Accounting Software: Choosing The Best Solution To Survive Tax Season
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Today’s busy tax professionals now rely on tax compliance systems rather than manually sifting through the latest laws, or laws that are no longer relevant to their clients’ businesses. They rely on software programs that help them accurately incorporate compliance standings in clients’ tax forms.
Why Do You Need A Tax Compliance System?
Here are some examples for you:
Did you know that the Internal Revenue service decreased the standard mileage reimbursement rate from 54 cents down to 53.5 cents? I know… it’s not a huge change, but as a tax professional you need to know about this.
Plus, in just the past year there have been some dramatic changes to the tax code. One of these is the reduction of federal tax brackets from seven down to three. This is a major change.
Then there’s the cap on itemized deductions and a doubling of standard deductions.
Without Tax Compliance software, it’s very difficult to keep up with all the changes. Unless you have the necessary tools, you can’t serve your clients as you should.
What Does Our Tax Compliance Software Provide?
Our tax compliance software provides you with applications that help you stay on top of any changes to the tax code. It will also simplify tax form preparation and help you more easily share completed returns and documents with your clients.
You can use a traditional desktop/network installation or the cloud-based version so you can check the status of returns using a mobile device.
You’ll Benefit From These Features:
It comes with a fully customizable user interface screen that provides access to all of your client engagements, status and pending activities.
You can easily navigate your data entry fields following the format of the form that you’re using.
Calculations are performed automatically, with navigational panels that will guide you through the entire data entry process.
Our Tax Compliant system supports thousands of forms and schedules such as 1040, 1041, 1065, 1120, 1120s, 990, and 5500 as well as state forms, and relevant estate and gift tax returns.
You can use its e-filing capabilities for all of your federal and state forms. And there’s an automated notification system that sends you an email when the IRS accepts the returns.
You’ll Benefit From A Paperless Workflow Solution & Storage
Our system offers additional paperless workflow solutions with electronic document management capabilities and storage for all types of documents for future access. All of your files are stored in a single, searchable database with version control to ensure you always use the more recent version of a document.
Is It Secure?
Our system offers a secure way to both access and provides access to client tax returns and other confidential data. You can send returns and related files electronically and securely to your clients for their review.
Does It Support Different File Types?
Our Tax Compliant software supports a variety of file types and sizes. Plus, it provides extensive search capabilities, where you can search for documents using file type, title, creator or keyword search terms.
What About Its Scanning Capabilities?
You can quickly scan large quantities of source documents, and the software will automatically identify each document to determine what it is. Then it will organize your scanned documents into a single, bookmarked PDF document that you can quickly access. Better yet, it can extract data from both 1040 and 1041 source documents and import it directly into the client’s tax return.
Does It Integrate With Other Applications?
Our Tax Compliance Software seamlessly integrates with other software solutions that you use for a completely integrated system that offers tax planning, tax preparation, practice management, document management, and even tax research capabilities.
It’s a comprehensive diagnostic system that automatically tests all data input and forms for omissions and errors, so you can easily return to the specified error/omission to correct the errors.
It also offers comprehensive help functionality throughout, so you can easily access line and form-specific help directly from the data entry screens. Both telephone and chat support are available.
You’ll also have access to additional research capabilities and a multitude of online resources such as a searchable knowledgebase, FAQs, various user guides, a user forum, and access to various training options.
As you can see, this a comprehensive program designed to provide you with excellent tax preparation and regulatory compliance capabilities, seamless integration, reduced need for paper and increased productivity.
How Can We Learn More About Tier One’s Tax Compliance Software?
Contact Tier One Technology Partners, and we’ll provide a complimentary demonstration for you and your staff. We’ll help you improve your clients’ compliance standing along with your tax preparation capabilities.
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