Our unwavering expertise is your key to success in tax planning, compliance, and deductions. Maximize your engagement margins and drive down operating costs by automating job sourcing to qualified professionals. Our tax team has expertise in majorly all tax software like Taxcalc, IRIS, SAGE, CAPIUM, CCH, taxfiler, Digita, Alphatax, etc. but with a little bit of handholding, we can work with the uncommon ones too. Your data is safe and secured at our place using secured server migration with SSL encryption techniques and remote access based solutions.
Provide your clients’ necessary financial and personal information to the outsourcing service provider. The outsourcing service provider will then use this information to prepare your clients’ tax returns and share the same with you. It’s also important to have a conversation with the outsourced tax preparation service providers about their security and confidentiality policies and procedures to make sure that they meet your expectations. Outsourcing is the practice of hiring a third party to handle work that would otherwise be done internally. When outsourcing income tax preparation, your firm flexes the preparation work to an external tax professional, who sends back a fully prepared 1040 return. A good outsourcing service offers a smooth, standardized workflow that makes their preparers feel like an extension of your own staff.
It is important to use the appropriate state guidelines when filing for payroll tax returns and check if you are eligible for filing additional tax returns such as federal and state unemployment tax returns. Our team has the expertise to ensure that your payroll tax filing goes smoothly, and your business complies with all rules and guidelines set forth by your respective state. Apart from satisfying your client requirements, tax preparation outsourcing will also help improve your client retention rates. Outsourcing your firm’s tax prep will free up more time so you can focus on growth & innovation and explore new specialized service offerings that will give your firm a competitive edge. Discuss with your outsourced service provider and analyze the pros and cons of each engagement model before signing on the dotted line.
Security and data protection
Countries to which these tasks are outsourced usually have cheaper labour available, which makes it profitable for UK-based accountants, despite the outsourcing costs involved. On average, in the UK, a staff accountant gets paid $30-35 per billable hour. However, if the same work was to be outsourced to a bookkeeping service provider based in India, it would cost around $20 per billable hour. Outsourced tax preparation services can provide accounting firms with myriad benefits. But just like every other option you have, you should do your research before signing up for a partnership with a third-party service provider.
- Opting for a service like QX Accounting Services ensures you have a reliable partner adept at managing the intricacies of tax preparation outsourcing.
- Data security will also be a concern in case you choose to work with a CPA near you.
- We back you with our professional tax service that takes care of minute details and informed in tax preparation.
- SurePrep was founded as a tax preparation outsourcing service provider in 2002.
- You can focus on your core business operations and reduce strain, in addition to saving the costs.
- He emphasizes on how efficiently the team set up everything remotely and executed all functions, without any hiccups.”
Outsourcing tax preparation provides access to competent tax professionals well-versed and updated with the tax & regulatory reforms. Statistics pointed out that the U.S. government collected $4.05 trillion in revenue from taxes in 2021. Of which, a whopping $2.04 trillion was raised only from individual income taxes.
What makes our services so unique?
Data security and confidentiality are vital for your accounting firm with increased data breaches. Partnering with an outsourced tax preparation service provider will ensure that your valuable, sensitive data is secure over the cloud using robust and cutting-edge security. Top accounting firms in the USA sign up with outsourced service providers that use the latest tax software versions with the latest security and encryption mechanisms.
Advisory and Consulting Services
While most accountants are swamped during the unavoidable, busy tax season, staying on top of data collection for a seamless tax filing process can be challenging. Outsourcing makes it easier to get ahold of someone when there are questions, but data collection, organizing, and sorting are also prompt so that risks can be avoided and deadlines can be met. We have a dedicated team of tax wizards who deliver exquisite tax preparation outsourcing according to your demands.
Strategic partners
And this fear is not simply limited to in-practice accountants, even CPA firms are equally worried about data exploitation. As per a study conducted by Accenture in 2003, 52% firms outsourcing their processes were concerned about proprietary data being illegitimately accessed and misused by competitors. This concern is because it is the responsibility of not just service providers but also accountants to ensure their clients’ confidential personal and financial information is duly protected.
Did you know that QXAS’ outsourced tax preparation services have helped this CPA firm achieve $99,000 in cost savings? To achieve affordable scalability and tremendous cost savings, and save more than 50%, outsource tax preparation to QXAS. While some of them manage the filing process independently, most seek professional help from CPAs or accounting firms. This is not just because they hate doing it themselves but mainly given how tedious and complicated the process is and need expertise and understanding of the latest tax regulations.
When confidential financial data is outsourced and handed over to an external bookkeeping service provider, the privacy of the documents is put at stake. Moreover, not all in-practice accountants are confident about using third-party services even after data encryption and other security features are employed. They are always fearful that private and confidential financial data of their clients may fall into the wrong hands, and miscreants could exploit the information.
But as long as you have their consent, it is not ethically and legally wrong. Once the tax return is filed, the service provider may also provide additional support, such as answering questions from the government (IRS) or representing the client in case of an audit. We bring you significant cost-saving along with top-notch tax preparation services.
SurePrep’s outsourced tax preparation services can help your firm prepare more returns without adding staff. Whether your firm is looking to grow its practice or simply combat workload compression, noncumulative preferred stock our full-time staff of trained professionals is here to provide year-round assistance. Outsourcing your company’s tax return preparation to QX is a straightforward process.
When filing for sales and use tax returns, there is often confusion between the two types. The sales tax is levied on all retail sales and transactions whereas the use tax is levied when the former was not levied at the time and if company intends to use or consume goods or services out of state. We are the best outsourcing tax preparation services company that uses modernized technological aid to optimize your experience. Outsourcing income tax preparation is a powerful way to supplement your 1040 practice. If you’re considering income tax outsourcing, you’ll find the information you need here.