CPA_Practice_Advisor_June_2020 - 14

REVIEW: TAX PREP SYSTEMS
Intuit ProConnect Tax Online	 https://proconnect.intuit.com/tax-online

TRADITIONAL WORKFLOW SYSTEMS

ProConnect Tax Online is best suited for smaller
firms that process fewer than 300 tax forms per year.
ProConnect Tax Online supSTRENGTHS:
ports both individual and
* Intuitive user interface
*Integrates with QuickBooks business returns through
Accountant
an online platform that
* Cloud-based
can be accessed from PCs,
* Mobile functionality
Macs, and smart phones
POTENTIAL LIMITATIONS:
* Onscreen support is inferior and tablets.
to that found in other Intuit
WHAT'S NEW?
tax products
New in ProConnect Tax
Online for tax year 2019 is
the addition of 134 new tax forms as well as 43 new
e-file capabilities. The latest version includes a K-1

MyTAXPrepOffice	

www.mytaxprepoffice.com

MyTAXPrepOffice from Advanced Tax Solutions is an
excellent option for highSTRENGTHS:
volume tax preparation
* Extremely easy to use
firms. Designed more from
* Designed for rapid tax
preparation
a preparation standpoint,
* Portal and e-signature
and less as a complete
capability offered in all plans
practice management tool,
POTENTIAL LIMITATIONS:
* No option for tax planning or MyTAXPrepOffice is better
client management
suited to straightforward
* No integration with other
returns, and does not offer
accounting, tax, or practice
tax planning, what-if scemanagement applications
narios, or extensive client
management capability, but instead concentrates on
preparing returns quickly.

TaxAct Professional	

JUNE 2020 ■

Accessible via the cloud, MyTAXPrepOffice works
with all common Internet browsers, and users are
able to access the application from any smart phone
or tablet. The application also includes an off-line
mode so users can continue to utilize the application
even if not currently online, with information entered
offline later synched with the online application. My
TAXPrepOffice is also a good fit for tax preparers with
multiple locations; MyTAXPrepOffice is optimally
designed for on-site tax preparation services, where
the client is present during the process.
WHAT'S NEW
My TAXPrepOffice has added a series of new features
in the 2019 tax year release including the Instant Form

www.taxact.com/professional

TaxAct Professional Edition is designed for accounting and tax professionals and is a good fit for small
to mid-sized firms that
STRENGTHS:
* Scalable application
prepare a high number of
* Intuitive user interface
individual and business
* Extensive help and support
returns. TaxAct also offers
options
commercial applications for
POTENTIAL LIMITATIONS:
individual and business tax
* Integration with third party
applications not available
preparation.
TaxAct Professional is
designed to be installed as an on-premise application,
although users can choose to have the application
hosted on TaxAct Professional servers for cloud access.
WHAT'S NEW
TaxAct Professional includes numerous system
updates, enhancements and new features including

14

Package for pass-through business entities including
S-Corps, Partnerships, and Fiduciaries, and also
includes better data import capability, making it
much easier to import financial documents such as
W-2, 1099-DIV, 1099-INT, 1099-MISC, 1098, and 1098-T.
The PDF Organizer offered in ProConnect is now part
of Link, and tax preparers can cut down on paper
by allowing their clients to sign forms electronically
using the e-Signature feature (powered by DocuSign,
for an extra charge).
In addition, the 2019 tax year version contains
navigational enhancements and improved loading
times for all pages. For those seeking additional
help and support enhancements, the 2019 version of

notification center improvements. A new search bar
has been added to the application that includes the
ability to search categories, titles, and content. The
Client Manager feature has also been enhanced for tax
year 2019 and is now divided into five organizers: Personal Information, Income, Deductions, Credits, and
Estimated Payments or Bank Details. The 2019 release
has also simplified the installation process, with the
ability to install all TaxAct products simultaneously.
For those that store documents electronically, returns
can be copied in the client manager, while users can
also use the appointment manager feature. In addition, TaxAct has made it easier to enter depreciation
totals and edit existing data.
PRODUCT FEATURES

www.CPAPracticeAdvisor.com

2020 OVERALL RATING

4.25

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21140100

ProConnect Tax Online now includes Point-of-Need
Guidance for answers to frequently asked questions,
as well as enhanced help features located inside the
application, allowing users to search for answers
without leaving their workflow. Also new is the option
to create a tax plan using prior year returns, creating
up to three tax scenarios per year, as well as the ability
to make multi-year comparisons.

2020 OVERALL RATING

4.5

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21140104

View which displays the actual tax form as data is
entered, allowing both users and clients a real time
view of the form. The navigational menu has also been
updated, with a new menu added to the left side of
the user dashboard that provides quick access to all
necessary functions including user preferences, bank
enrollments, report printing options, the e-file center,
and access to the client portal.

2020 OVERALL RATING

4.5

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21140121

TaxAct Professional makes system navigation easy,
with setup wizards available to guide users through
the entire product setup process. There is also an
import wizard available for firms that need to import
data from another application. TaxAct also uses
'Assistants' to simplify the data entry process, with
a topics assistant and a stock assistant available.
Entry screens mirror the tax form being processed, and users have the option to use the AutoSave
feature, which will automatically save data at regular
intervals.
https://proconnect.intuit.com/tax-online http://www.CPAPracticeAdvisor.com/21140100 http://www.mytaxprepoffice.com http://www.CPAPracticeAdvisor.com/21140104 http://www.taxact.com/professional http://www.CPAPracticeAdvisor.com/21140121 http://www.CPAPracticeAdvisor.com
CPA_Practice_Advisor_June_2020

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