We offer easily scalable services that are optimized to manage multiple projects simultaneously. “Cristopher Carmona, CPA, speaks about his bookkeeping outsourcing experience with QXAS. He emphasizes on how efficiently the team set up everything remotely and executed all functions, without any hiccups.” V    Partners say having to manage the outsourcing process makes it more expensive.

Both onshore and offshore offices follow strict security protocols, including monitored premises, locked terminals, no-cellphone policies, and employee background checks. Our preparers use CCH Axcess™ Tax, GoSystem Tax RS, Lacerte, UltraTax CS, and Virtual UltraTax CS. SurePrep’s outsourced preparation service includes our award-winning workpaper system, SPbinder. SPbinder’s sign-offs, cross-references, annotation tools, and leadsheets allow you to review your tax workpapers in a completely paperless environment. It’s a common misconception that all tax outsourcing services are performed outside the United States and that firms only outsource for the offshore cost benefits. The reality is that some 1040 outsourcing services are performed onshore, others are offshore, and some vendors offer both options.

On average, prepared tax returns with review notes are returned within 12—36 hours of submission. And it’s not necessary to change existing processes — Xpitax will follow your firm’s existing processes and uses the same tax prep software you’re using today. Finding qualified staff can be difficult—and training new hires while tax season ramps up is even more inconvenient. Outsourcing tax preparation to an experienced team with quick turnaround time helps you prepare more returns without hiring additional team members.

Start stabilizing staff bandwidth today

Utilize Xpitax and stop worrying about seasonal staff; hire, train, and retain experienced tax staff and managers as W2 employees who support your firms goals and priorities. Various the difference in notes payable vs long parameters are used to identify the cost of a project, like the volume of work, etc. We work with clients to determine the correct pricing structure to fit their budgetary needs.

• Looking at the broader picture, the outsourcing industry is being reshaped by a collective push for cost reduction, technological innovation, and a relentless pursuit of expert services.
• The main advantage is that you will have access to a higher level of expertise.
• You must know the advantages and disadvantages of outsourcing tax preparation services to make an informed decision.
• Therefore, if your firm is contemplating outsourcing, reach out as soon as possible.
• The first step is for OBS staff to login remotely into the tax software that our client is using through a secure encrypted link.

We have been helping CPAs, accountants, and EAs manage the tax preparation needs of their clients for almost a decade. QXAS has built solid expertise in US tax legislation and keeps up to speed with all the changes. 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. To learn how to make the most of the year ahead and all the ways advisory services can transform how you serve your clients, check out our 2023 year-end tax strategy planning webcast. If you’re interested in expanding into advisory services, learn more about Practice Forward to strengthen your client relationships today. By rapidly processing extensive datasets, AI performs swift analysis techniques like predictive analytics and anomaly detection.

Since it’s not in your best interest to turn clients down, this is the point when you should seek accounting outsourcing. 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. Their personalized approach, attention to detail, proactive tax planning have not only saved us money but also freed up our time to focus on growing our business.

Bestarion Is Your Ideal Tax Outsourcing Service Provider.

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. Like every option businesses have, analyzing and researching before partnering with an outsourcing company is essential. Here, we have covered some important advantages and disadvantages of outsourcing tax preparation services to help you make an informed decision.

It’s standard best practice to verify OCR data for accuracy after scanning tax documents. Compared to data entry, OCR verification takes a fraction of the time, but it still pulls preparers away from value-added work. It’s an economical option for firms that need a middle ground between full outsourcing and in-house services. With technology capable of handling the mundane, today’s accounting firms are embracing a profitable shift toward advisory services. Obtain references and continue investigating until you have identified the ideal outsourcing partner to handle your company’s tax preparation needs.

Tax planning strategies to start the new year with

With us, you can stay on top of the tax season, knowing your clients’ taxes will be prepared by the best professionals with the right tools that meet the highest data security standards. Any mistakes concerning tax filing can have devastating consequences for your accounting firm. Not only will errors and mistakes in tax preparation lead to a substantial financial loss, but they will also take a toll on your firm’s reputation.

Estate planning

Some firms worry that clients, knowing that outsourcing is done to save money, may demand lower prices for their returns. With us, busy tax seasons are a breeze as we seamlessly manage the background work, allowing you to channel your energy into fostering business growth. We adhere to stringent quality checks, utilize advanced software, and keep abreast of the latest tax regulations to ensure precise, high-quality work for every client. Once the tax return is prepared, it is reviewed by the Quality team, and then the finalized return is sent to the onshore team. The first step is for OBS staff to login remotely into the tax software that our client is using through a secure encrypted link.

What is the difference between offshore and onshore outsourcing?

Don’t be shy about embracing the use of temporary staffing solutions to alleviate the challenges posed by a demanding labor market. To learn more about solutions that support Firm Management visit the links below. At the operational level, our strict “no paper, no pen” policy and prohibition of cell phones and USB cables on the floor prevent any unauthorized documentation or data transfer. Access to our premises is exclusively through biometric authentication, ensuring restricted entry to authorized personnel only. They vary in experience and specialty, but on average, they have approximately 12 years of experience.

Grow your accounting firm with Practice Forward

As an accounting firm, we’ve partnered with Outsource Business solutions for clients’ tax preparation needs, and they’ve consistently delivered exceptional results. Outsourcing is a handy tool for businesses looking to cut costs while improving their efficiency. Tax preparation services can give your accounting firm an upper hand during the busiest and most exhausting period of the year.