TaxACT Purchases Balance Financial
If you have been following the news surrounding TaxACT as of late, you may have noticed that they just purchased a financial tools provider known as Balance Financial. This is a huge move for the company, and bodes very well for the future of TaxACT. At the same time, it gives the smaller Balance Financial the stability that is needed to continue working on the stellar tools that they have been making, which have been recognized by both Entrepreneur Magazine and CNN Money for their high level of quality.
In many ways, the pairing of TaxACT and Balance Financial is perfect because both companies already share the same goals. They are dedicated to providing people with the tools that they need to prepare their taxes correctly on their own. They also want to provide additional tools that can help people in all manner of financial situations, no matter how unique they are. Online tools are very powerful because they can be updated and changed as they need to, and TaxACT made this move because they were interested in being at the forefront of the industry. Acquiring a like-minded company gives them the manpower and the innovation to do it.
At the most practical levels, there will not be much change for either TaxACT or Balance Financial. They will both keep their offices in place, in Cedar Rapids and Washington, respectively. The CEO of Balance Financial will continue to work with the company and help drive innovation. The main difference is that both companies are now going to have a lot more resources with their combined groups, so they should be able to keep things moving forward quickly.