CCH Acquires Taxwise

[djack1040]

In case you missed yesterday's announcement.

Can't get link to announcement to work. Featured on www.accountantsworld.com

[Uncle Sam]

CCH Acquires TaxWise

This is the second acquisition by CCH within the last few months - ATX was first.
What's going to happen shortly is, tax preparation software will be dominated by 5 major companies. That of course makes a monopoly driving service fees through the roof.
I am currently with CSI UltraTax - I was "bought out" three years ago - having been a MicroVision Tax Relief customer.
At that time I realized that chosing a software company based strictly on price, and nothing else, I'd be "bought out" again - so I decided to stay with one of the big guys.

[Unregistered]

Competition

Since those major companies are pretty heated competitors, I don't think we'll see prices go up quiet so much as if there was a monopoly. They will, as always, be higher than they were with the smaller providers--unless one of the majors decides to cut prices to gain market share. If that happens, the others may well follow suit--they seem to fear being too different from each other.

[BOB W]

Uncle Sam

I was in the same boat as you and after Pencil Pusher and then Microvision, I was glad to go with CS. I couldn't stand another takeover.

Takeovers are very disruptive. Not so much with data transfers, although it is an issue, but with the learning curve required with a new program. It can take 2 tax seasons to get up to speed with all 1040 & 1120 issues.

I'm sure others will be bought out before the year end.

[John of PA]

CCH going small

It's now obvious CCH is interested in the lower end tax prep market, possibley to come out with a personal product for people who do thier own taxes to compete with Tax Cut and Turbo Tax. My guess is they are going to improve on ATX and try to get market share from Pro Series. Tax Wise probably will be integrated into ATX, just a guess. Anyone who does not use one of the following should have a real good reason (serves a niche, etc.), becasue the following are clearly the industiries choiceas the best packages (by market share): CCH Profx, Lacerte, Pro Series, Ultra Tax.

[sea-tax]

In case you missed yesterday's announcement.

Can't get link to announcement to work. Featured on www.accountantsworld.com

Go to Taxwise website they have a little info about it there.