7 Benefits Of Outsourcing Tax Credits Services To The Experts
Tax incentives are both an art and a science. Wait, don't go, bear with me.
The science is the ever-changing, overly complex regulations, case law, and instructions that are required to successfully navigate the process. And if you do manage to untangle an incentive's guidelines enough to claim it, maximizing it is an entirely different story.
The art is in the process. A smooth, seamless interaction which maximizes your benefit, minimizes your team's burden, and produces a centralized view of your benefits is truly an art. Just ask the people who have been doing credits and incentives exclusively for 20 years. Oh wait, that's us. Keep reading.
The following highlights seven solid ways outsourced tax credits and incentives consulting benefits your CPA firm:
1. Outsourced Tax Credits Services Save Time Internally
Outsourcing to tax consultants affords your company the time to focus on what's most important, your business. Your tax team or CPA can focus on their specialties and pressing projects, your audit team can focus on your financials, your HR team can focus on human capital -- all while your company is earning valuable credits and incentives that improve your bottom line.
2. Tax Consultants Provide Audit Support
Audit support is critical when you must prove that its qualifications for a tax credit are legitimate. Relying on years of experience, tax experts that offer outsourced tax credits services are able to assist you in this area.
3. Outsourced Tax Credits Services Provides a One Stop Shop
Basic understanding of a credit is different than years of expertise. A tax incentive specialty firm will provide you with experts in each major incentive area whose sole responsibility is to deliver excellence on that incentive.
4. You Receive Financial Benefits When You Work With A Tax Expert
Credit research outsourcing is a more financially feasible option than hiring a full-time tax specialist. Plus, many incentives providers base their fee on a portion of what is delivered. Even if you've been calculating credits in-house, the added benefit almost always exceeds the cost.
5. Outsourced Tax Credits Services Are Able To Take On Large Projects
We grow with you. Accounting firms are unlikely to employ a large team of tax experts if capturing tax credits is not their specialty. If an incentive requires the work of multiple people with tax expertise, an outsourced tax consultant service is able to help.
6. Tax Experts Offer Their Specialized Knowledge
It is difficult if not impossible to pinpoint what tax incentives your clients are eligible for without expertise in tax rules. Remaining current with deadlines and required documentation is a challenge for many CPAs that need to focus their efforts on other areas when serving clients.
7. Tax Consultants Allow Your Business To Focus
Whether it's efficiency or opportunity or audit, a specialist brings you added value in time, money, and peace of mind so that you can focus on your strengths, while we focus on ours.
You or your CPA firm could likely benefit from the services of outsourcing tax credits and incentives services. If you wish to offer more ways to improve your or your clients’ budgets through tax savings without breaking your budget, working with a consultant is the best option.