outsourced tax preparation
Services for CPA firms, authorized tax agents, and SMEs in Outsourced Tax Preparation
We provide CPAs, EAs, Accounting, and Tax Firms around the USA with top-notch outsourced tax preparation services. By maintaining your accounts, records, reports, and more in accordance with the taxation legislation and compliances, our tax preparation outsourcing services may assist you in managing the compressed tax season. To fulfil your specific requirement for accounting and taxation resources, we offer year-round and year-end tax preparation services. Our highly skilled tax preparers assist you in receiving substantial tax benefits without exceeding your budget. With the help of our CPA tax preparation services, we can reduce the complexity and resources that would otherwise be used to match tax information and prepare returns for customers. Therefore, outsourcing tax preparation to India enables both individual businesses to capitalise on the advantages of correct tax processing and CPA firms to concentrate on onboarding more revenue-generating clients and offering them value-added services.
Why Use Outsourced Services for Tax Preparation?
We are an expanded staff of outside tax preparers for you. With an 80% cheaper investment and a 150% faster turnaround time, we simplify the complicated task of tax calculation, preparation, and filing for you. With ease and expert services, our tax preparation outsourcing services help to reduce personnel shortages and tax season stress.
Our Outsourcing CPA Tax Preparation Process
We begin by requesting all relevant data from the customer via a secure file-sharing interface, including pertinent documents, financial statements, and tax organisers for the current tax year. When we receive information, we first verify its accuracy by comparing it to the prior year's return (if applicable) and noting any carrying forward balances. We review and double-check the balance sheet, profit & loss statement, and other pertinent data received from the client for the 3C's, or correctness, consistency, and completeness, before entering the data into the tax preparation software so that any apparent mismatch can be identified and fixed before beginning the return preparation process.
Our Outsourcing CPA Tax Preparation Process
We begin by requesting all relevant data from the customer via a secure file-sharing interface, including pertinent documents, financial statements, and tax organisers for the current tax year. When we receive information, we first verify its accuracy by comparing it to the prior year's return (if applicable) and noting any carrying forward balances. We review and double-check the balance sheet, profit & loss statement, and other pertinent data received from the client for the 3C's, or correctness, consistency, and completeness, before entering the data into the tax preparation software so that any apparent mismatch can be identified and fixed before beginning the return preparation process.
After confirming the accuracy of the information provided, we log into the client's system and tax software and treat all items, such as deductions, credits, carryover balances, and other items, in the tax preparation programme. Finally, we provide clients PDF files of their tax returns and computations for their inspection along with our observations, questions, and comments. We make any necessary modifications after getting approval from the client, after which the return is filed.
The following is part of our CPA tax preparation outsourcing process:
DOCUMENT RECEIPT
We detect the missing data once we receive the tax organizer, source documents, and financial statements.
3C's Verification
Examine written materials for the three Cs: Correctness, Consistency, and Completeness.
TAX PREPAREANCE
We input data into the client's tax software in compliance with the tax laws.
Examine and submit the sheet of balances
The accuracy and authenticity of the return are examined before the client approves the PDFs.
VERIFICATION AND COMPLETION
Upon confirmation from the client, submit the return to the appropriate revenue authority.
For the following, we offer CPA tax preparation outsourcing services:
Forms 1040, 1040NR, 1040A, and 1040EZ are available for individuals.
Joint Venture: Form 1065
Forms 1120, 1120A, and 1120S for corporations (for statutory corporations)
Form 990 for NGOs; Form 1041 for fiduciaries
BnC uses a variety of professional tax software
Intuit's QuickBooks accounting programme, Intuit's Pro-Series, Intuit's Lacerte, Drake, Creative Solutions' Ultra-Tax, Turbo Tax, ATX, and ProSystem fx ® Suite - CCH.
FAQs about CPA tax preparation outsourcing
Many questions pop into our heads whenever we consider assigning someone else our duties. We made an effort to address some of the frequent queries that CPA Partners and Accounting Firms working with us sent to us;