5 Reasons Why Outsourcing Tax Preparation Will Be the New Normal

1

• 5 Reasons Why Outsourcing Tax Preparation Will Be
  the New Normal

biz_at_capactix.com www.capactix.com 1
201-778-0509
2

• In todays competitive world, many businesses are
  operating on a tight budget. For this purpose,
  hiring a virtual tax preparer makes all the sense
  for businesses. Businesses can benefit
  from outsourcing tax return preparation in a
  number of ways.
• Here are the top five reasons why outsourcing tax
  preparation will be the new normal, even in the
  post-pandemic world.

3

• You will save time
• Outsourcing tax preparation and accounting tasks
  saves businesses time and effort. In-house
  accountants spend significant time verifying data
  and collaborating with top management. By using
  outsourced services, businesses can focus on
  essential areas like product development, sales,
  and marketing, while virtual tax preparers handle
  the platform. This streamlines the accounting
  process, freeing up in-house accountants to
  handle other critical tasks and drive business
  growth.

2. Cut costs Outsourcing tax return preparation
is a cost-effective choice, enhancing your
company's ROI ( Return on Investment ). Hiring
inexperienced staff may seem cheaper initially,
but it leads to increased training efforts and
software expenses. In contrast, a certified
virtual tax preparer from a reputable firm saves
on recruitment and training costs. This approach
can cut expenses by up to 70, ensuring efficient
tax preparation and meeting accounting
requirements effectively.
4

• 3. Risk reduction
• Outsourcing tax preparation services to a
  professional company ensures compliance with
  local, state, and federal tax policies,
  minimizing the risk of fines and penalties. It
  also helps identify financial loopholes, ensuring
  transparency and accuracy in journal entries.
  Moreover, outsourcing can mitigate the risk of
  internal employee fraud, making it a valuable
  choice for small and mid-sized businesses.

4. No stress or tension about accounting and tax
preparation Most business owners are unaware of
the tax rate applicable to the goods sold or
services offered by them. If you find numbers and
figures overwhelming and difficult to handle,
dont take stress or additional load. The tax
preparation and return filing process is not a
cakewalk, especially, if you dont have knowledge
of the latest accounting standards, tax laws,
rules, and regulations. Hiring a virtual tax
preparer will ensure complete peace of mind
regarding compliance and correctly estimated
taxes.
5
5. Top-notch security With the rise in the
number of cases of data theft and cyber phishing,
securing key financial information and data for
your company is vital. Cybersecurity threats are
increasing like anything. Choosing an accounting
partner offering outsourced tax preparation
services will ensure that all your valuable
financial data is secure over the cloud using
cutting-edge and robust security. A majority of
CPA and accounting firms can help in
consolidating security. They also know about IRS
security standards. They can help you keep your
data protected with a safeguarded network,
encryption, etc. Read this article to learn
about  IRS standards and how CPA firms set robust
cybersecurity measures according to IRS
standards. A professional virtual tax
preparer from the best accounting firms uses the
latest versions of all tax and accountancy
software, having the latest security and
encryption mechanisms in place. If you are
looking to keep your tax information safe and
secure, outsourcing to professionals using highly
secured systems for tax returns is essential.
6
Frequently Asked Questions (FAQs)
Q1 What are the five reasons why outsourcing tax
preparation will be the new normal? 
The five reasons why outsourcing tax
preparation will be the new normal are 
Cost-effectiveness Outsourcing tax preparation
allows businesses and individuals to save money
by eliminating the need for in-house tax
professionals and reducing overhead costs. 
Expertise and accuracy Professional tax
outsourcing firms have specialized knowledge and
experience in tax regulations and laws, ensuring
accurate and compliant tax returns.  Time
savings By outsourcing tax preparation,
individuals and businesses can free up valuable
time to focus on core operations and strategic
activities rather than getting caught up in
complex tax processes.  Scalability and
flexibility Outsourcing tax preparation provides
the flexibility to scale up or down as per the
changing needs of a business or individual
without the hassle of hiring or laying off
employees. 
7
Q2 Will outsourcing tax preparation compromise
the accuracy of my tax returns?  Outsourcing tax
preparation does not compromise the accuracy of
your tax returns. Reputable tax outsourcing firms
employ qualified and experienced professionals
who specialize in tax regulations. They stay
updated with the latest tax laws, ensuring
accurate and compliant tax returns.  Q3 Can
outsourcing tax preparation help me save
time?  Yes, outsourcing tax preparation can save
you significant time. By entrusting your
tax-related tasks to professionals, you free up
time to focus on other important aspects of your
business or personal life. Tax outsourcing firms
have streamlined processes and expertise,
allowing them to handle tax preparation
efficiently, saving you valuable time.
8

Conclusion
Running a business is challenging, and handling
tasks like bookkeeping, tax preparation, and
payroll without expert help can be overwhelming.
Although an in-house team may be competent,
outsourcing tax preparation services offer a
seamless and cost-effective solution. It
eliminates the need to hire and manage in-house
tax preparers, reducing expenses. By partnering
with a certified company, businesses can ensure a
hassle-free experience, greater scalability, and
essential accounting and tax assistance while
operating within a limited budget. Are you
interested in exploring more about the benefits
of a virtual tax preparer, you can take advantage
of the top CPA and accounting firms. CapActix can
help you with the best accounting and outsourced
tax preparation services, and you can also hire a
virtual tax preparer from this company. It is the
most versatile CPA firm that has an experienced
team of accountants that can help you boost your
ROI with its efficient and accurate services. To
know more about the expertise of the company and
its experience in outsourcing tax return
preparation services, initiate a discussion by
contacting the team. Contact us at 1
201-778-0509 or reach out at biz_at_capactix.com.
9
Thank You
biz_at_capactix.com www.capactix.com 1
201-778-0509