Outsourcing Tax Preparation Services for CPA Firms & Tax Professionals
From the ground up, our network of tax accountants is entirely composed of licensed CPAs and EAs. These Pros have the experience and capability to facilitate any scope of work and can use the same software as your firm. When you outsource with us, your firm can breathe a sigh of relief during tax season.
Designed for Fintechs, Accounting and Wealth Management Firms
In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the „Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Our onshore facility is located in Irvine, California and our offshore facility is located in Mumbai, India. Both locations are owned by SurePrep and staffed by SurePrep employees who adhere to the same training requirements and strict security protocols. Whether you choose onshore or offshore, you’ll enjoy the same turnaround time and high accuracy. While nerve wracking at first because it is the unknown, outsourcing tax services overseas can provide your accounting firm with wonderful opportunities with the right relationship.
Cost Efficiency
Our online accounting services for small businesses also allow you to collaborate with us virtually on your schedule. You can eliminate commute time, meet when it’s most convenient, and still get valuable face time with your accountant or bookkeeper. Plus, our cloud-based services give you access to the most updated information we have, whenever you need it. Whether you’re at your desk or away from the office, your financial statements are only a click away.
- The main goal of tax preparation outsourcing is to get the work done on time without compromising on quality.
- This will result in significant cost savings in the tax season and boost profitability.
- SurePrep’s outsourced preparation service includes our award-winning workpaper system, SPbinder.
- What are the credentials of the accountants and bookkeepers at the firm you’re considering?
Tax outsourcing and other operating model transformations: One size does not fit all
Outsourcing tax preparation can help minimize the chances of audits, penalties, or legal issues resulting from incorrect filings. Firms that provide additional services like retirement and financial planning have always collected 7216 signatures. SurePrep has processed hundreds of thousands of outsourced returns since the 7216 language change in 2014, and our clients have reported little effect. Most firms send the 7216 consent form along with the Engagement Letter and receive a signature without issue. Discuss with your outsourced service provider and analyze the pros and cons of each engagement model before signing on the dotted line.
Choose The Best Outsourced Accounting Service Provider
The best bookkeeping services handle your target tasks without breaking your business’s budget, integrate with your accounting software and offer a dedicated line of communication with a live bookkeeper. In addition, consider the availability of add-on services like tax planning, payroll and human resources support. Outsourcing your accounting and tax preparation services can provide your business with ample benefits, from access to experts, increased flexibility, cost and time savings, and more reliable finances.
Outsourcing and co-sourcing tax services give you a scalable tax function flexible to your needs
The main goal of tax preparation outsourcing is to get the work done on time without compromising on quality. Outsourcing gives you the advantage of high-quality work from trained and experienced professionals alongside ensuring compliance and data security. Let’s explore the scope of tax return outsourcing for accounting firms in the USA and understand the service in detail. QX Accounting Services has been in the business of tax outsourcing for many years and kept in step with changing US tax legislation. Having worked successfully with clients with different tax preparation requirements, we understand our way around even the most complex tax preparation needs. It’s time your accounting firm has access to relief from stress and bottlenecks during the busy season.
Our staff uses the same tax software as your firm, so you can jump right into review as if your own staff prepared the return. When comparing services, ensure you’re pricing out all the features https://www.adprun.net/ you need, including add-on services like tax prep, payroll and HR. If you’re considering a bookkeeping service that runs on QuickBooks or Xero, include the cost of that software, too.
Every year, CPAs and accounting firms receive hundreds of tax returns to be prepared and filed before it is due. Apart from taking up a lot of time and effort, tax preparation also leads to severe burnout for accountants and takes a toll on their mental health. Sadly, they cannot also turn down such requests as it could affect their business and revenue. https://www.online-accounting.net/kpmg-spark-review-and-ratings/ SurePrep offers both onshore and offshore outsourced tax preparations services. Our preparers in California and India are SurePrep employees who undergo the same rigorous training. Both onshore and offshore offices follow strict security protocols, including monitored premises, locked terminals, no-cellphone policies, and employee background checks.
Rather than just a few chosen tasks, outsourcing accounting enables you to offer bundled service offerings. When you outsource your tax preparation, you relinquish a certain level of control over the process. You rely on an external service provider to handle sensitive financial information and make accurate tax calculations.
Some services also support Xero, another popular cloud-based accounting software. If you’re comfortable with your current software, ensure your bookkeeping service supports it. Once you’ve decided you want to outsource tax preparation and accounting services for your business, these are the factors to look at as you consider the best accountant and bookkeeper for your needs. We are well-versed with the expense definition regulations, forms, and instructions needed to provide top-notch outsourced tax return preparation services. Tax preparation services may be offered by certified public accountants (CPAs), tax attorneys, enrolled agents, or other professionals with expertise in tax matters. They may also be provided by specialized companies or software programs designed specifically for tax preparation purposes.
Top accounting firms have already taken the outsourcing path, and we need to accept the necessity of shifting all mundane tasks to the safe hands of offshore tax preparers. Yes, QXAS’ outsourced tax prep expert team possesses the expertise required for meticulous tax return preparation, encompassing the complexities of international tax issues. They stay current with global tax regulations and are adept at navigating cross-border tax regulations, to ensure precision and compliance in every aspect of tax return processing. We provide innovative procedures to assist CPAs in managing tax compliance and meeting crucial tax filing deadlines. Our meticulous approach includes a thorough evaluation of client balance sheets and the classification of each component, including profit and loss items.
Everything from fees charged to non-billable hours all count when time is limited. Determine which returns and services can generate the most profit in-house, and consider outsourcing other tax prep work so that you can focus on those activities. One significant difference between offshore and onshore outsourcing is consent. Section 7216 mandates that taxpayers give consent before their 1040 tax information is disclosed to a third party outside of the United States. In 2014, new Section 7216 language went into effect that required more explicit disclosure.