Growing Your Tax Preparation Business with Professional Tax Software
As a tax professional, you know that your world is ever changing. If you want to keep pace and grow your business, you also know that you can’t stick to manual processing because of the billable time it costs. This is where tax software for professionals comes in. These are basically computer programs that allow you to work with greater efficiency, ease and value for your clients.
Here are the main benefits of using software for tax preparers:
Most software or applications for tax professionals offer a multiple window feature which enables you to view more than one set of data (Input, Prior Year Input, Forms, etc.) in one screen. Forms will also usually be synced with one another, so if you want to, say, view Itemized Deduction, you will also be automatically shown Schedule A and last year’s Itemized Deductions.
Simplified Organization and Fast Data Extraction
Good professional tax software come with a feature that allows you to automatically label and organize your clients’ source documents, which means locating and identifying them in your electronic files will be easier.
You can also instantly transfer data from the processed source documents straight into the software, greatly reducing the need for data entry.
Convenience of eSignature
Professional tax software generally comes with eSignature, which allows you to save time and cash, avoid IRS issues and more. You and your clients can simply enjoy a secure, efficient and highly convenient way of signing tax documents digitally.
Quick and Easy Error Correction
We all know that accuracy of returns is crucial to reducing IRS rejections. Using good professional tax software, you can easily find possible inconsistencies in tax information, check your returns with a list of overriden entries, and find e-filing errors with a direct link to the specific erroneous form. Additionally, these programs usually let you go through a summary of the return easily, including forms for filing, tax refund, balance due, and AGI.
Lastly, if you pick the right tax preparer software, you can have a feature that lets you check out a myriad of tax scenarios for your clients and then save them for reference in the future, add new data or replace existing data in the current return. Efficiency is important for any tax preparation professional as it not only retains old clients but also keeps new ones coming.
As expected, tax preparation software for professionals can vary widely on many fronts, from features to pricing to support and more. Before choosing one, make sure you do your homework. And remember that it’s best to consider more than one prospective software. With options, you have points of reference to decide if a particular solution is indeed the one you need.