We’re the go-to Tax Preparers that knows all the nitty-gritty of US tax rules and stays up-to-date with IRS changes. Our pros excel at sorting out individual and business taxes, no matter how complex. Most outsourcing vendors have full preparation as their only level of service, but select vendors offer partial outsourcing for OCR data verification only. 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.

• From keeping track of the changing tax regulations and connecting with clients to assembling the necessary forms and heaves of paperwork, accountants are constantly on their toes.
• SurePrep was founded as a tax preparation outsourcing service provider in 2002.
• In the rare case that a client raises an objection, that client’s return can simply be processed in our onshore facility.
• The very same quick turnaround speed that makes outsourcing attractive also makes it liable to security concerns.

It is best to find out the number of clients they have helped scale and the number of years of operation. The more experienced an outsourcing partner is, the better choice they would be compared to the rest. Outsourcing is a handy tool for businesses looking to cut costs while improving their efficiency.

COMMON MISCONCEPTIONS ABOUT OUTSOURCED TAX PREPARATION SERVICES

On the other hand, you’ll want to make sure you are not charging more than the market will bear. Our team creates all conditions to eliminate barriers arising in the course of business development or reorganization. A wide range of services allows us to offer complex solutions for business and cover most of the needs of accounting, reporting and IT solutions for clients. In-practice accountants also have to spend time in administrative work for setting up new clients, including client training and setting up account-indexing documents. Outsourcing gradually reduces the amount of work spent on these administrative tasks, which ultimately results in lesser costs and higher operational efficiency.

• Tax preparation outsourcing with Picnic Tax Enterprise helps you grow your business while enhancing your reputation and brand.
• The offshore team can do this easily, given that they have a designated team of tax preparers and experts who read up on the law and legislation.
• On November 5, 2021, the process of acquisition by EBS of the Rearden Group business process automation was completed, after which the company became part of EBS.
• With experienced offshore tax preparers handling preparation and first-level reviews, your in-house team can perform higher-value advisory services.
• Moreover, we have a highly advanced infrastructure to support these technologies.

With experienced offshore tax preparers handling preparation and first-level reviews, your in-house team can perform higher-value advisory services. Tax preparers don’t just prepare, calculate, and file income tax returns on behalf of businesses and individuals but are also expected to deliver beyond these core tasks. Outsourcing your company’s tax return preparation to QX is a straightforward process. Start by visiting the tax outsourcing services section at qxaccounting.com/usa. Here, you can quickly get in touch with a QX expert using the contact information available. They’ll walk you through each step, ensuring your tax preparation needs are seamlessly transitioned and managed by QX’s team of professionals.

This common misconception about outsourced tax preparation services prevents CPA firms from reaping some amazing benefits. Outsourcing service companies will only charge you for the services they provide, and you will save up to 50% or more on operational costs. Data security and communication barriers are the most common concerns that accounting firms have. But this shouldn’t be a disadvantage if you choose the right outsourcing service provider. When you outsource to a company like QX, comprehensive data security measures will be ensured, and you will also have access to high-quality talent with excellent communication skills. The best outsourcing providers prioritize staying on top of the always-changing legislation and tax law.

The Ultimate Guide to Outsourcing Tax Preparation

Tax return season is often exhausting for employees of accounting firms and CPA firms which can lead to reduced efficiency and productivity. When you hire an outsourced tax firm, this concern can be completely eliminated. Tax preparation outsourcing can give CPA firms a massive advantage in staying ahead of their competitors. The first step is to ask yourself why you need to outsource and what you seek to achieve via outsourcing. Every year, CPAs and accounting firms receive hundreds of tax returns to be prepared and filed before it is due.

QXAS has built solid expertise in US tax legislation and keeps up to speed with all the changes. When building your outsourcing strategy, you should prioritize the skills you are looking for and why. Clearly defining the expertise you need to add makes it easier to choose an outsourcing engagement model that matches your specific staffing needs. You have a wide range of outsourcing models to choose from, including those based on locations (onshore, nearshore, offshore, and onsite) and pricing. Our onshore facility is located in Irvine, California and our offshore facility is located in Mumbai, India.

SurePrep Outsource

If you don’t mind the wait, the lower price point for tax assistance is a good option. Outsourcing accounting and bookkeeping services has its own share of profits and concerns, but it is completely up to accountants to decide whether they find the practice safe enough to adopt or not. With technology advancements and even government mandates, most outsourcing companies, these days, are following strict regulations to ensure data protection and confidentiality. However, it cannot be denied that many in-practice accountants have found their success in outsourcing. When you hire Meru Accounting, a remote seasonal tax preparer, you get the flexibility to scale up or scale down our services as per your requirements.

What you get with Outsource

It is important to note that only 48% of survey respondents were willing to provide their average hourly rate. Based on the data available, however, it appears as though we gave ourselves a raise since the last survey was done in 2019. The standard average hourly rates increased by 8.6% from $69 (2019) to $75 (2021).

Finding qualified staff can be difficult — outsourcing tax preparation to an experienced team with a quick turnaround time helps you prepare more returns without hiring additional team members. However, not every CPA firm deciding to take the outsourcing path knows all the benefits of outsourced tax preparation services. Be it as an individual or as an accounting firm, filing taxes can be a demanding task. Not all accounting firms have the capacity or skill set to handle the mountains of tasks coming their way during the year’s busiest period.

Its $54.95 Premium package gives you access to tax professionals for difficult tax questions, live chat for tech support, and unlimited assistance. To compare, TurboTax’s Live Assisted packages start at $99 and H&R Block’s Basic Online Assist package starts at $70. We are a dynamic firm, much like a tax preparer remote, and we love to stay updated with every latest technology that comes in the field of accounting and finance. Moreover, we have a highly advanced infrastructure to support these technologies. So, you don’t have to incur heavy costs on upgrading the infrastructures and resources in-house. Several years ago, as head of tax for the asset management division of a large organization, I was faced with challenges that are familiar to most tax leaders.

Accountants place tax documents (in the form of pdf files) in a shared network folder. These scanned documents are then uploaded by an outsourced bookkeeping service provider through a data center. Finally, offshore workers download these documents, prepare the tax returns, and send the documents back electronically to the accountants, who can then review them for accuracy. Today, payroll fraud accounting firms and CPA firms in the USA need to devote their time and resources to their core business activities. 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.

You can save up to 60% of your cost by outsourcing tax return preparation to India. The exchange rate difference results in a substantial reduction in the cost of getting the work done while also maintaining the quality. Besides, the cost of hiring a tax expert is significantly less in India compared to other countries.

US Tax Return Services

Cost management is the primary reason many accountants are opting to outsource tax preparation tasks and accounting and bookkeeping services. 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. As opposed to what most people think, outsourcing is, in fact, a very simple process that doesn’t include a lot of hassles or complications.