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The CPA Technology Advisor awards TaxWise 4 1/2 stars out of 5.

From the April/May 2008 Review of Tax Compliance Suites

“The TaxWise system is geared more toward smaller tax offices with higher volume traffic and more need for bank products, as well as remote and multi-location capabilities. The program supports all entities with required IRS and state income reporting requirements, including individual, (1040) C and S-Corps (1120, 1120S), partnerships (1065), exempt organizations (990), fiduciary returns (1041), estate and gift taxes (706, 709), and reporting for employee benefit plans (5500).”

“Also under the TaxWise brand are several accounting and practice management programs, including W2-1099 compliance, fixed asset, document management, write-up/payroll, a website builder and banking products.”

“All of the tax systems include English and Spanish-language client organizers, reports and communication templates. TaxWise offers a number of features to appeal to bilingual practices, including viewing or printing more than 50 of the most common individual tax forms and context-sensitive Help in Spanish, plus Spanish-speaking training, sales and support.”

“The program’s developers have been quietly adding to TaxWise’s feature set over the past few years, with the program now offering options for client write-up, payroll, fixed asset management and trial balance, while it’s internal integration functions have been enhanced and automatically transfer data between associated returns, including pass-through of K-1 data. The program also offers multi-office capabilities that allow a tax practice to easily set preparers up at temporary or seasonal locations, such as kiosks at a mall, store or car lot, with the program automatically transferring data to the principal tax office where the return is actually completed. Any number of preparers at the same location can use the system at no additional cost, and there are discounts of up to 60 percent for additional offices.”

“Two of the more impressive optional additions for the TY 2007 version of the program are the Scan-and-Fill function, which automatically populates returns with data from scanned-in W-2s, 1099s and other documents, and the Document Management system, which helps reduce paper storage.”

“TaxWise users also have access to value-added products including the warranty-like Audit Shield, FeeCollect for deducting preparation charges from client refunds, and Merchant Account Services, which enable acceptance of credit cards. TaxWise also gives firms the option to add a do-it-yourself tax program to their website, which can provide a revenue stream from individuals who self-file.”

“The TaxWise system is easy to use, with multiple assistive features and bilingual sales, support and training for practices with high seasonal turnover. Through the web-based TaxWise TV and TaxWise University, preparers can get daily and weekly how-to tips, system features and update information, as well as training with tests and tutorials. The company’s support website provides additional assistive features, and toll-free technical support is included in system pricing.”

“TaxWise is best geared to provide high-volume, 1040-focused tax shops with an easy-to-use system that can be used by all preparers in a single office. It also provides multi-location and kiosk capabilities. The inclusion of the other taxable entities and accounting programs will offer such practices an avenue to grow, but the productivity features and workflow processes in TaxWise, including FeeCollect, bilingual options and bank programs, are enough to help a growing tax office succeed.“

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CPA Magazine Lists TaxWise in the Big 3
of Tax and Accounting Software Suites
.

Elite group includes TaxWise, CCH® ProSystemfx®
and Creative Solutions® Professional Suite

Excerpted from CPA Magazine, Tax Season 2006 Edition

“TaxWise makes it affordable to provide business tax and accounting services. Without the high price tag of other major tax and accounting software vendors, TaxWise provides all the tools needed to offer comprehensive solutions to clients.”

“In a market full of similar commodity products, TaxWise differentiates itself through nuances that could significantly impact the productivity of a tax practice.”

“To provide a full-service offering to business tax and accounting clients, it is essential to have a comprehensive software solution that does not get in the way of doing business. The software’s clean design facilitates rapid data entry and intuitive navigation. Eschewing the various 'bells and whistles' that most vendors perceive as value-added, TaxWise simply makes it easier to service clients and manage your practice. The functionality targets the actual needs of accountants.”

“The TaxWise business tax and accounting suite consists of a number of products facilitating trial balances, write-up, corporate tax returns and fixed asset management. This program enhances the offering with a clear, well-designed user interface, the quality of which separates it from its competitors.”

“TaxWise also differentiates itself with a clear, easy-to-follow screen design.”

“TaxWise generates the business tax returns and includes forms for 1120, 1120s, 1065, 1041, 990, 706, 709 and 5500. TaxWise also offers comprehensive state business tax filing capabilities. TaxWise Trial Balance facilitates journaling and accounting validation prior to filing, and the TaxWise Fixed Asset System…provides comprehensive functionality for asset tracking and depreciation management.”

“TaxWise’s Computer Checkbook application offers an intuitive venue for managing client accounts."
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TaxWise Scan&Fill with Document Manager receives 5 stars for usability, document organization and integration 

Excerpts from the August 2008 CPA Technology Advisor review of document storage programs

“The key point to understand about these two applications [Scan&Fill and Document Manager] is that they work together to significantly enhance your tax preparation process by automating the scanning process. When you scan 1099s and W-2s, the software will recognize these documents in 66 different formats. As well, the OCR process converts the form content to XML data that can be transferred to the tax software automatically. The program also automatically creates a folder and files any document that is recognized by the OCR process. The user interface is very intuitive and easy to follow. “

“… documents are organized into a pre-established sub-folder structure that you can customize for your practice. The inactive clients category provides an efficient method for moving “inactive” clients to a separate area so your active clients directory is limited to “active” clients.”

“As stated, the strength of this product is the level of integration with the vendor’s tax products. You can push the “Lookup Tax Data” button to automatically populate the DMS with the client information. Within the tax software, you can import the XML data from the W-2s and 1099s that was established and reviewed during the scanning process. An option to print to the document manager from within the tax software will create a PDF copy of the tax return and file it in the client’s folder. If the client folder has not been set up, it will create the client and sub-folders at that time. Direct integration is provided for e-mailing client documents, including an encryption option for securing interoffice e-mails. “

“If you use either of the ATX or TaxWise tax preparation products, then Scan&Fill with Document Manager is a must-have. The efficiency gains that you can achieve in your tax preparation process are well worth the cost. Even if you use other tax compliance software, the program will automatically file any of the documents that are recognized, saving time and effort in organizing digital files. “

Usability -- 5 Stars
Document Organization -- 5 Stars
Integration -- 5 Stars
Annotation -- 3 Stars
Overall Value -- 4.5 Stars
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2008 Overall Rating: 4.5 Stars

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