Another Increase in Tax Cycle Fees… It was $1,750 back in 2020 and now its $2,050…What is causing this?
Now its user base is reached to a sizeable level and it will charge the price other competitors are charging. Normal business strategy.
Dharma
That’s an avg increase of 5.6% pa over 3 years. I look at my software costs in relation to the revenue they help generate. My fees have increased more than their cost. Not that I’ve been looking, but I feel TaxCycle is better than the alternatives.
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I too am disappointed in the major price hike… this software for a one person firm is starting to get very very expensive… expected it with the sale… sad
XERO is expert at extracting increasing fees from clients. I guess this was inevitable as they need (want) to recover investment funds.
As @rachelavryl points out this is beginning to price out small one-person firms. (Seems stupid that an organization would do this, but given the dearth of competition, that, too is inevitable. As always what it means is that we charge OUR clients more for the exact same service as always…and take the heat for doing so.)
So thanks for not much, TaxCycle. We’ll see whether you have your usual “summer sale” again, as that’s when I purchased last year.
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As a 1 person operation I’d like to see a “lite” suite option that is limited to fewer modules (w/correspondingly lower cost)?
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…or maxxes at some given number of returns.
Problem is that I do “some” T1, “some” T2s, a couple of T3s, a few T3010s (all pro bono), and a mess of T3, T4 and T5 slips for those folks. I hardly ever do T5018s and none of the junk slips.
I could get along without DC and the Client Manager, both of which screw up more than they help. I do ZERO ON or QC corps, so even “Tax Basics” has things I don’t need…but doesn’t have things I do need.
It’s like they took lessons from cable companies on how to … strategically … manage sports contents so you have to purchase the biggest package, whether you want it or not.
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Taxcycle has a la carte pricing. If you want you can just pay for the modules you need.
Have you looked at that ?
If you bought T1 + T2 modules total more than the smallest bundle.
Personally, I do not need unlimited T2s… wish there was a limited number or by per use version.
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LOL - I added those up and it was $2,650…so that is what makes the bundle a “deal”.
Like my cable “deal” where I pay $100/month and I watch … hockey. That’s it. I have probably 100 channels (of which about half are “duplicates”). But that’s what I need to pay to get Sportsnet in all its flavours, because if I don’t pay that much I don’t get the ONE TEAM’S games I want. This is how companies lose customers…and decrease trust. There’s not a lot of choice in tax, so we’re a captive (and exploitable) group. Same in the professional accounting program world.
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Still paying $2,147 for the whole suite, and will never have a price increase due to the ‘founders’ rate’, as I have been with Taxcycle since inception. That being said, Canadian tax software is dirt cheap. Am paying over $7,500 per year to do about 60 US returns. What you guys have to get used to is passing on the software cost to the client…
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Bert - you should check out ATXInc.com for doing US taxes. I will admit it’s not the most user friendly compared to the Canadian software but it’s not too bad and I pay about $1,000 US for unlimited federal returns and unlimited for 3 states (California, Arizona and usually one other depending on my needs that year) and it works well. I am up to 33 returns and will probably hit 50 for the year. I have been using it for 25 years or so. My total tax software costs run about 6-7% of what I bill out for the year. Definitely climbing faster than my fees - I need to increase my rates a bit again probably.
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how do others get founders rate, i switched when t/c came out too
Talk to Marc
I’m trying to understand how this is a savings considering that the current 2023 TaxCycle price for the
" Complete Paperless Tax Suite 2023" is $2,050 (save $200) (Reg: $2,250), so less than what you are paying if you buy it during Sale pricing.
If this ‘founders’ rate started when TaxCycle was founded, it would imply that you overpaid all these years since inception. So if I’m interpreting this correctly, once fees start increasing above this rate starting 2024 forward, then the price will average out and eventually you’ll be ahead.
$2,045 before GST. $1,450 for Taxcycle/Doxcycle, $595 for Taxfolder (which I dropped, as I opted to go with e-courier instead).
Will have to have a discussion with Wolters Kluwer - use Prosystem FX right now…
im staying with adobe for e-signatures
My (tax) software cost is about 12% of my (tax) billings.
With the increasing costs of groceries, fuel, home utilities, mortgage interest rates, please do not be so flippant about passing on software costs to the client! Sad world when we can’t respect each other!