2012 Readers’ Choice Awards
Since we started the Readers’ Choice Awards in 2006, they’ve become a popular way for many of our readers to voice their admiration and respect for certain companies that make technologies for tax and accounting professionals.
From the January 2012 Issue.
Since we started the Readers’ Choice Awards in 2006, they’ve become a popular way for many of our readers to voice their admiration and respect for certain companies that make technologies for tax and accounting professionals. Whether it’s their tax compliance system, the small business accounting system they prefer their clients use, or asset management, research, write-up or other systems, our readers have first-hand knowledge of how these programs and technologies affect their practice, whether through streamlined workflow or enhanced client collaboration.
Each year, these Awards give our readers the opportunity to help shine a spotlight on the technologies, services and vendors they use and trust — the ones that help them succeed, and the ones they find valuable for their clients. While the voting is not scientific and can sometimes resemble a popularity contest, that’s absolutely fine with us. We believe that technologies and vendors who’ve earned a positive reputation and have users who are eager to voice their praise are probably deserving of greater recognition by the accounting profession.
If you’d like to see how your practice is doing in terms of technology and workflow, take our free online Productivity Survey at www.CPAPracticeAdvisor.com/productivity. Your Productivity Score offers comparisons with other firms of your size and nature, as well as those in your geographic area. It also offers advice tailored to your firm for how you can achieve greater productivity. With the end of the year in sight and busy season just a few weeks away, it might also be a good time to assess your own firm’s workflow practices and use of technology.
Nearly 4,000 readers in and around the tax and accounting profession participated in the voting this year, which was open on our website, www.CPAPracticeAdvisor.com, during October and early November. Thank you to the readers of CPA Practice Advisor and NSA Practice Advisor who took the time to vote in this year’s Readers’ Choice Awards. Here’s wishing you a wonderful holiday season and an increasingly productive and profitable new year.
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IN-FIRM TECHNOLOGIES
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Federal/State Income Tax Compliance
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Insight: In every year that we’ve held the Readers Choice Awards, Drake Software has come out on top in a most of the categories that they compete in. For tax compliance, Drake’s all-inclusive professional system continues to hold about 10% of the overall market, but it consistently receives the most votes in this category. We attribute this to the company’s service, which customers frequently commend, as well as the ease-of-use of the program and its everything-included offering. This year, Drake received 42% of the votes, up from 40% last year. Next up was a combined 25% who cited use of Intuit’s ProSeries or Lacerte professional tax systems (individually 13% and 12%). ProSystem fx Tax and Thomson Reuters’ UltraTax round out the top five.
See our 2011 reviews of Professional Tax Compliance Systems at: www.CPAPracticeAdvisor.com/10254662 and www.CPAPracticeAdvisor.com/10254660.
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Specialty Systems & Tax Prep Tools
Insight: Some tax-related issues can’t be completed by all tax compliance systems, which has resulted in a market for specialty systems that provide specific tools for firm needs. This year’s winner, New River Innovation’s Beyond415 is new to the category, and was also a recipient of a 2011 Innovation Award (www.CPAPracticeAdvisor.com/10279737) for its IRS response system. BNA’s Estate and Gift Tax reporting systems came in second, followed by DynaTax for its quarterly estimated tax calculators, and FT William.com for the company’s pension compliance reporting system.
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