Price for Drake Software for 2022 went up $300. Another killer.
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Everybody should pay his income tax with a smile. I tried it, but they wanted cash -
How much did ATX, Taxwise, Crosslink etc. go up for next year?Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
Taxslayer Pro up $213Comment
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Is that $1 per client, more or less?Comment
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I'm not surprised. For the first time ever, I was placed on "hold" when calling for customer support. All the various twists and turns enacted by Congress have added complexity to the returns.
And yes, we can keep going up, up, up for our various exposures to this complexity, time, research, CPE seminars, etc. But it gives our customers yet another reason to do their own with TurboTax or TaxAct.
Such customers are falling for misinformation and not using preparers any more:- Some of them already think they know everything. Do we have any Engineers among our clientele??
- Turbotax features advertisements that mislead the public insomuch if they buy their software they will instantly know as much as a CPA.
- Turbotax gives the illusion that their software is "free."
- I don't know whether Form 8867 is required for self-prepared returns. IRS claims we are not auditors, but has expanded the use of Form 8867 to include every conceivable situation, and it requires us to retain documents thereof. Sounds like auditing to me...
I'm sure the IRS doesn't care. Why should they??Comment
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"I don't know whether Form 8867 is required for self-prepared returns."
Try reading the title of the form.
"But it gives our customers yet another reason to do their own with TurboTax or TaxAct."
There are a significant number of U.S. taxpayers who look at some other countries and wonder why the government itself does not present them with a pre-filled return to sign (or disagree with) at no cost. For a single filer with one W-2 and no dependents or other income beyond interest (or a retiree with only SS income), this would be fairly easy. California has been offering this for years.
"You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe HowardComment
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You might want to read the top of said Form 8867, which shows "Paid Preparer's Due Diligence Checklist" as well as some supportive text.Originally posted by Beersheba View Post
(So far as I know, that form along, with Form 8948, does not even exist in the TTax personal software.
A person (CPA) I know in the local area has, for years, used the TTax personal software to prepare all client returns. A little bit of White-Out resolves the pesky issue of the "self-prepared" notation in the paid preparer area. This tax pro never files a Form 8867, and states "none of my clients want to efile their taxes."
How she continues to flaunt the IRS rules truly amazes me. Aside from that, I know (from conversations as she seeks "help") that she bends/breaks the rules by doing such things as claiming ALL interest and property taxes on the duplex in which she lives/rents as "Schedule E expenses." Why bother to fill out a Form 8283. . .just call everything "cash" and move on.
I do agree with your statement that professional tax folks should not have to serve as hall monitors or auditors or whatever the IRS thinks we are.
FE
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This is how Drake does it. No mention of any price increase.
"The price for Drake Tax 2022 is $1,825. You can save significantly when you renew early - renew by May 31 and save $300!"
Very slick.
Everybody should pay his income tax with a smile. I tried it, but they wanted cashComment
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Not slick enough for current users who know what they paid last yearOriginally posted by Brian EA View Post
Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDRComment
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I use Drake so that works out to about $2 increase in my cost per client. I'm not even upset about the price increase because everything in life costs more and more lately. I'll be charging more next year for the clients I do have, and if some leave that's fine with me. This season I turned away about 20 potential new people, and I don't even advertise or hang a shingle out anymore. (I also have another job.)Comment
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Drake went many years without increasing their price at all. I suspect that if you look at the 2022 price compared to the price 5 or 10 years ago, that Drake is probably among the lowest increased.Comment
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I've made reference to this before, but the complexity unduly favors users of TurboTax and TaxAct, because the users are untrained and don't have to have CPE or the training that we must.
One example is the "five-year-lookback" on 4797 transactions. Drake forces us to track this, and the effect is to remove capital gain treatment of 4797 transactions, to the extent of 4797 losses over a five year period.
When this was somehow passed a few years ago, Congress obviously gave little heed, and someone told them it would give them more money to spend.
What is the effect on us and on those who prepare their own return? For us, we have to track it, and if we have a new customer, we won't have the information. Oh yes, we can ask the customer but all that will happen is a deer-in-the-headlights stare, or at best an "I dunno" from the customer.
I'm sure if he is using TurboTax this will be on the questionnaire, but the customer will not understand this any better than if asked by a trained preparer.
As far as complexity, I dunno how many millions of dollars Congress will lose if they simply just do away with it. From my perspective, the dollars are hardly worth the effort IRS has to track or enforce it.
Is the 5-year-lookback the only such example? Of course not. Some of these prompts are similar to kids adding ornaments to a Christmas tree ... after so many ornaments hanging on the limbs, the tree simply falls over. If we want to add an ornament, take another one off to compensate...
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TTB renewal increase for me this year is 13.22%. This is the "Early Bird" pricing, last year was Early Bird as well. A jolt, but not any different than a trip to the grocery store or gas pumps. I believe we are paying the price of all the stimulus gimmicks through inflation.Comment
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"When this was somehow passed a few years ago, Congress obviously gave little heed, and someone told them it would give them more money to spend."
I haven't looked up the history of Section 1231 of the tax code, but I suspect the look-back provision was part of the original law, to block an obvious loophole. Sec 1231 is hugely favorable to the taxpayer, so it seems misplaced for you to frame it as a tax money grab by Congress. And yes, TurboTax tracks the Sec. 1231 look-back just like Drake, it does not "force" you to do anything but will automatically track it as you roll forward from year to year, no effort required."You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe HowardComment
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Renewed my Taxwise software this morning at $ 1,223. The renewal cost of my particular package rose by about $160.
I've used Taxwise since 1990 & like it, but Drake may have some advantages based on what I've read here.
Also got a flyer in today's mail for OLT-PRO tax software at $449. Leary of stuff like this though.Comment
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