Outsourcing 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, IT Match Online members provide customized tax processing outsourcing services using the best industry tax software.

They offer tax preparation services for Individuals, Partnerships, Companies and Corporations. They will examine your balance sheets, interpret and classify each item on it. They will also classify and interpret P/L items, and interpret the taxability and treatment of various accounts. They will do tax structuring & planning, Tax returns & assessments, Tax consultancy and Withholding tax for you,

There are so many benefits of outsourcing your tax preparation with these service providers, here are just a few:

• Reduce overhead,
• Avoid Capital Expenditure,
• Improve Efficiency,
• Free up resources,
• Offload non-core functions,
• Get access to specialized skills,
• Save on manpower and training costs,
• Reduce operating costs,
• Effectively handle temporary business peaks

The process followed for outsourcing tax preparation is:

1.It starts with sending them scanned documents. They will supply you with their 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 their offshore processing facility will data enter the information into their 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. 

Once you have the return, your firm can review and finalize, plus add or delete any information as is necessary. The service provider can then update the tax file and send you a final copy for filing.