge if you use them to E organizers back and forth. You need to call THEM to understand their pricing. They will never hold themselves out as cheap. Their file cabinet solutions was first and still the best. They have bells I do not use. The "virtual office" and more.

[Zee]

UltraTax PDF Charges

That is an option to print to a PDF file and then there is no charge to Email a PDF file. There is a charge if you use them to E organizers back and forth. You need to call THEM to understand their pricing. They will never hold themselves out as cheap. Their file cabinet solutions was first and still the best. They have bells I do not use. The "virtual office" and more.

OK. I just talked with UltraTax. They explained that the $5 charge is made if their file cabinet solution (another $1500 option) is used to print and email the return. Is that correct? If I understand your post correctly, the UltraTax software does allow a user to create and email a pdf file to a client directly (the risk is security). So, I have another questions I have a website with a secure filing cabinet (not UltraTax), could I send the pdf to my website and have the client's pick the return up at my website and avoid this $5 charge as well (for better security)?

[BOB W]

Email

I have File Cabinet and I can email password protected .pdf files at any time. Maybe if you don't have FC there is a charge, I don't know.

[JoshinNC]

We is 2

My wife and I, very similar to what you described. She handles all payroll and about 50% of write-up. I do all entity returns, 90% of individual returns and the insurance/investments. Hope to add 1 employee, but no more, next year.

[Matt Sova]

UltraTax

I have been using Creative Solutions software since I opened in Nov 1994 and would never think about switching. I, like Bob W, use quite a bit of their software. UltraTax, Write up Solutions, Fixed Asset and File Cabinet. I use their Client Bookkeeping Solutions for my practice, but have not been able to sell it to clients. Most clients were already on QB or Peachtree and not looking to switch. I spent over $10,000 on software last year and probably $7,000 of that was with Creative Solutions. UltraTax last year was over $5,100 for the all the entities and States that I get.

Now, I know that sounds like a lot of money to quite a few people out there, but it makes up for that cost in efficiency and other cost savings. For instance, all 1040's are e-filed on the practitioner PIN method. So the gov't copy of my return is 5 pages Invoice, Transmittal letter, privacy statement, mailing instructions and the 8879. If they owe money then it is 6 pages with the 1040-V. My copy of the return is printed to the electronic file cabinet produced by CSI. And there is the client copy which is all pages that are required (non-required pages like asset schedules are not given to the client). Back in the day I would have 3 sets, the govt and client copies being pretty much identical and then my copy which had everything available to print. Tons of paper, rent for space to put in file cabinets, etc, etc.

The other thing I look at is I have about 600 clients between 1040's and entities. That relates to a cost of less than $9/client for what is probably the best software out there. As my practice grows, my cost/client drops even more.

Matt

[BOB W]

Matt..

.... could you give us your manpower makeup. I think some readers need to see the ratio of clients to employees, they will see that CS's cost can be inexpensive.

[Unregistered]

Yeah it is me,

I use Lacerte and Creative Solutions for my write up and both are wonderful. A little exepnsive yes but still worth the price. I just acquired a practice who used both ATX and TAX WISE and I am not falling in love with either . I switched to Lacerte ASAP. I guess it was first and for most comfort level. I knew what I would / could expect.