Tax Preparation Outsourcing Partner for Certified Public Accounting Firms in the USA
Are you looking for a reliable tax preparation outsourcing partner for your Public Accounting Firm in the USA?
Are you looking for ways to augment your productivity, improve data accuracy and at the same time, curtail your costs? Scores of Certified Public Accounting Firms in the USA are benefiting from our exemplary outsourcing services. We can help you address your profitability and scalability challenges and help you take your accounting firm to an entirely new level.
Once you decide to partner with us, we can help you improve quality, meet deadlines, minimize errors and omissions, provide aggressive packages to your clients, overcome talent shortage, and lower the overheads.
We provide a wide range of accounting, bookkeeping, tax return preparation outsourcing in the USA and other related services to our American CPA partners, to their extreme satisfaction.
The overall services that we provide to our US-based CPA partners include
Bookkeeping allows you to track the financial position of your business and also helps you with regulatory compliance. Building and maintaining bookkeeping and accounting records can be a tedious, time-consuming, and repetitive task. Although with technology many bookkeeping processes can be automated, there are certain entries that must be taken care of by trained bookkeepers.
As mentioned above, bookkeeping involves recording and keeping track of the financial transactions of your business (or the business of your clients). Bookkeepers also generate financial reports. We can help you maintain your day-to-day records. We can help establish a system that will allow you to quickly transfer your financial details (whether digital or paper) through your preferred cloud service so that we can process and enter them into your bookkeeping system. If you have prior experience working with offshore bookkeeping services, you know that transferring the needed records is quite simple, and if you have never done this before, you will be surprised to know how easy it is. Our bookkeeping services include.
- Setting up Chart of Accounts
- Recording bank transactions and feed updates
- Processing feeds and allocating entries to appropriate accounts
- Posting bills and invoices for Accounts Payable and Accounts Receivable
- Tracking e-commerce business activities including sales-related information
- Reconciling the sales information with the sales report and matching the deposits towards the bank deposit
- Reviewing AP and AR on quarterly basis to highlight uncollected and unpaid amounts
- Reviewing financial reports for relocation, if applicable
- Reviewing balance-sheet items
- Extracting or generating specific financial reports for client review
Sales tax is a consumption tax levied by the government on the sales of goods and services. It is normally imposed at the point-of-sale, collected by the retailer and then passed on to the government. “Point-of-sale” in a sense that it is charged only when the item is sold to the end consumer and the consumer is not going to use the product for further manufacturing or selling.
Massive amount of data is generated at the point-of-sale, especially if you are a retail store or a business selling hundreds of items in a day or serving hundreds of customers (for example, a gas station) on a daily basis. As an experienced team of tax professionals, we can prepare your tax returns as per all US compliance needs.
Processing sales tax entries and preparing reports are integral parts of your tax process. It can be time-consuming. It also involves high risk in case the entries are not entered properly. On top of that, there are numerous compliance-related stipulations that you need to consider when preparing for calculating tax returns.
Aone Outsourcing Solutions can deliver highly efficient and affordable sales tax preparation services to accounting firms based in the USA. We will use state-of-the-art accounting software coupled with age-old wisdom to deliver you impeccable records and reports to base your tax assessments on.
Just because we are handling your sales tax doesn’t mean you are solely dependent on us. Even when you partner with us, you will have complete control over the entire process. By allowing us to take care of your labor-intensive tasks, you will be able to focus on core business activities to drive greater revenue.
Here are the sales tax processing services that we can provide you
- Capturing the sales tax data from the sales invoices
- Preparing sales tax reports with cutting-edge accounting software (or cloud-based software of your choice)
Year-end accounts preparation is done at the conclusion of the current accounting period or the accounting year. Books are closed for the final time in the calendar year and all the necessary adjustments and reconciling entries are made to make sure that the financial records represent the past 12 months as accurately as possible. Whether you’re doing year-end accounts preparation for corporate clients or individuals, this can be the most laborious process, and simultaneously, one of the most important aspects of maintaining account books. How much tax your clients pay, depends on year-end accounts preparation. What is the valuation of the company and how the stakeholders and shareholders are briefed, also depend on the year-end accounts preparation. Many compliances require organizations and individuals to prepare year-end accounts.
As a trustworthy outsourcing partner, we provide the following year-end accounting preparation services to our U.S.-based clients:
- Preparing the working paper for the balance sheet
- Accomplishing other related working paper preparatory tasks
- Preparing schedules
- Organizing fixed assets schedules
- Preparing loan amortization schedules
- Providing dividend information to the shareholders
- Reconciliating retained earnings
Payroll processing is a combination of multiple activities related to your employees such as calculating the total wages and earnings, withholding deductions, delivering payments, and filing payroll taxes. Many components of payroll processing can be automated but as a CPA firm if you are handling payroll processing for multiple corporate clients, managing individual employee data and taking care of various compliances and calculations can turn out to be a gargantuan undertaking. This is where we can help you.
Processing payroll demands time and attention to detail, especially if you are a CPA firm handling payroll processing for multiple clients. If you outsource repeat tasks involved with payroll processing, you will have more time and resources for growing your business, rather than getting bogged down by the nitty-gritty.
Most of the employee data is already online. It just needs to be accessed, processed, analyzed, and then made sense of. This can be done from anywhere provided the people handling your payroll processing are competent enough and are privy to the US compliance needs and labor laws. As an experienced Aone Outsourcing Solutions with world-class human and technological resources at our disposal, we have been serving our US-based clients for many years now.
We can offer you the following payroll processing services:
- Managing the direct payroll and third-party payroll
- Preparing biweekly, fortnightly, and monthly payroll
- Accessing the tax liability based on Form 941
- Reviewing payroll at year-end using W2 and W3
Outsource your tax return preparation from the United States
Aone Outsourcing Solutions is a renowned tax preparation services provider helping many US CPA firms with tax returns preparation. We specialise in providing back-office bespoke tax returns preparation services that help organizations in the US optimize their tax returns and leverage deductions wherever they are possible. We can help accounting firms like yours with preparing individual and business tax return forms. These forms include
- US Expatriate Return
Augment the capabilities of your CPA firm many notches. We provide on-demand work-centric tax preparation services that will increase your job capacity and margins and at the same time decrease your overhead costs. All the operations happen through a highly secure cloud server of Aone
Tailored tax return services
We don’t believe in offering template-based tax return services because we strongly believe that every business is unique. For that matter, even Aone Outsourcing Solutions is a highly unique business, and we apply the same philosophy to other businesses and organizations. Our services are powered by tax professionals who have spent years helping CPA firms and businesses take care of their tax -related chores. They can prepare from the simplest to the most complex tax return requirements.
Main benefits of working with Aone Outsourcing Solutions
Whenever there is a need, you can quickly assemble a team of tax preparation professionals. There is no need to keep expensive tax professionals on your payroll when you don't need them. We can help you build capacity, and scale quickly. This way you can increase your productivity and capacity during the tax season without hiring new employees, which can be an expensive affair.
During the peak season your firm's precious resources can be cannibalised. We can stop such situations from happening. Utilize your HR resources for much important tasks and let our team handle your tax preparation and tax return needs.
In the process you can also bring down your operational costs by outsourcing tax preparation and tax return needs to an offshore service like ours. You don't need to hire full-time employees. You pay only for the work done.
Additional benefits of working with Aone Outsourcing Solutions for tax preparation
Easy scalability and staff augmentation: Strictly on need basis. No long-term contact. Work with us when there is work.
Work with professionals with US tax knowledge: Our tax professionals have hands-on knowledge of US tax legislation, and they can help you address even the most complex tax preparation and tax return requirements, especially during the tax season when talent is in short supply, and you want to increase your capacity without hiring new employees.
Time-saving: Due to day-night difference your data will be in your inbox or your cloud folder by the time you begin your operations.
Easy scalability and staff augmentation: We offer customized tax preparation and tax return services that are specifically tailored according to your unique requirement.
Scope of work
- Preparation of payroll forms
- Preparation of year-end reporting
- Individual income tax returns
- Income tax returns for partnerships
- Preparation of income tax returns for C corporations
- Preparation of income tax returns for S corporations
- Sales and use tax returns for States
- Estate & gift tax returns
- many more
Our every US client is assigned a project manager that provides real-time, quantitative and actionable support for deliverability, security and data protection. All the data exchange is encrypted, and only authorized personnel have access to your data. We have a very strict security and information policy with international compliance paradigms.
Why Tax Preparation outsourcing is the best solution for your U.S.-based Certified Public Accounting Firm?
Businesses all over the world are going through trying times and the US is no exception. Economies were already showing a strain and the Covid-19 pandemic has been the proverbial last straw for many organizations.
With successive lockdowns, travel restrictions, and uncertainty looming large on the firmament of our traditional aspects of life, many businesses are resorting to unconventional methods to stay afloat.
Fortunately, businesses that have decided to outsource major chunks of their operations are not just staying afloat, they are also prospering. With a single stroke, outsourcing increases efficiency many notches and decreases operational costs by many degrees. Below we explain how.
What exactly is outsourcing?
In simple terms outsourcing means allowing an outside company to perform certain tasks that are traditionally performed in-house. In terms of a Certified Public Accounting Firm, it would be like adding expenses and income to the books, maintaining invoices and bills, preparing balance sheets and financial reports and capturing digital data that can be used for analytics and forecasting.
Why many CPA firms in the US prefer to outsource accounting and bookkeeping services is that it reduces their reliance on in-house staff. Keeping and maintaining in-house staff can be expensive. You need to buy insurance. You need to pay the benefits. You need to maintain the infrastructure that accommodates your in-house staff. The in-house staff uses your office resources such as space, Internet connection, electricity, computers and other peripherals.
As has been recently demonstrated by the Covid-19 outbreak, most of these operations can be performed at home. Since these operations can be performed at home, they can be performed from pretty much anywhere. Hence, instead of paying workers the salaries that are suited for the US, many CPA firms have been outsourcing their work to offshore companies like Aone Outsourcing Solutions.
As your outsourcing partner, we can deliver the same services, and on many occasions, with greater efficiency, at a fraction of the original cost.
No, we are not under selling ourselves. We are not running sweatshops. We leverage the difference in cost of living. Compared to the USA, the cost of living in India is much lower. Hence, we can make available highly qualified accounting professionals, pay them comfortable salaries, and at the same time, give you a considerable cost benefit.
We have well-established systems that will allow you to transfer the needed data – whether it is in the form of paper or digital – and then get back the information that you can use for various purposes such as financial analysis, tax preparation, and filing tax returns, preparing account books and maintaining historical records.
Above we are listing all the bookkeeping, accounting and tax preparation services that we offer to our USA-based CPA partners. Do let us know if you have unique accounting and bookkeeping needs and we can tailor our services accordingly.
When it comes to choosing the right accounting, bookkeeping, sales tax processing, and payroll processing partner, it is vital that you decide to partner with the right fit for your unique needs. We understand that accuracy and timeliness are of utmost importance to your business. As a competent USA-based CPA firm you provide the highest possible quality services to your business and corporate clients. For this you need a reliable partner you can count on for ongoing work as well as crunch times.
We have the experience. We have the expertise. We have the technology. We have assembled a team that is adept at the US accounting and taxation system. We can use all mainstream cloud-based software applications. We can deliver your data and reports in your preferred format. We can deliver you the benefit of the day-night difference. For more information, do contact us.