Microsoft Preps Money 99, TaxSaver

Welcome Guest. | Log In| Register | Membership Benefits

July 28, 1998 (12:00 AM EDT)

Microsoft will heat up the personal-finance arena this fall with the introduction of an upgraded version of Money and a new tax-software title dubbed TaxSaver, sources said.

Money 99, which will be available in two stock keeping units at retail stores in September, is packed with many new features, including the ability to set up a personal profile and receive bills electronically. The software also includes a new budget planner and lifetime planner (deluxe version only), and employee stock-options tracking features, according to company documents.

The safe advertising date for the Money 99 Basic and Money 99 Financial Suite (deluxe version) is August 27, sources said. It will be officially announced August 17.

One of the most interesting new features in Money 99 is a tax-deduction finder, which will not only steer users to helpful loopholes, but to Microsoft's forthcoming tax-software title.

Sources said the tax title, formerly code-named Taxman, will go head-to-head against Quicken TurboTax and Block Financial's TaxCut and will be released by year's end, when most tax titles hit the shelves for the 1999 tax season. Sources also said Microsoft (company profile) is preparing a small-business edition of TaxSaver and has executed a deal with one of the top six accounting firms to use its name on the box.

Retail sources said Microsoft plans to offer significant rebates to gain market share in the personal-finance and tax-software markets currently dominated by Intuit. Microsoft attempted to buy the Mountain View, Calif.-based company in 1995, but the deal was quashed by the government. "They're going after this market hard," said one source. "They'll offer bigger rebates, especially if [Money 99] is purchased with MasterCard."

Microsoft also held discussions with Block and other software suppliers, sources said, but eventually licensed some code from a former maker of professional tax-preparation software and developed some of the user-interface code in-house, they said.

The deluxe version, Money 99 Financial Suite, is now being advertised on a handful of retail websites. The program will also include a new Financial Plan, Decision Center, Market Place, Investment Search, and Investment Watch List. The lifetime planner in the deluxe edition helps users prepare for college costs, home purchases, and retirement. Additionally, the software will include six months of free access to the Microsoft Investor website, and an Answer Wizard that uses Microsoft's Natural Language Technology.

The Money 99 Basic and Financial Suite deluxe versions are currently advertised on one retail website for $28.75 and $57.44, respectively. Microsoft's pricing was not available at press time.