For CPA or accounting firms, providing high quality and precision tax preparation services to their clients during the busy tax season is very crucial. They have to follow multiple rules and tax provisions before drafting tax returns for their clients. Especially, EAs and small CPA firms in the US feel more burden of this season as they don’t have sufficient manpower and resources to accommodate the workload.

So, in this situation, outsourced tax preparation service providers like CapActix come as a saviour for CPA firms. These companies help accounting firms in providing the optimum level of perfect services to their clients without exhausting their internal resources. One CPA firm can gain lots of benefits by outsourcing services during tax season such as –

1. It is a faster and efficient solution rather than vetting each individual applicant, interviewing and offering perks.
2. Instead of managing multiple salary sheets, you just need to pay a lump sum amount to the offshore tax preparation company.
3. This will increase the speed, capacity, and efficiency of the CPA Company.
4. It is a stable solution and won’t impact the regular working of the company.
5. Offshore tax team can serve the purpose of your own team and assist you whenever and wherever you want.

The process to Hire Offshore Tax Team for CPA Tax Preparation

It is a perfect solution for small and medium CPA firms to use outsourced tax preparation services during the over busy tax season. However, if you haven’t ever appointed an offshore team during tax season, then you must have gazillion questions surfing in your mind like how to hire a good team, where to find a trusted offshore team and much more. So, to answer all your bubbling questions, we have created a list of a few steps that will help you in acquiring the services of top-notch offshore tax preparation services for your firm.

Step 1. Check Referrals

Today, we live in a digital world where everything is powered by the internet. So, when you are planning to hire an offshore team from another hemisphere, then you can leverage from the internet and check out online reviews of the company. The past experiences shared by other clients will give you a rough idea regarding – performance, consistency and work quality.

Apart from online referrals, you should contact your friends and business associates and ask for references. It is a good practice to get some assurance before trusting a remotely located team with your important tax firm.

Step 2. Familiarity with the US Tax Rules

One of the next major things that you need to put in your offshore team hiring checklist would be – the familiarity of the offshore tax preparation company with the US tax laws. Suppose if you are outsourcing services from India, then you might see that Indian tax preparation rules and the US rules are different from one another. The tax deduction, tax slab, and other basic tax calculation rules are entirely separate.

So, you need to make sure that the outsourced tax team is familiar with the US tax preparing and accounting rules. The company must have staff who is familiar with all the latest tax news and happenings in the US. You can’t hire a company that does not know the latest US tax system, period.

Step 3. Go Through Basic Infrastructure

Once you have tested the knowledge of the company’s staff, then you need to make sure that the outsourced company has the basic infrastructure to pull off your project on time. One top class offshore tax preparation company must have the following basic infrastructure –

• Hands-on all the latest and trendy tax preparation accounting software.
• High-quality security standards for both – internal and external. For internal security company must have CCTVs, security guards, etc., however, for external security – antivirus programs, encrypted systems, and SSL security needs to be incorporated.
• The company needs to provide all the latest gadgets and high-speed internet connection to their employees.

Step 4. Schedule Regular Meetings

Your offshore team needs the same guidance as your in house team to meet the company’s goal. It is very important to establish a free communication channel with your offshore staff so that you can keep up with their work status. You need to schedule regular meetings with your offshore and in house team where they can come together and brainstorm to improve the efficiency of your company during tax season.

When your remote tax team is located in a different time zone, then it is essential to schedule the meetings in advance where all the members of the team can come at the same time. Today, there are multiple mediums available to conduct meetings with offshore teams like video conferencing, instant chats, traditional audio calls and much more.

Step 5. Don’t Under Estimate Interview Process

In the outsourcing, your tax preparation team might not present in the same physical approximate as you, but you should not ignore the interview process. You always need to remember that you are using third party service so you have to be double sure as it’s a matter of your reputation.

Thus, you should design different stages of the interview to shortlist the perfect outsourced tax company. You need to at least design three stages of the interview – first email interview, second telephonic interview, and third video interview. The company that excels in all three rounds need to be selected to do the job.

Ending Words

Tax preparation services are one of the important services offered by a CPA firm as lots of legal compliances are related to it. So, the process of hiring a good outsourced tax preparation company needs to be done with the utmost care after evaluating all the pressing factors. The steps discussed in this post are dead important, but you can include other points as per your requirements also.

Now, if you are observing various outsource tax preparation services, then you can give a call or send e-mail to CapActix as well on email - biz@capactix.com or can call on +1 201-778-0509 and someone from our team will surely get back to you asap.

Author's Bio: 

Aniket is working in Capactix Business Solutions – An Accounting Outsourcing Company – as manager. He is an expert in tax preparations for the USA. He also has experience in virtual bookkeeping for CPA firms.