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rlavina1
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| Number of Posts: | 4 |
| Registered on: | 2/4/2016 |
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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!
1
re: Taxfyle. New Tax Prep Website for CPAs. Is it legit?
Posted by rlavina1 on 2/8/16 at 3:40 pm to LSUFanHouston
Hi Guys,
We appreciate the insight as we aim to make the process of accepting and completing work as fluid as possible.
To LSUFanHouston's point, we are appealing to the market of individuals that view tax preparation as a commodity (the 70%). Our target market are millennials who in most cases have simple returns and don't require constant support or complex planning from a CPA. We are promising our clients convenient (through app) and quality services (CPA workforce) at a cheaper price than they would find at their local brick and mortar tax preparation office.
The CPA's are offered an opportunity to supplement their income without the effort of soliciting potential clients.
To address Poodlebrains concerns, any communication with the clients will need to be done through our in app messaging system. These communications are encrypted to ensure confidentiality of private information. Should any disputes arise between CPA and client/customer, we will make our records available to the necessary parties. This functionality supports the AICPA's SSTS No. 3, regarding due diligence. A member may in good faith rely, without verification, on information furnished by the taxpayer or third parties. If required to substantiate documentation for a reported deduction, a member should make appropriate inquiry through our app's chat feature in satisfaction of such condition. A prepares declaration on the tax return states that the information is true, correct, and complete to the best of the preparers knowledge, this does not require a member to examine or verify supporting data. Although a member holds certain responsibilities in exercising due diligence, the tax payer has the ultimate responsibility for the contents of the return. Our app makes use of a taxpayer’s returns for one or more prior years to help in preparing the current return. Reference to prior returns and discussion of prior-year tax determinations with the taxpayer should provide information to determine the taxpayer’s general tax status, avoid the omission or duplication of items, and afford a basis for the treatment of similar or related transactions.
We appreciate the insight as we aim to make the process of accepting and completing work as fluid as possible.
To LSUFanHouston's point, we are appealing to the market of individuals that view tax preparation as a commodity (the 70%). Our target market are millennials who in most cases have simple returns and don't require constant support or complex planning from a CPA. We are promising our clients convenient (through app) and quality services (CPA workforce) at a cheaper price than they would find at their local brick and mortar tax preparation office.
The CPA's are offered an opportunity to supplement their income without the effort of soliciting potential clients.
To address Poodlebrains concerns, any communication with the clients will need to be done through our in app messaging system. These communications are encrypted to ensure confidentiality of private information. Should any disputes arise between CPA and client/customer, we will make our records available to the necessary parties. This functionality supports the AICPA's SSTS No. 3, regarding due diligence. A member may in good faith rely, without verification, on information furnished by the taxpayer or third parties. If required to substantiate documentation for a reported deduction, a member should make appropriate inquiry through our app's chat feature in satisfaction of such condition. A prepares declaration on the tax return states that the information is true, correct, and complete to the best of the preparers knowledge, this does not require a member to examine or verify supporting data. Although a member holds certain responsibilities in exercising due diligence, the tax payer has the ultimate responsibility for the contents of the return. Our app makes use of a taxpayer’s returns for one or more prior years to help in preparing the current return. Reference to prior returns and discussion of prior-year tax determinations with the taxpayer should provide information to determine the taxpayer’s general tax status, avoid the omission or duplication of items, and afford a basis for the treatment of similar or related transactions.
re: Taxfyle. New Tax Prep Website for CPAs. Is it legit?
Posted by rlavina1 on 2/5/16 at 9:53 am to Golfer2012
This is our inaugural year and our business model right now is exclusive to CPAs. However incorporating attorneys is something we have been considering and could be viable soon.
re: Taxfyle. New Tax Prep Website for CPAs. Is it legit?
Posted by rlavina1 on 2/4/16 at 10:26 pm to LSUFanHouston
Gents, thank you for the interest and open discourse. I'm the co-founder and CEO of Taxfyle and would love to chime in.
CPAs aren't required to purchase the software, we make it available to only those that need it. Once signed up you can check out the dashboard and pick up any jobs you like, no obligations. You'll know exactly what type of forms are needed, if there is a state tax return required, the due date and how much you'll make. There is also a fully integrated and encrypted messaging system to improve efficiency and transparency.
Please feel free to visit taxfyle.com and click the chat button if you have any further questions. We look forward to disrupting this tax season!
CPAs aren't required to purchase the software, we make it available to only those that need it. Once signed up you can check out the dashboard and pick up any jobs you like, no obligations. You'll know exactly what type of forms are needed, if there is a state tax return required, the due date and how much you'll make. There is also a fully integrated and encrypted messaging system to improve efficiency and transparency.
Please feel free to visit taxfyle.com and click the chat button if you have any further questions. We look forward to disrupting this tax season!
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