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Started By
Message
re: Intuit TurboTax
Posted on 1/23/23 at 9:56 pm to KillTheGophers
Posted on 1/23/23 at 9:56 pm to KillTheGophers
quote:
TurboTax CPA
quote:
small CPA tax preparation firm.
They are the same people.
Intuit has been going HARD after small firm 1040 guys with the lure of basically just doing tax prep and not having to worry about getting clients.
H&R Block is trying to do this as well.
Every decent size firm I know has been either jacking up min price or straight up disengaging their smaller 1040 clients.
quote:
guess the money for CPAs will be on the audit / forensic accounting side.
Tax planning.
The future will be two fold. Mass market tax prep for most Americans, and high market CPAs with shrinking client lists but more time and revenue per client, with most of that coming from planning… and as alternative practice structures grow… more of that will be affiliated with private investment money.
1
Posted on 1/24/23 at 12:40 am to LSUFanHouston
quote:
Intuit has been going HARD after small firm 1040 guys with the lure of basically just doing tax prep and not having to worry about getting clients.
at 25-40 an hour or so. Woof.
quote:
Every decent size firm I know has been either jacking up min price or straight up disengaging their smaller 1040 clients.
Yep our minimum has doubled since last season. We’re very upfront about it now on our onboarding materials so there’s no confusion later on. They’re still coming.
Same story, either my old CPA retired or coming from TurboTax because it got too complained. Demand is incredible right now.
quote:
Tax planning. The future will be two fold. Mass market tax prep for most Americans, and high market CPAs with shrinking client lists but more time and revenue per client, with most of that coming from planning… and as alternative practice structures grow… more of that will be affiliated with private investment money.
This this and this. We’ve already transitioned a good chunk of focus and resources on this. Over the past year I’ve sold a lot of ‘outsourced CFO’ monthly arrangements. Full access to me, planning, bookkeeping, payroll, office visits, returns, 1099s. Demand for that is insane.
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