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Question by Joe 123: What would you suggest for Tax Software for Start-up LLC?
What tax software would you recommend for a corporation started in November 2010. There are only start-up costs as the business actually didn’t start until March 2011. It is a sole-party LLC. Is there anything cheaper than Turbo Tax? And does it wok as well. Thanks!

Best answer:

Answer by jwishz
Since your LLC is single member, your report on a Schedule C
I use TaxSlayer
Does a good job and less than TT

What do you think? Answer below!

With Cloud hosting services making its usefulness felt across all domains, small business such as tax firms are also giving a thought on whether it is high time to switch on to alternative mode of application deployment rather tan having local desktop based or local network base application access.

The considerations for tax firms include:

Whether hosting applications such as ATX tax software would bring down the IT costs
Impact on the security of the data
If any functional productivity gains are to be made from switching to terminal server hosting
In what proportion IT support and management costs are reduced by going for , Say, ATX Tax software hosting
If, ultimately, hosting enables faster and efficient tax preparation leading to more profit margins which is the ultimate objective of any tax or business enterprise.
Whether there is any positive impact of ATX Tax software hosting on the clients interaction and management

Before going for a detailed analysis of the benefits of ATX Tax software hosting the Tax firms would like to have the idea about what cloud hosting is all about.

What is ATX Tax Software hosting?

ATX Tax software hosting implies having the application hosted on the cloud server and accessing it as a local desktop interface. This means a centralized database access, ability to access the application independent of the browser or platform and even unique system requirement required by each tax software or their particular edition.

Thus, with ATX Tax software hosting the application is accessible from:

Anywhere in the world the tax professional desires and not just the local network

Analysing ATX Tax software hosting services in terms of productivity gains

Cost Reduction with ATX Hosting: Having ATX Tax software hosted on terminal server can reduce the IT costs of the tax firms considerably. The costs reduction is on account of:

No need to install local servers: The tax firms need only the basic IT infrastructure to access the application. Sine the ATX application is installed and run on the centralized terminal server, there is no need to have local network installed which save the upfront IT costs incurred by the enterprise. Costs are also reduced on account of the obviation of the need for having frequent system or servers upgrades.
Scalability issues resolved: In anticipation of future demands enterprises often invest in unutilised IT capacities and hence incur unnecessary financial burden. With ATX tax software hosting getting any amount of readymade IT infrastructure is easy and quick, thus saving the IT costs for the firm. This also enhances the ability of the tax firms to cater effectively to increased market demand in timely manner.
IT management: A proactive IT management needs dedicated IT resources as well as IT support professional for Troubleshooting and optimal utilization of IT infrastructure which may involve huge costs for a tax firms. Terminal server hosting allows all these functions to be outsourced with no additional costs for the enterprise other than the hosting subscription costs.

ATX software hosting and functionality enhancements

Hosting any application, such as ATX Tax software enhances the way the application is accessed and used by the tax firms and their clients.

Add-ons hosting: Add-ons are am important way to offer complete ranges of financial services to the clients. All ATX add-ons can be hosted on terminal server on the centralized database for effective integration and data import or export.

Client centricity: Cloud hosting also enable better client handling as all the clients data resides on the central database. Also with real time collaboration and multiuser access, it is much easier for the tax professional to cater to the clients request remotely than wait for one to one interaction for sharing or exchange of files or even helping with tax data entry.

Reliability of the ATX application hosting services

Cloud services are more reliable in terms of network access, security and data safety than the localized application access.

Network access: Virtualized and distributed computing ensures that the network access in the cloud environment if guaranteed and fail proof. Further dedicated IT experts ensure that the network is monitored in real time for trouble spots and technical help made available in real time. This is not possible for in-house application deployment which may not have the requisite expertise to handle these issues.

Data Backup and security: ATX Hosting services also scores above in house deployment in terms of assured data back up and security features. Not only the data is stored in multiple locations on a daily basis automatically, the network is also monitored in real time for security threats and proactive troubleshooting ensured.

Further the data access is:

Password protected and encrypted
Protected through the use of latest firewalls and online security tools

williamsmith – About the Author:

William Smith is a technology Specialist at Real Time Data Services specializing in Accounting application and software products. Real Time Data Services  provides QuickBooks Hosting , Tax Application Hosting such as Proseries,  UltraTax,  ATX tax software, Lacerte etc as well as  Managed IT Infrastructure services for small and medium businesses As well as remote desktop support as well as MyOb Hosting and Peachtree Hosting.

Source: http://www.articlesbase.com/software-articles/cost-benefits-analysis-of-atx-tax-software-hosting-services-3525149.html

Question by Noah P: I have not filed my federal or state taxes for the past 5 years. What tax software programs can help?
Are there any tax software programs online that will allow me to file taxes from 2005- present that I have failed to file? I am unsure if I owe or would get a refund, but I really must get these done asap.

Best answer:

Answer by akgupta
I just googled using keyword [filing taxes for 2007] and found a few sites:

http://www.pastyeartax.com/

http://www.filelate.com/

I am not a tax professional or an employee of these companies. So please do your due diligence.

Ashwini

What do you think? Answer below!

The key to better profitability of Tax preparation firms lies in Greater Number of tax return filed in less time, minimum errors and consumption of less resource which translates into reduced manpower needs and IT costs.

Some of the factors responsible for judging efficiency of tax preparation software are:

Ease of data entry and whether import and export from other application are possible so that there is minimum human data entry needs and hence less time consumed per tax return filed.
IT functions at the Tax firms end are kept minimized so that the costs incurred on establishment of IT infrastructure is reduced.
Whether multiuser data access is possible so that real time collaboration leads to faster tax return files and enhanced productivity through optimal use of resources.
Workflow design of the Tax preparation software so that data are corrected for Errors and easy input of data through data sheets rather than direct entry
Incorrect data flagging features
Integration With other Applications such as Accounting and CRM so that data generated during Book Keeping process is used for Tax  Preparation as well and obviating the need for re-entry of data.

Many Tax software such as ATX, Lacerte, Proseries and Drake software are available which are efficient and time saving and comes with plenty of user friendly features. But there is a growing acknowledgement among the financial community that the features of the Applications can be enhanced multiple times if they are hosted in the cloud environment.  The most sought after benefit of hosting Tax preparation application is anytime anywhere application access, multiuser collaboration and support in the cloud environment for the tax application Add-ons.

Benefits of Hosting Tax Preparation Software on Cloud servers

Always on Application Access: Tax practice is quite mobile with frequent client interaction as well as use of Outsourced Manpower during tax return season. Meeting clients directly involves both time as well as transportation costs. This can greatly be minimized with Tax preparation software hosting which allows anytime anywhere access to the tax application and at the same time allows multiuser collaboration in real time. Thus Tax practice can view, collaborate and share files with clients from many locations instead of one to one interaction.

Using Outsourced Manpower: Outsourced manpower is not only cheap but also allows meeting seasonal business growth needs.  Tax preparation software hosting makes the geographical considerations irrelevant as real time multiuser access and collaboration allows the tax firm to monitor the files for accuracy, timely preparation as well as proper division of labor where in various user can be given access to particular files to work upon.

Reducing Cost Over heads: Cloud hosting involves the factors such as predictable IT costs, Reduced IT infrastructure support costs on the client’s part as well as guaranteed uptime. With No local Network to establish there is no need of dedicated IT support professional locally. Further costs is saved due to available of always on demand scalable  IT Infrastructure at fixed per moth costs rather than setting the complete IT locally which may be underutilized when the Tax preparation season subsides.

Tax Software Integration with other applications

A major advantage of Hosting Tax Preparation software lies in the easy integration between Tax software and other applications such as accounting and CRM applications. Since integration allows export and export of data between the applications the time and costs involved in re-entry of data is saved. Further it allows end to end financial solution.  Tax software such as Lacerte and ATX can be integrated with accounting applications such as Peachtree and QuickBooks in an hosted environment.

Similarly Tax software Add-ons can be hosted in a cloud environment so that to allow more functionality to the tax preparation software.  Add-ons such  Lacerte document Management systems, ATX  Intelliforms,Fixed asset manager and Drake Tax Planner and Client Write up    can all be hosted in the cloud together with the respective tax applications and effective integration assured for complete import/export of data.

In a hectic tax season, managing the client’s data and filing the tax return within the time frame is one of the complexed tasks for a tax preparer. First searching for the appropriate professional tax software which suits our requirements needs thorough market research and then the professional is required to manage the client’s data in secured environment. Well ATX tax professional software has come up with the solution of first issue with its advanced and improved features which takes care of user convenience to the upmost. And hosting can provide the solution of the second problem as most of the application hosting service provider claims to provide secured environment to place the client’s data. Let’s discuss first why ATX tax software should be preferred on other professional tax software.

ATX tax software is user friendly professional tax software created by CCH Small Firm Services. Keeping in mind the user’s convenience, ATX tax software is specially designed for those people who want to work faster and want the features like hassle free data import, easy integration with the data from different sources to improve the efficiency. Not only this, ATX tax software is also providing flexibility and customization of financial statements.

It is also providing the optional new ATX scan and fill function which will help the tax preparers to avoid the time spent on entering the data by finding the financial information automatically from scanned w-2 or 1099 form. As it recognize the forms or documents at the time of scanning in 66 different formats. ATX also takes the help of OCR process which converts the form content to XML data which is transferable to the tax software automatically. ATX tax software also provides the high level of integration with the client’s data. Once the “Lookup tax data” is pushed, it automatically populates the client information with the DMS.

All these advantages can be improved, once ATX tax software being hosted on cloud servers. So rather than deploying it on the desktop, one can host it on Terminal servers and enjoy the benefits of always accessible ATX files. There are other benefits which can be enjoyed by the tax preparer:-

Saves cost: – ATX tax software can be installed and run on the terminal servers and users can access the application similar to local desktop interface. That means hosting removes the requirement of maintaining high IT infrastructure at the end of the user. Hosting also removes the necessity of high upfront investment in setting up and maintenance of Local network, security features and data backup. Even they need not to purchase the costly servers or the workstations as they get the services on monthly subscription basis. ATX tax software hosting also allows the clients to avoid the system up-gradation which is very much required in case of local installation of ATX tax software requiring minimum of 2 GB ram. While hosting allows the users to work with any edition and version of the tax application hosting without bothering the user about minimum software requirement.

Highly secure software and data access:- Data stored locally is less secure as compared to data which is backed up remotely. As there is no option of automatic data backup in local computer or one cannot afford to install the latest data security tools. Moreover, Database also require constant monitoring for security concerns which demands dedicated technical staff which increases the non operational cost. Hosting resolves this issue as most of the application hosting service provider claims to provide dual data backup of all the important data at multiple locations to combat any kind of disastrous circumstances and user will not lose the single data because of this. Apart from that their network uses the latest firewalls and security tools to ensure secured and authenticated access to make the data more secured as compared to local data backup.

Apart from that hosting removes the location barriers as one can access the application and data without bothering about location.

Other benefits: – ATX software hosting provides some other benefits to the users like multiuser access which means more than one user can work simultaneously which improves the collaboration which results into faster and error free tax preparation. Apart from that, application hosting comes up with 24*7*365 days free technical support which means one need not to wait to get the issue resolved in case of facing hassles while accessing the application.

At the end, one can rely on the ATX tax software and file the error free tax return properly. At the same time financial professional can convert this hectic task into an easier task while get it hosted on cloud servers or cloud environment.

As quoted by Benjamin Franklin somewhere more than 200 years back that “In this world nothing can be said to be certain, except death and taxes”. While medical science has taken care of deaths but Tax is still certain in today’s scenario. Of course, Tax practitioners are very prepared for this certainty now. They are using latest tax software to get the return file just in time for themselves and their client. No one can think to prepare tax returns without tax software these days as absence of tax software make the work unproductive and increase the chance of delay. But at the same time everything comes with certain cost.

There are number of software available in the market having benefits better than others. One needs to decide to go for the best option which can increase the return on investment. Choice of tax software basically depends on following factors:-

What is the return on Investment on Tax Software?
How compatible your tax software is with your need?
What are the factors compelling you to look for a change in the software?

Most of the tax practitioners want software which comes at reasonable price with other added benefits which may help them to prepare the tax in faster and easier way. CCH has come up with ATX tax software which serves all the purpose of a tax preparer. ATX tax software has target clients of small and medium enterprises like companies of 2 to 4 people to the companies of 20 to 100 clients. Not only the price but ATX comes up with the other integrations as it is pretty much compatible with the add-ons like Fixed Asset Manager helping one to calculate the depreciation on fixed assets. ATX Tax software is also compatible to the add-on options like Ohio Cities package. ATX Tax software also provide “scan and flow” option to scan W2, 8879s, 1099 etc to provide paperless integration. As specified by CCH that client write up product is also available in the Spanish language. Other features like print to document manager which saves the document as PDF and e-filing facility to make it really desirable.

Apart from that ATX tax software is also compatible with cloud computing or should we say application hosting. Tax practitioner can go for ATX software hosting which enables them to work from any computer across the globe with an internet connection as application is hosted on Terminal Servers. So no worries if the person is required to go for unavoidable visit. Hosting improves the data security features of ATX software tremendously as people can access it on a virtual desktop only with the help of user ID and password. That means Tax preparer can now focus on his core area rather than worrying about the data security. Application hosting service provider provides free data backup for last 30 days that means no worries of disaster on a local system as the work done by the user is safe. In case of any trouble while working on terminal server. Just like ATX software, hosting services are quite cheap and one can avail them on monthly basis.

So, we can say that combination of ATX tax software with application hosting is really useful for those tax preparers who are looking for cheaper but faster and smarter tax preparation software.

IFTA fuel tax software is an exceedingly advanced technology, which is specifically designed to incorporate almost all the essential features, related to the IFTA fuel tax guidelines. As per the International Fuel Tax Agreement (IFTA) between United States of America and Canada, there are certain rules and regulations regarding the fuel tax and other related issues, which are meant to be followed by all the licensees operating within the jurisdiction of IFTA member states. It is highly difficult to manually maintain all the requisite records, in-accordance with the IFTA guidelines and simultaneously carrying out the trading activities in the aforesaid highway region. Therefore, specific fuel tax software was required for delivering the best possible services to all the licensees operating within the IFTA jurisdiction. IFTA fuel tax software consists of all the essential features which are designed to simplify the complexities embedded in the IFTA fuel tax procedures.

As per the IFTA ‘Articles of Agreement’, under section R800, every licensee has to follow the laid down rules regarding the motor fuel taxes. IFTA fuel tax software is designed to deal with all such intricate tax calculations, in-accordance with the IFTA guidelines. A licensee may use different types of fuels such as gasoline, CNG, LNG, ethanol, special diesel etc in the qualified motor vehicles, as defined under the ‘Articles of Agreement’. Some of these fuels may be taxable while some other may be exempted from taxation, as per the laws of member jurisdictions under which the licensee would be operating. The fuel tax reporting software is a technology which has incorporated all the features required to carry out tax calculations in compliance with the IFTA rules and regulations. As different tax rates may be levied on different types of fuels used in the qualified motor vehicles; therefore, it is very difficult to manually calculate all the taxes levied on different types of fuels, as per the prevailing tax rates. But IFTA fuel tax software can be used to easily carry out all such complex tax calculations. Generally a fuel tax reporting software requires certain basic information like the types of fuel used, prevailing tax rates, amount of fuel used etc to accurately calculate all the required fuel taxes.

International Fuel Tax Agreement requires all the licensees to maintain and preserve certain important records, which may be required for audit and other tax purposes. Under section R700 of the IFTA ‘Articles of Agreement’, every licensee shall have to maintain certain records to substantiate information reported on the tax returns. Thus, fuel tax software generally consists of certain features which are specifically designed to maintain all the essential records which may be required at the time of filing tax returns. A licensee is required to preserve all the records based on which, the quarterly tax return or the annual tax returns are filed; moreover these records shall be made available upon the request by any member jurisdiction. Non-compliance with any recordkeeping requirements may even cause the revocation of the license. Therefore, it is extremely important to maintain all the records using a good software technology, and IFTA fuel tax software is currently the most feasible option for all the licensees operating within the IFTA jurisdiction.

In addition to the preservation of records and the calculation of motor fuel taxes, the IFTA fuel tax software has many essential features which can enable a licensee to efficiently carry out all the business operations according to the IFTA rules and regulations. The incorporation of all the important features within single software makes the IFTA fuel tax software a complete package technology. IFTA fuel tax software has brought extreme efficiency in the highway system within the jurisdiction of IFTA member states.

Drake tax preparation software is most widely used and trusted tax preparation software among majority of accounting professionals. Drake software stands out from other tax software in terms of overall customer satisfaction, reliability, customer support and easy to use features. More-over majority of small and medium business firms favors using tax software like drake for trouble free, accurate, timely, smooth tax filing and preparation.

Aid to your businesses

A number of small and medium businesses are cropping up every day all over the world. Majority of them are not able to survive and are shut down with in first 2, 3 years. Primary reason for their failure can be given as diversion from the core business goals and allocating their time and resources to day to day operational activities. These back office tasks brings down the profitability curve of the businesses as they gulp down majority of resources.

So tax return filing and preparation consumes a considerable AMOUNT OF MONEY and resources of an organization. Easy way out of these scenarios is hire professionals like CPAs or using hosted tax software like drake. Even CPAs uses tax software generally .So ultimate solution is a good tax preparation software.

Tax software is acclaimed for data accuracy, faster tax return preparation and integration with a large number of add-ons for efficiency and comprehensiveness of forms supported by the application. This software saves you from cumbersome calculations and paper work. ALL you have to do is provide the needed information. This software will then guide you through the entire process and ensure an accurate and error free tax return preparation.

Drake software gives guaranteed accuracy in tax preparation, quick time tax filing.

Process of tax preparation is further eased and made efficient by cloud hosting technologies. Tax software is made available as hosted applications to customers by many service providers. These services are definitely better than the desktop deployment of tax software. Benefits of using hosted tax software in cloud environment can be summed up as:-

Anytime access to your data:-Tax software hosting allows a user to have anytime and anywhere access to hi or her tax data. So user has greater control on their tax data management from anywhere. This is prominent feature of cloud hosting services.

Cost reduction: - Major benefit of application hosting is reduction in cost. This reduction in cost can be attributed to factors like refraining from investment in infrastructure (procuring, maintaining servers), data backup and security.

Expertise of service providers :- User does not have to spend time in understanding the tools .All of service provider have well trained staff which have expertise in all tax computation tools .This ensures faster response and accurate tax preparation .

Available ADD-ONS:- Various ADD-ONS for tax software are easily available in market which enhances functionality of tax software and make the more industry specific. These utilities make tax software more flexible. Document esort, client manager are examples of type add-ons present for tax software in market.

Above stated benefits justifies growing popularity of hosted tax software like Drake. By Opting for hosted tax software small and medium business can definitely save their resources and concentrate more on their core business needs. Effects of using hosted tax software are definitely positive and can be felt across various domains of small and medium business organization.

I was told by Turbo Tax yesterday, that each year’s software have that year tax on it and that I could only do 5 taxes at a time including e-file for federal. Here’s what I am trying to do, federal and state taxes for home and business mainly for the Schedule D form, e-file my taxes for both federal and state and complete my own taxes every year starting with this year. What should I do?

The major advantage of Tax software Cloud environment flows from the always on accessibility of the tax data from any place anytime and multi-user accessibility of the application. Some of the advantages of getting tax software hosted in the Cloud are;

Centralized Database : Managing multiple clients is an uphill task for the finance professionals more so when they are located in multiple locations. Having the data of all clients at centralized server, accessible form any online connection really adds on to the productivity quotient for the tax planner.
Add-ons: There are available a large number of tax software Add-ons which makes the Applications more powerful and more usable for industry specific solutions. The integration with Add-ons is easy if both the tax Software and the various add-ons are hosted on terminal servers together as this way it is easy to export/import data. Some of the listed Add-ons that can be hosted are Lacerte Document management system, Lacerte tax planner, Lacerte tax analyzer and Lacerte trial balance utility.
The cost Factor: Cost of tax preparation impact heavily on the profitability of the tax firm. Sine most of the tax planners work in multiuser environment, to run the application they have to install enterprise network or LAN to access the application.
Cost saving estimate: As per the latest forecasts by the consulting firms, application hosting can lead to savings of up to 80% as compared to establishing the complete local network for running the software. The cost saving are on account of reduced IT support costs, remote backup solutions, and above all increasing the flexibility and reliability which is really a big achievement by any small and large business as it saves the valuable Time.

Know about Drake Hosting

Besides anytime anywhere access and collaboration an important functionality offered by Drake tax software hosting is the ability to have your office operate just from any location. During tax heavy season this corollary would translate into using outsourced manpower at cost effective rates or using part time work. With the access to data, you know exactly what work is being done or evaluate quality of the work in real time for error free tax preparation.

Besides server and network, application lifetime costs also include installation and occasional troubleshooting costs. Tax software hosting not only save the Drake or Lacerte or PeachTree tax preparer these costs but also minimizes the need for onetime upfront cost as the services are available on a monthly subscription basis without any hassle of managing and spending huge money on it.