More options from tax software - Evaluation

Nation's Business, March, 1992 by Ripley Hotch

ChipSoft, publisher of TurboTax, the leading tax-preparation software package, is moving to stay ahead of its competitors. First, it acquired MacInTax, the leading tax package for the Macintosh. Then it brought out a version of TurboTax for Windows. Now it is offering limited-use licenses for some of the professional series of its products.

Ordinarily, TurboTax programs include only the personal Form 1040 and all supporting forms at about $79.95 (suggested retail); Windows, $99.95. For the corporate and partnership returns, you had to buy the program, which runs $399, with modules for the specific returns at $399 each, because professional tax prepares used t for several clients.

The limited-use license allows users to prepare one return for corporation (1120), S-corporation (1120S), partnership (1065), and fiduciary (1041) returns at $129 each.

Alan Gleicher, president of ChipSoft's personal division, says, "We think many small-business owners would be interested in doing their own taxes completely in-house, if the right software were available at the right price."

Leonard A. Magazine, owner of Real Estats, a statistical-analysis service in Clark County, Was., has been preparing his return on TurboTax for years. He has several businesses, so his return runs 45 to 50 pages. He now uses the Windows version and has it linked to Quicken, the financial-management software from Intuit.

"TurboTax is superb in the Windows environment--you're looking at your tax return on the screen," says Magazine. He likes the online help and the fact that you can enter information when you need to, one time. "Printouts are wonderful, as nice as the forms the IRS sends you, with all the numbers there in the form." Besides, Magazine adds, "It's cheaper than a CPA."