The tax processing outsourcing business has dramatically changed and expanded beyond the client to tax preparers and now, to back-office outsource processing.
Why do you need to outsource tax preparation?
As mainland tax service costs increase, more and more accountants and companies are opting to outsource tax preparation to help minimize operating costs and maximize efficiency and profits.
To meet this market demand, we at outsource2india provide a customized tax outsourcing service using the best industry tax software like Drakes Lacerte, Turbo Tax, Ultra Tax or any tax software of your choice.
Why choose
CG Finserve to outsource your tax processing?
Our tax outsourcing service methodology provides CPAs and Tax service providers of almost any size with a great new way of handling their tax compliance workload and meeting filing timing deadlines.
This cost-effective solution utilizes ASP/FTP technology, to move source document information from clients to our tax processing facilities in India.
This way, we handle the processing functions of a tax department while you focus on improving your client relationship. We have considerable experience in US tax preparation and reporting. We use top of the line tax software and technology like Drakes Lacerte, Turbo Tax and Ultra Tax, so that the CPA or Tax preparing firm is assured a seamless and secure delivery of work from an outsourced environment.
What tax processing services do we offer?
We offer tax preparation services for the following:
Form 1040 - For individuals,
Form 1065 - For Partnerships
Form 1120 - For companies and Corporations.
We will examine your balance sheets, interpret and classify each item on it. We will also classify and interpret P/L items, and interpret the taxability and treatment of various accounts.
How does this outsourced process work?
1. It starts with sending us scanned documents. We will supply you with our standard format to send the relevant and required data either in the form of pdf files, mdi or e fax messenger.
Once the tax information images are received, trained tax professionals at our offshore processing facility will data enter the information into our tax software or the tax software of your choice.
2. After data entry, the tax return is audited to verify that all the information received has been correctly entered and accounted for.
3. Next, the returns are transmitted using the ASP/FTP to your firm for review. You'll receive complete returns, including any questions or comments the preparer thought necessary.
3. Once you have the return, your firm can review and finalize, plus add or delete any information as is necessary. We can then update the tax file and send you a final copy for filing.
What are the cost benefits of outsourcing tax preparation?
Tax Returns prepared by us will cost up to 60% less than the average tax preparation cost currently incurred by a mainland firm.
This reduction in cost will not only ensure increased profit margins, but will provide a significant marketing advantage for acquiring new clients.
What quality management processes are followed while outsourcing tax preparation?
Quality at CG Finserve is a key virtue as the metrics involved in measuring it are more to do with human capabilities of discerning a given piece of information. Our organization has institutionalized the fabric of QMS in its corporate culture. In the process of advocating a proactive QMS, the following phases are involved:
1. Defining Quality, Quality policy, Quality assurance etc
2. Analyzing/ identifying and defining the attributes which are Critical to quality
3. Defining Defect, opportunity and scenario ( CTQ linked)
4. Laying down the quality initiatives to be taken
5. Description of how the Quality Policy laid down is expected to travel along the process chain.
6. Laying down the reporting requirements of a QMS. (adherence reports, exception reports)
A quantifiable benchmark enables problems to be pinpointed and can assist in identifying ways and means of improving the process. It also encourages adoption of best practices in relationships with customers, suppliers and employees. Processes, products and organizational structure are geared towards ensuring that every delivery to the clients passes through our stringent quality measures.
Advantages of stringent quality measurement processes
* Customers benefit as a result of fewer defects, reduction in turn around time and improved delivery capabilities. These provide value-additions through improvement in the performance of the systems that have been outsourced, a reduction in the problems and failures, and improved stability.
* This results in high levels of customer satisfaction and repeat business from them. Implementing the processes trains both the organization and people to be methodical and process-driven.
* Introduction of best-of-breed industry practices and standards thereby improves delivery capability.
* Focus on quality leads to lower costs and improved efficiency within the organization.
* A well-coordinated workforce management ensures low overheads and quick ramp up of a flexible team size that can meet tight deadlines.
* Periodic training and upgrading of employee skills ensures state-of-the-art solutions as well as employee retention.
|