Here’s a quick way to get rid of your January tax rush

Here’s a quick way to get rid of your January tax rush

Posted by  on 15 January, 2016  5 minute read

It is tax season and once again that time of the year when accountants focus on preparation of tax returns. But the biggest question is whether the accounting firm should stretch the off season staff to balance the peak period work or is it sensible to outsource the tax preparation work while they concentrate on revenue generating jobs. Outsourcing does not just give the option of focusing on clients but also has cost benefits.

Why think of outsourcing during the busy period?
You can choose to outsource during the busy period and save the cost of hiring seasonal labor and even if you have enough staff to handle the busy season you might want to reconsider if you are making full use of them the rest of the year.

There are chances that most accounting firms turn down new work during busy season and this could turn away a profitable client to a competitor next door. Outsourcing can help you accommodate new jobs coming in the peak period which in turn will increase your profitability and credibility in the market.

Outsourcing the mundane job will help you save the most complex job which can be a good exercise for the less experienced staff and they can have a firsthand experience of working on complex documents. As an employer this is a good way of grooming your staff and you could find yourself on a preferred employer list for employees.

Often it is noted that firms are convinced that outsourcing during peak period benefits them but they do not do anything about it due to security concerns. If they look a little deeper they may notice that outsourcing firms have better and more secure firewalls than those of many US firms, including, often, themselves.

There is invariably a cost benefit when outsourcing and the CPA has a decision to make – pass on the saving to their client or absorb the difference themselves. But the reality is, the tax return isn’t just the physical work, you also provide advisory services and therefore there should be a charge for the added value you provide. And clients are looking for more than just the tax return so your freed up time can be spent delivering them a better service.

About QXAS Inc outsourcing
QXAS Inc provides highly specialized accounting and tax preparation services and we have a team of experts who continuously update themselves on the changing tax laws.

We offer the following services:
• Accounts tagged and produced from incomplete records
• 1099 forms
• Draft accounts for review
• Final accounts for signature
• Full set of accounts and tax computation
• Accounts ready for partner-level review

You can bring us in to help when you need us – no long term commitment, no financial tie-in – just a perfect solution to your short-term workload status. To discuss call 1 800 310 9312 or email contact@qxas.us.com