Best Firm Fit:
Tax offices primarily focused on retail 1040 processing and bank products, with some need for simple business entity returns
- Support for all entities at federal & state level
- Integrated bank products
- Unlimited e-filing
- Online return backup functions as limited portal
- Smartphone & remote access to firm reporting
- Built-in invoicing system
- Lacks document automation/scan & populate tools and no integration with financial institutions
- No form-based input (although a static form view is offered)
- Limited tools for in-firm collaboration and review of complex returns
TaxSlayer Pro is a professional tax compliance system designed for high-volume 1040 firms and retail preparation offices. The system supports all states and multi-state filings, includes business entity compliance, has unlimited e-filing. It also features integrated bank products, billing management, and marketing and practice tools. New for TY 2010, the product offers a signature pad for electronic client signatures, a 401(K) analyzer, Spanish language forms output, Crystal Reports, and extended preparer and firm security options. TaxSlayer Pro also offers a small business bookkeeping and payroll solution for firms and their clients, as well as a web-based pay-per-use W-2/1099 preparation and e-filing system.
Core Product Functions/Features
TaxSlayer Pro is offered in two bundled versions — Classic and Premium — with both offering compliance support for preparing forms 1040, 1041, 1065, 1120, 1120S, 706, 709, 990 and 5500, as well as all states and D.C., Puerto Rico compliance, and preparation of local income tax for localities. It supports multi-state filings, extensions and amended returns, and provides unlimited e-filing of state and federal returns. In addition to the compliance capabilities and depreciation module found in both versions, the Premium bundle also includes PDF generation and document storage, client refund status checking and automated notification, marketing materials, and the mobile reporting management utility.
The TaxSlayer interface offers icons for primary system features, including messaging, appointments, client status, IRS reject codes, calculations and client retention functions, with a window giving users options for accessing returns, e-file management and support. The system can be navigated using mouse only or in a heads-down keyboard-only mode, with tab- and numeric-driven menus. The system maintains separate client selection lists for individual and business entities, with all returns displayed in a spreadsheet view that offers summary data including contact info, refund/due, e-filing info, preparation fees and other information.
Within returns, the program uses interview worksheets for data entry, with the program guiding users through return categories for income, credits, deductions, taxes, etc. A menu on the left side of the screen also allows jumping to these data-entry areas, and the system offers a Form Finder menu that shows all available forms and offers searching, with the ability to toggle to show forms already associated with the current return. Users can also jump from the main work screen, which lightly resembles the primary federal form, to data-entry sheets. For data that may be common across multiple clients, such as employers, the system remembers previously entered information. So on subsequent returns with the same employer, the preparer can simply select the company from a list and have all pertinent data automatically filled in. TaxSlayer Pro also includes a Zip Code database that fills in city and state, and lists of NAICS business codes.
A quick MFJ/MFS comparison tool is included and lets users enter basic income, adjustments and credit information to determine which filing status is more advantageous. The program also offers guidance on AMT issues. Data-entry sheets are linked to each other, allowing users to quickly move to supporting schedules and data. 4.25