Has anyone noticed the 19% increase in price? Last year I renewed at $2,050, this year, it looks like $2,390, a 19% increase. I’m sure if I told my clients they were in for a 20% fee increase with no increase in my service level, I’d be looking for more clients to replace those that choose to leave. Any thoughts?
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I did. Very disappointing.
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I am about 9 months in to my first year with Taxcycle. Received an email a few days ago that seems to indicate that my cost will be lower this year.
As yet I’ve received nothing, but I usually sign up during the annual sale period (September).
Xero now squeezing all of us. Typical. Doesn’t give me the warm fuzzies. At all.
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Yes, I was disappointed to see this as well, it would be appreciated if they could detail why there was such a large increase in pricing. I guess my rate increases for this year just went out the window as I try to be fair with my clients and just have minor increase. I did renew this year but will watch prices for next year and may have to change programs.
I doubt if I’ll be changing. I used Taxprep in 2000, but it’s horrendously expensive. CanTax is probably on a par with TaxCycle, but in a couple of years, you’ve got 6-8 separate installations on your computer.
Well, everything else has gone up by at least 20% (insurance, gas, food, property taxes, etc) - how can we expect TaxCycle to keep their subscription prices the same, if they have to pay their staff 20% more just to keep pace with the cost of living?
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I understand they have to increase their prices, I have no problem with that, but I think an increase based on the inflation rate would have been more reasonable.
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Here’s the rub(s) though:
Not “everything else” has gone up by 20%…some things have, for sure, but the general cost of living has not escalated by that amount in the past year. CPI increase over 2023 is just under 3%.
Notwithstanding that, and, as accounting folks, we DO understand economics and price increases, cost of production etc…for those of us in what we can gently call “the nether years” of our work life, the cost has increased dramatically compared to the work volumes produced. I wouldn’t give a *&^% in the years I was doing 600 T1s and 100 T2s. But now I do ~40 T1s (of which a not insignificant group is family/friends) and maybe 20 T2s, plus a random assortment of related slips, a couple of T3s (one is mine) and some T3010s (mostly pro bono), so the escalation in cost vs volume is more significant.
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Pleasant surprise. My renewal is the end of June, and the price hasn’t changed from last year. I have their “Complete Tax Suite”. I really hate looking for new software, especially if the only reason is price. So, I’m a relatively happy camper again.
I need to find something cheaper than Sage to recommend to my clients. A couple of years ago, they switched to a subscription-based application, forcing businesses to pay around $800/yr, or their data is locked. Some on Sage Premium are paying $1,400. Nothing new, Quickbooks have been doing this for years. Still have 1 client on the 2007 version. Still works for his business.
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Yeah, I guess you’re right, if we consider only the last year. But, it seems like the cost of living increased about 50% since 2019 (i.e. gas was about $1.20 then, and is over $1.90 now; food maybe even more). My price for TaxCycle increased about 26% over that period.
I thought something wasn’t quite right with my renewal pricing. Somehow I was looking at the 2023 renewal. My price for 2024 is $2,390. 17% over 2023. 57% over my 2017 price. If I tried that with my clients, I wouldn’t need a tax program at all.
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Sadly true…
As a ‘founder’, I will always pay $1,522.44 for the complete suite. Regular $2,490 now.- 63% increase since 2012 - which is actually only a 5.25% increase per year. Even if I had to pay $2,490, it would be worth every penny. And like many commenting here, I am in the twilight years of my career.
Compared to the US tax software I use, Taxcycle is a steal, as it also is a much better engineered product. I pay over $7,000 for US tax software…
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My pricing also went up approximately 19% and when I spoke to a rep at TaxCycle I was informed that it was a price correction. As others have commented TaxPrep is pricey and I cannot even try to package individual products in TaxCycle to meet the all in suite price - deliberate? Thank goodness I too am in my twilight years and will be able deal with other matters.
I just changed this year from Cantax to TaxCycle for T2, and the subscription price per annum is substantially more affordable for a product of its caliber. I have no problem paying.
As for those mentioning taxprep … we use taxprep primarily for public companies, as it was designed for initially. The subscription price is not catered towards small, or even medium sized firms for that matter. It’s a different ballgame altogether.
I’ve used TaxCycle since 2017. My 2024/25 renewal is $2,390 - a 17% increase over last year, and a 57% increase since 2017. How many of us were able to increase our fees by those percentages? None, would be my guess. I’ve been at this game now for over 51 years and I intend to semi-retire in 2036, so I dread to think what it might cost by then.
Having said that, there’s probably no other product out there that can touch it. I used CanTax from around 1990 until 2017. It worked great. Had excellent diagnostics for T1 & T2. One of its functions, which I found embarrassing in TaxCycle, is the carry-forward to the current year of investment tax credits used in the prior year. I was always used to CanTax carrying those over as Sch.8 adjustments, and I didn’t even check the carry-over in TaxCycle. Sometimes it worked and sometimes not. But,what was an absolute nightmare in CanTax was the installation procedure. Each module (T1, T2, & FormMaster) was a separate installation. To make matters worse, each year was a new installation. Using 3 modules for 10 years resulted in 30 separate versions. It’s so easy with TaxCycle. One installation - all modules - all years. It creates separate directories for each type of return for each year. The CGI file for associated/related T2’s is a great tool.
I don’t understand how we can all have different pricing… Mine is $2469 for 24/25 for complete tax suite plus taxfolder. This is actually $300 less then what I paid for 23/24.