What are your thoughts on using TaxCycle’s “Tax Folder” option for $349 versus investing in a separate software portal like Tax Dome or another product? I am mostly focused on having a portal option available to clients so they can share their tax info with me.
Thank you.
That’s a good question. I’ve used Sharefile for a few years mostly as a way to collect and share client info and final copies of returns. Last year I tried automating more of the data collection and electronic signatures. Most clients ignore the portal and still ask for email or pickup for delivery of returns; most also email or drop off paper copies of their T1 info. Another roadblock is that getting to what’s advertised for Sharefile and TaxFolder (and other solutions) appears to be very clunky to me. I haven’t tried TaxDome but these “stream-lined solutions” just seem to add more time to the preparation and delivery process. Granted, more clients want to use e-signatures each year but it’s not increasing at a rate that justifies the additional planning/time to make anywhere close to a streamlined process. I’m better than average at technology but these solutions are not close to solving much at this point. I’d honestly be interested to know if and how anyone gets real value from these solutions.
I believe I get real value out of Adobe e-signature - i also use it to send a single document for review. Some of my oldest adopters of e-signature are those you would not expect to, then other professional people or technology minded people can’t seem to make it work.
I also use Client Track to send larger files for review, but very few people use it to send me documents. At least I offer them secure document transfer.
I use Verifyle for my portal and about 40% of my clients are very good about using it all the time especially if I manage to get the intro message out to them before they are ready to start for the year and about 40% that are hit or miss but mostly use it during tax season and about 20% that won’t use it at all. I use the free version which allows up to 3 work spaces (how I categorize clients) and unlimited clients but only 150 uploaded documents per work space so I delete the files and reset the portal as I finish with the clients. It also gives me added incentive not to let things sit for too long before finishing. My clients generally like it. The paid version is not that expensive either which doesn’t have a file limit for uploading - about $10/month I think. Signatures available with the paid version but not the free version. You can usually sign up for a free year through the CPA association if you are a CPA member too.
I use tax folder for just getting signatures on tax returns as I find it’s easier as it’s intergrated with Taxcycle. But for documents I use Tax Dome,and find it far more then just a client portal. For tax season I send out an email to clients and then a questionnaire asking questions for the tax return and clients can upload the documents as they do the questionnaire. Makes everything together and most clients are fine with it. I’m 100% digital and by using Tax Dome clients get regular updates automatically as I process the tax return and they also have the ability to do real time chat messages.
Tax folder seems good if you want to send your communications to TaxFolder directly from TaxCycle for signing.
You can also send other communications such as Client letter, list of documents, I customize the templates, they get sent to tax Folder and I get the client to consult in tax Folder.
What was taking me forever was the whole download and re-upload to another software (Adobe) and I wanted to cut that time out.
Besides that it’s simple, you can have the client upload and you can upload for the client.
Sharefile was one that I heard from a colleague - is customizable, reasonably priced and efficient…
I have used e-courier.ca for many years now, and I am very satisfied. It works like email (easy for the client to understand) and is 100% Canadian and secure. I use the e-sign feature they have which is much easier and better than DocuSign.