INTUIT TO LAUNCH SMALL BIZ TAX Intuit plans an aggressive product launch of tax software for small businesses, including a TurboTax Estimated Income Tax Filer product.
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The quarterly estimated application will calculate and file and will be available for a $50 annual subscription, according to Gordon Whitten, general manager of Intuit's small business tax initiative, in a presentation made at Intuit's annual Investor Day. Whitten pictured the application as a great help to accountants.
"They don't know if a small biz did or didn't do it [file]," Whitten said. Intuit is planning a line that will include sales and use, property, and payroll tax software.
ORRTAX HIRES DIRECTOR
Orrtax Software Solutions has named Tom Yosick director of development, with responsibility for overseeing product development, tax development, and the efiling center teams
Yosick has 17 years of experience in software engineering and management. He joins Bellevue, Wash.-based Orrtax after working at WRQ, where he was director of development, and Holistic, where he was a founding executive and vice president of engineering.
CCH/SAGE DO CANADIAN DEAL
Sage Software and CCH, which entered a partnership last year, announced another step with Sage and CCH Canadian agreeing to coordinate marketing activities involving Sage's Simply Accounting and CCH's Canadian products.
The companies plan to expand the marketing alliance later to include shared product functionality and integration. Sage and CCH initially hooked up when Sage referred its tax preparation customers to CCH after dropping its own Visual Tax software line.
BNA INFO GOES ON TRN
Tax-related content from BNA, including BNA Portfolios, is being made available to subscribers of the CCH Tax Research Network.
CCH subscribers can access BNA's Daily Tax Report, which monitors major domestic and international tax developments that affect U.S. tax laws. The agreement also provides access to more than 400 BNA Tax Management Portfolios.
ATX, PAYCYCLE ALLY
ATX/Kleinrock, based in Rockville, Md., has entered an agreement with PayCycle to provide Web-based payroll services to users of its tax preparation and tax research products.
Payroll data can be exported from PayCycle to a variety of ATX accounting products, including Total Accounting Office, Client Accounting Office, Cash Command, and Total Command. PayCycle provides the Wholesale Payroll Program for Professionals, which starts at $14.99 per month for the first 10 clients.
INTUIT HIRES CFO
Intuit has named Kirn Patel as its new chief financial officer, following the decision of Robert "Brad" Henske to move to the job of running the company's QuickBooks operations.
Patel most recently worked at Solectron. Henske had served as acting CFO until his replacement could be found. Patel received a sign-on bonus of $350,000 and an annual base salary of $675,000. He will get a $350,000 fully vested contribution to his executive deferred compensation plan after a year with the company, and is eligible for a bonus of up to 75 percent of his base salary.
CASEWARE ADDS CONVERSIONS
CaseWare International has added built-in conversions for a number of competing engagement products, including GoSystem Audit, ProSystem fx Engagement, and ePace Engagement, to CaseWare Working Papers 2005, the latest version of its engagement application.
The system can transfer accounting data, lead sheet and sub-lead sheet, tax export, and consolidation codes, with the option to include adjusting, reclassifying, and tax adjustment entries.
INTUIT ENTERS FINANCIAL PLANNING
Intuit is entering the financial planning market with PortfolioMinder, a Web-based subscription product that was scheduled to debut last month.
Priced at $1,800 a year, the new product is designed for independent financial advisors with fewer than 100 clients. Peter Karpas, vice president/general manager of the Quicken Solutions Group, told attendees at Intuit's annual Investor Day that this is the first of six potential products for financial planners.
INTUIT'S SMALL BIZ TAX VIEW
Accountants Exclusively - 43%
Collaborate - 37%
Do it Yourself - 20%
Intuit says that its research shows that 57 percent of its QuickBooks customers are willing to prepare some or all of their taxes. The company is planning a line of tax software for small business.