Why Outsource Tax Preparation Services to Indiaby Roy Roger B2B Services - Legal, Accounting
The last decade has seen a phenomenal growth in outsourcing tax preparation by accounting firms. A major slice of the pie has come to India because this country offers advantages that are hard to match. But before going into the intricacies of what India has to contribute to the tax preparation outsourcing scenario, it will be pertinent to see why most accounting firms regardless of its size are taking this route.
Tax outsourcing improves productivity and efficiency. It gives firms the flexibility to staff for off-season workload instead of peak-season
What then are the gains of outsourcing tax preparation to India
· Qualified accountants – All outsourced tax preparation firms have highly qualified and experienced professionals well versed in the nuances of tax forms and tax laws in different countries. Cutting edge software is used which not only reduces processing time but also ensures a high level of accuracy.
· Using the latest software – The software used in tax preparation are those that are standard all over the world. These include Intuit’s Lacerte, Creative Solutions’ Ultra-Tax, Intuit’s ProSeries, ATX, Drake Tax, ProSystem FX, Go-System and any other relevant software that has been developed to help complete tax preparation quickly and efficiently. All these are compatible with all forms and accounting procedures prevalent in the outsourcing countries.
· Flexible Tax Preparation Process – There are two systems being followed in India both being highly convenient to the offshore accounting firms.
The first is the remote access based tax return. The source documents are scanned and uploaded to the server in India or faxed, say at the close of business hours. Tax
The second is the server based tax return. The system followed in the first option is similarly followed by a few fine changes. The tax
With all these advantages, it surely makes sense to outsource tax preparation to India.
Created on Dec 31st 1969 19:00. Viewed 0 times.