Sure Prep

Has anyone used the Sure Prep software? We are looking at the 1040Scan and the Tax Caddy software packages.

Just curious if it saves enough time on the preparation and review to justify the cost of the software?

Our firm prepares around 2000 personal tax returns of varying complexity.

We use both.
I think the savings may depend on the complexity of the returns and your fee structure.
Most clients like Tax Caddy.
For Sure Prep - I'd say it isn't worth it for an extremely simple return - say a couple of W-2s, a 1099 INT/DIV and 1098.
It isn't real good at complicated returns - K-1s, rental properties, Schedule C, sales of property, etc.
For medium returns- we eliminate the preparer step and have it go straight to the Reviewer.
The binder created by SurePrep makes a nice workpaper.

I used SurePrep with a previous firm for ~ 4 years, but it's been a few years since I used it regularly. I did a demo with my current firm a few months ago, and we decided that it wasn't a great fit for us right now.

SurePrep offers a few levels of service (their website goes over the details).

The "basic" service is called "1040Scan Organize". This uses their SPbinder workpaper tool for organizing & bookmarking standard tax documents. They use a proprietary format that is not PDF-based, but it can export to a PDF when finished for archiving in your DMS. It takes time to learn, but I think that it is faster then PDFlyer, TTC, or other tax workpaper products that are Adobe plugins.

Their "1040Scan Pro" service can also import data from these documents into several tax software platforms. I feel that they are "best in class" for recognition of tax info and for an excellent and efficient 1040 workpaper process (and are priced accordingly). There is a verification process that takes time. You may want to have the verification process performed by a low-level staff person or intern.

Overall, SurePrep is an excellent system, but it does take time to learn. It also requires that your team use yet another tool - and you might prefer not to do this if you already have a solid paperless workflow process for other types of work.

Ultimately, your existing workflow processes, the type of 1040s that you are preparing in your client base, and your budget for this type of tool will be the biggest factors in determining if this makes sense for you. If you have a large number of 1040s that are very complex (and that complexity is in standard tax documents - like dozens of K-1s) you will probably gain a lot of efficiency. If you have a large number of 1040s of low complexity, you may not see much benefit.

Good luck!

I don't use SurePrep but do use Gruntworx (same concept) and it is WELL worth the cost. There are times when I use Gruntworx instead of a preparer. Saves a ton of time and is extremely accurate.