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Message
re: Taxfyle. New Tax Prep Website for CPAs. Is it legit?
Posted on 2/9/16 at 6:57 am to LSUFanHouston
Posted on 2/9/16 at 6:57 am to LSUFanHouston
quote:
While I think there is a lot of potential in your company, what your are offering is very much a subcontractor relationship. The taxpayer's relationship is to you, the Taxfyle company, not the CPA. As such, in most subcontractor relationships in the tax world, the subcontractor does not sign the return. I would be happy to consider, under the current circumstances of your company, preparing the return as a subcontractor, with the understanding that the return will be reviewed and signed by a competent, licensed CPA that is an employee of your company. I understand and accept that I would be paid less than if I was signing the return, but to me, the additional compensation is not worth the additional risk of having to sign a return without full control of the process.
This is basically what I posted. You are limiting your current pool of preparers with your current model because of the worries we all expressed. You do what I and LSUfan have just described you bring a large number of CPAs into the process and it will allow you to scale quickly. In most firms, only managers and above sign returns....and most CPAs leave public accounting prior to becoming a manager thus never signing a return. You eliminate that risk, and you've opened up the floodgates of qualified people that WILL sign up and participate. I just got out of public practice and am looking for exactly this. Regardless of your decision, I love the idea.
1
Posted on 2/9/16 at 1:02 pm to Jabstep
Hello everyone,
Wanted to make sure we address each of your points below:
Poodlebrain -
We don’t have a standard engagement letter, rather, we provide both CPA's and the clients with Terms of use. This is not something we can provide on this forum, however, if you sign up and complete registration as a CPA with Taxfyle, you will be privy to such information. Note that there is no cost for a CPA to sign up and register.
Jabstep -
1. Correct, you are the CPA's signing the return.
2. Correct, you will use your own PTIN and EFIN. When CPA's register, we request proof of EFIN and PTIN and use this in support of our background checks. We also request the CPA license number to confirm there is no disciplinary action on record for the CPA's we accept in the Taxfyle community.
3. At the moment we are not providing E&O insurance to cover the preparer. CPA's are expected to maintain their own insurance.
4. We encourage preparers to use whatever software they are most comfortable with, however, if a CPA doesn't have one of their own, we are partnered with Wolters Kluwer to sell Taxfyle software. Efiling is free for those using this software with our clients... efiling with your own software or with non Taxfyle clients (if you purchase our software) will cost $2 per return.
LSUFanHouston -
At the moment, all communication is through in app text. We do this to protect the innocent party should a conflict arise. It is difficult to monitor video/audio communications, while with text, we are better able to maintain records of all conversation between parties.
As a CPA myself, I understand the value of the license. We ensure that should a conflict arise, the terms of use signed by the client and the CPA will uphold the highest professional standards and protect the integrity of our members.
Taxfyle's goal to build a reputable brand in the accounting services industry. We hope to provide an opportunity for those with a professional license and a limited book of business of their own to join Taxfyle under the umbrella of quality service. This is a reputation that will have to be built through both our CPA's and terms. We understand that we are requesting CPA's to sign a return while they are only acting in a subcontractor role, however, we have tailored our terms to outline and protect the role each party is accepting. At the moment, an in house CPA that would review and sign all returns for engagements initiated by Taxfyle is not part of the business model.
We greatly appreciate the back and fourth as we are always looking for ways to increase our client and CPA pool. If interested, we would encourage you to signup and register as a CPA as it is no cost to you. If you are open to the opportunity and feel comfortable with the terms, this could be a lucrative relationship for those with professional certifications.
If you guys have anymore questions, please feel free to reach out on Taxfyle.com. We have 24/7 support available to answer any questions.
Thanks!
Wanted to make sure we address each of your points below:
Poodlebrain -
We don’t have a standard engagement letter, rather, we provide both CPA's and the clients with Terms of use. This is not something we can provide on this forum, however, if you sign up and complete registration as a CPA with Taxfyle, you will be privy to such information. Note that there is no cost for a CPA to sign up and register.
Jabstep -
1. Correct, you are the CPA's signing the return.
2. Correct, you will use your own PTIN and EFIN. When CPA's register, we request proof of EFIN and PTIN and use this in support of our background checks. We also request the CPA license number to confirm there is no disciplinary action on record for the CPA's we accept in the Taxfyle community.
3. At the moment we are not providing E&O insurance to cover the preparer. CPA's are expected to maintain their own insurance.
4. We encourage preparers to use whatever software they are most comfortable with, however, if a CPA doesn't have one of their own, we are partnered with Wolters Kluwer to sell Taxfyle software. Efiling is free for those using this software with our clients... efiling with your own software or with non Taxfyle clients (if you purchase our software) will cost $2 per return.
LSUFanHouston -
At the moment, all communication is through in app text. We do this to protect the innocent party should a conflict arise. It is difficult to monitor video/audio communications, while with text, we are better able to maintain records of all conversation between parties.
As a CPA myself, I understand the value of the license. We ensure that should a conflict arise, the terms of use signed by the client and the CPA will uphold the highest professional standards and protect the integrity of our members.
Taxfyle's goal to build a reputable brand in the accounting services industry. We hope to provide an opportunity for those with a professional license and a limited book of business of their own to join Taxfyle under the umbrella of quality service. This is a reputation that will have to be built through both our CPA's and terms. We understand that we are requesting CPA's to sign a return while they are only acting in a subcontractor role, however, we have tailored our terms to outline and protect the role each party is accepting. At the moment, an in house CPA that would review and sign all returns for engagements initiated by Taxfyle is not part of the business model.
We greatly appreciate the back and fourth as we are always looking for ways to increase our client and CPA pool. If interested, we would encourage you to signup and register as a CPA as it is no cost to you. If you are open to the opportunity and feel comfortable with the terms, this could be a lucrative relationship for those with professional certifications.
If you guys have anymore questions, please feel free to reach out on Taxfyle.com. We have 24/7 support available to answer any questions.
Thanks!
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