Tax Preparation Outsourcing 101: The Ultimate Guide for CPA firms

24 junio, 2022 por MASVERBO Dejar una respuesta »

Whether you’re a startup exploring cost-saving measures or an established firm looking to optimize operations, we are your go-to resource for all things outsourcing. OBS specializes in accurate and timely tax return preparation when outsourcing. Our experienced team has delivered top-notch results to 300+ global clients, ensuring meticulous attention to detail and adhering to strict timelines. SurePrep offers a unique partial outsourcing option called 1040SCANverify. Our advanced OCR software extracts data from tax documents like W-2s, 1099s, etc. and our expert staff verify the information.

Our platform manages the database to maintain SOC 2 compliant controls with data security, information policy, and compliance requirements. Additional security features such as anomaly detection safeguard our professionals accounting bachelor degree salary and customers. Taxfyle’s domestic outsourcing service augments your firm and creates real-time, quantitative, actionable insights for each return by combining structured data collection and event streams.

Outsourcing, perfected — powered by real-time data and innovative software.

Some can build capacity quickly, while others fail to increase productivity. Resolve staffing woes, reduce costs and improve your margins by partnering with our pioneer tax outsourcing company. QXAS has been in the tax outsourcing business for several years and has kept in step with changing tax legislation. We also adhere to stringent SLAs and high-quality standards when it comes to data security. Most outsourcing companies price their services based on your requirements and the engagement model. They offer a variety of pricing models to suit your firm’s requirements and budget.

  • With this popular engagement model, you will be given a dedicated staff to work as an extension of your team at a fixed monthly fee.
  • Our services will give you better productivity by freeing your engaged resources.
  • Our onshore facility is located in Irvine, California and our offshore facility is located in Mumbai, India.

Furthermore, all information is stored on centralized servers, eliminating reliance on local servers, and thereby fortifying the security of data by centralizing its storage and access. Our US Tax team is proficient on all major tax software such as Intuit Pro-Series, CCH, Drake, Intuit Lacerte, Turbo Tax, ATX, Ultra Tax and many more. Since 2008, we have helped numerous CPAs smoothly navigate through the challenging tax seasons especially the 2021 season which has been the most difficult and busiest of all. On-demand, U.S.-based accountants to help increase your capacity and expedite your turnaround times. It is, therefore, a huge compliment to the team at Infinity that they are quickly becoming my ‘go-to’ provider.

Why outsource tax preparation to SurePrep?

It is best to analyze each engagement model so you can evaluate and determine which is best for your accounting firms. 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. 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.

Partial outsourced tax preparation services with 1040SCANverify

In an outsourced tax preparation service, a CPA firm hires an external service provider to handle their clients’ tax returns. This can include services such as tax planning, research, and preparation of returns. The goal of outsourcing tax preparation is often to save time and resources and to ensure that the tax returns are prepared accurately and in compliance with all relevant tax laws and regulations.

Picnic Tax Enterprise

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. 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. These terms are in fact outlined in a written contract, and accountants even have to monitor the work of all third parties involved in tax preparation.

Expert staff, experience, and trust

Discuss with your outsourced service provider and analyze the pros and cons of each engagement model before signing on the dotted line. Most outsourced service companies offer free trials to help CPA firms decide what works best for them. A clear benefit of outsourcing tax preparation is that it makes data collection easier.

AUDIT

Thus, we lift your profit margins to the peak and reduces additional expenses. Infinity Globus is a leading global accounting company providing Finance and Accounting (F&A) Outsourcing services to accounting firms based in the UK, USA, Canada and Australia. Receive the tax expertise and capacity needed to support in-house staff during peak season compression by outsourcing high-volume transactional work to our tax preparers.

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