Online Taxman

BACKGROUND

Please describe your company and position.

I am the COO of an advertising & marketing company.

Describe what your company does in a single sentence.

Marketing and advertisign agency

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Online Taxman to accomplish?

• File Taxes

SOLUTION

How did you find Online Taxman?

Referral

Why did you select Online Taxman over others?

Referred to me

How many teammates from Online Taxman were assigned to this project?

6-10 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

We had them manage book keeping, tax returns and tax consultation across multiple entities and our personal finances. 

• Monthly book keeping
• Federeal tax returns
• State tax returns
• Tax return extensions

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

• On time tax return filings
• Monthly book keeping
• Avoiding penalties and fees
• Optimizing tax obligations 

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Extremely uncoordinated. There was often multiple points of contact. Points of contacts would switch every year so each year it felt like starting with a new firm. The same questions were asked, often the same mistakes were made, there was never any continuity. It feels like they have a very poor SOP.

What was your primary form of communication with Online Taxman?

Email or Messaging App

What did you find most impressive or unique about this company?

nothing

Are there any areas for improvement or something Online Taxman could have done differently?

I've been with them since 2020 - a quick summary of issues from just this year
- They forgot to file my state tax extensions for 2023, despite handling this in previous years. Then tried to blame me for it

- They have zero continuity from year to year - They ask the same questions repeatedly, showing zero understanding of my financial situation. The constant staff turnover means no consistency in service. Every year, it's like starting from scratch.

- They've filed wrong tax returns for my businesses, costing me over 5 figures in fines and penalties. Their attention to detail is non-existent. They managed to confuse LLCs and S corp returns

- Their pricing is outrageous and random. They quoted me $750 for a business return, then suddenly hiked it to $1200 a few months later. The CEO then proceeded to tell me "it's inflation, you're a business owner, you'll understand". They even charged me a full return fee for a simple amendment.

- They provided terrible advice about hurricane Ian extensions led to massive late filing penalties. Then of course blamed me for it.

This firm's negligence and incompetence have cost me upwards of 5 figures in fines and penalties, not to mention money left on the table due to their poor tax advice. Absolutely the worst CPA firm I've ever dealt with. Avoid at all costs.

BACKGROUND

Introduce your business and what you do there.

We are a small scientific research platform that runs clinical trials in nutrition and food science. I'm the principal and CEO.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Online Taxman?

I hired them for their accounting services.

SOLUTION

What was the scope of their involvement?

They do my end-of-year taxes and a few other accounting tasks. I do my own bookkeeping, but they help with filing. They are only sporadically available. When they first started working with me, they did a lot of the filings related to my incorporation requirements. I've had to go back and redo that work several times.

What is the team composition?

I work with at least three members of their team. I believe one of those contacts is a partner, and the other two are accountants.

How did you come to work with Online Taxman?

A friend uses them and recommended them. I hired them based on that recommendation.

How much have you invested with them?

I spend about $1,200 a year for them to file my taxes. I'm tempted to ditch them in favor of an online platform I started using this year.

What is the status of this engagement?

I've used them for my 2016, 2017, and 2018 taxes.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

They file my taxes. Beyond that, I'm not skilled enough to say how accurate they were. Judging by their services, I'm probably not going to use them much longer. I've never had any major issues, but that’s because I keep my books clean and up-to-date on my side.

How did Online Taxman perform from a project management standpoint?

Most of our contact with them is toward the end of the year, but I've faced constant issues with them. Most of our communication is through email or phone. If I had to grade them, I'd give them a C minus overall. They only give short answers, and it took a long time for them to file everything correctly. They're quicker to bill me than they are at problem solving. Issues rarely get resolved unless I go in and fix them myself.

What did you find most impressive about them?

I can't say I'm impressed with anything they do. There's nothing noteworthy or distinguishable about their work.

Are there any areas they could improve?

I paid them to set up my LLC, but I have to spend a half-day each year with my local office of revenue to correct ongoing issues. They don't seem to have the expertise they promised.

Do you have any advice for potential customers?

Choose another option. I would not recommend them.