Why did we create TaxExact?
Hi, I’m Pat Roberts, Certified Public Accountant and the founder of TaxExact.
Like you, I thought tax errors and IRS notices just “came with the territory” and the only way I’d be able to eliminate them was to spend a ton of time and money on software or training. It wasn’t until 2012, when I opened my own CPA firm, that I realized there was another way.
Shortly after opening, I became inundated with work and needed help with preparation. As a short-term solution, I recruited my office managers and trained them how and where to enter the data into our tax preparation software that would ultimately generate the tax return. But doing this wasn’t enough — I had to make sure that I could quickly and efficiently catch any input errors made by them, all the while upholding my promise to deliver the highest quality possible to my clients.
That was my “ah-ha” moment.
In that moment, I realized the only way to truly do that was to create a separate tax return completely independent of the tax preparation software. Only then, after recreating the tax return and applying my knowledge of the tax code, could I go back to the tax preparation software and say, “this is what I expect the results to be.”
Since then, TaxExact very quickly became a revolutionary concept that inspired our entire quality control process and our efficient workflow, and it has since single-handedly saved our firm tens of thousands of dollars in mistakes. In fact, over the last 6 years, our firm has yet to receive a single IRS notice because of an error we made during the tax preparation process!
The best part? Final review time has been reduced to minutes per return, allowing my final reviewers to spend less time away from their families and personal priorities during tax season. And, with my own review time reduced to minutes, I’ve been able to focus on growing the advisory and consulting services I had envisioned when I started the firm.