Software for retirement

[Dhawk]

I am retiring. I did a small number of 2022 returns and will do none for tax year 2023. For 2023 I will file for myself, and three or four family members. There will be a Schedule C and E for a rental property and two simple trusts.  What should I buy for software?  Many Thanks.




 

[Lee B]

I use Drake's Pay Per Return version which costs $355 this year and includes 10 Form 1040 returns.

[Catherine]

You might also look at TaxAct and see if they have a pay-per-return option. They were decent basic/pro software twenty years ago and have only gotten better. Ufortunately, they lagged my needs so I stopped using them many moons ago.

[Abby Normal]

I use ATX1040 package to do about 10 returns. Half were mine or close family that were not billed but the other 5 more than paid for the software (1k).

[Sara EA]

TaxAct is one of the companies that was sharing client info via pixels or whatever to advertisers and who knows who else.  How about TurboTax?  They have different packages that might fill your needs at a reasonable price (or not).

[Lee B]

14 hours ago, Sara EA said:

TaxAct is one of the companies that was sharing client info via pixels or whatever to advertisers and who knows who else.  How about TurboTax?  They have different packages that might fill your needs at a reasonable price (or not).

Intuit is one of the codefendants of the Class Action Lawwsuit.

[Lion EA]

How about TaxWise Online? Is Wolters Kluwer involved in that?!

[JRS]

I stayed with Drake when I retired.  I do six returns and have two that cover the software cost. (But not license etc, no big deal.)

[BTS]

You can also do them by hand.  

[Dhawk]

Thank you all. I started on the cheap side. If necessary I will move up. I got H&R Block Premium & Business for about $90. The business program looks just like ATX so no learning curve there. The personal program is different from the business but I caught on quickly. The business program covers corps, partnerships, estates, trusts and even payroll. The personal program looks plenty able to handle my Schedule C and rental property. It includes five e-files.

[BrewOne]

I can't find it in a search of Circular 230, but I have a clear memory of being told that we (paid preparers? EA's?, can't recall) had to use professional-grade software, i.e. not off the shelf.

[Lee B]

21 minutes ago, BrewOne said:

I can't find it in a search of Circular 230, but I have a clear memory of being told that we (paid preparers? EA's?, can't recall) had to use professional-grade software, i.e. not off the shelf.

I don't specifically remember that. However I think  data security and the WISP requirements would end up in the same place.

[Lion EA]

What software do you use not? ATX? Something else (many of us do but remained on this forum for the tax advise instead of the ATX advise)? Whatever it is, put your sales rep to work to get you the best price, letting him/her know that you will stay if the price is appropriate for your retirement needs. That you are demoing other software. Long time customer. Blah, blah, blah.

[Medlin Software, Dennis]

On 12/25/2023 at 6:11 AM, BrewOne said:

I can't find it in a search of Circular 230, but I have a clear memory of being told that we (paid preparers? EA's?, can't recall) had to use professional-grade software, i.e. not off the shelf.

I am not beholding to the requirements you all are. What I remember is those who are subject to the IRS rules, have to keep data secure, and have a written plan for the same. Thus, things like outdated software, a consumer grade computer, etc., are going to make you liable, and possibly not be covered by E&O because of willful non-compliance.

So whatever you use for software, self or packaged, needs to be kept current. Computer needs to be able to run a currently supported pro edition of Windows, with the security functions enabled. I do not recall anything saying uou have to use any particular type of calculation/reporting software, a spreadsheet could be compliant.

[BrewOne]

I took another look and can't find any specific rule requiring professional grade software; perhaps, as y'all mentioned, it is the requirement for data security and e-filing that creates the need.

I laughed when recently an IRS presenter said that we should try and minimize our collection of personal data--a year and a half ago I had the experience of several of my clients' refunds being held up because I hadn't submitted their driver's license information (I previously only collected it on returns where a State return was present).

[Lee B]

In years past I have had a few younger client's state refunds suspended pending conformation of their identity.

However I have decided that I will no longer retain any drivers license information.

[Medlin Software, Dennis]

51 minutes ago, Lee B said:

In years past I have had a few younger client's state refunds suspended pending conformation of their identity.

However I have decided that I will no longer retain any drivers license information.

Good not only for data security, but to make sure when you do have to see it, it is still valid. For instance, while not accepted for driving at present, my state has a digital version. It requires me to login every so often (seems like monthly, but I am not sure) so they can check for suspension/expiration. Same, really, for things like a vendor storing CC info. They expire, get closed, and most often, the user wants to use a different card, so we never store them at all.