StanfordTax is not ‘tax software,’ it’s a “tax information collector” that works with your tax software to automate the collection of a client’s tax information using the power of Artificial Intelligence. With StanfordTax, you will reduce the time you spend collecting a client’s tax information and substantially reduce the time your clients spend providing that information.
Initially, an accountant imports clients from their tax filing software. Standford tax integrates with tax platforms, including CCH Prosystem fx, CCH Axcess, UltraTax, Lacerte, ProSeries, Drake, and ATX.
Source: StandfordTax
StanfordTax integrates with the tax software to process each client’s prior year tax data. StanfordTax works with 1040, 1120, 1120S, and 1065 returns.
Source: StandfordTax
Using this prior tax data, StanfordTax’s AI engine generates a personalized questionnaire for each client. This custom questionnaire approach is vital because traditional PDF organizers have a completion rate of less than 25%, while StanfordTax questionnaires have a completion rate above 75%. This completion rate is attributable primarily to the ease of use and personalized experience.
The personalized client questionnaire is very user-friendly. It asks questions one at a time to guide clients through the information and documents the automated questionnaires provide.
Source: StandfordTax
The questionnaire will automatically skip over irrelevant questions while keeping track of all information and documents the client still needs to provide.
Source: StandfordTax
StanfordTax will even send reminders to clients for information & documents they haven’t yet provided.
Source: StandfordTax
Once a client completes their questionnaire, StanfordTax uses AI to generate a PDF work paper with the client’s tax information and documents automatically categorized and bookmarked.
For more information, head over to the StanfordTax website. You can even watch a half-way hilarious YouTube demonstration of StandfordTax by Jason Statts while you are there.
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