It's finally happened: a group of CPAs think they build a better mousetrap--or online tax preparation service--than the big guys like H&R Block, Intuit and H.D. Vest.
The company is based in Encino, CA, and is called Taxes4Less.com. It is run by Russell Gotlich and Gregory Yulish, both formerly with Arthur Andersen.
One of the main differences between their company and the larger ones is the ability to personally attend to tax returns and complete the electronic transaction. Users log on to the system using a password, enter their figures and other items, and tax preparers begin working on the returns. Cost is about $90 for an average return.
Already, the company has attracted $1.5 million in venture capital, and of course, the transaction has been approved by the IRS.