Tax Preparation Outsourcing in the US: Tips by Accounting Experts

Before planning any business or start-up, one must be well aware of the tax laws. When you head to obtain the federal identification number, the authorities may ask you various questions in the application phase, like how you want to be treated for a tax purpose and more. You must be familiar with terms like LLC, C-Corp and S-Corp.

Starting your own business, you need an expert in preparing and filing tax returns. Hiring an accountant in-house is great. But one individual sure cannot do what experts can!

Filling the wrong tax figures can prove fatal and hinder the success path of your company. Moreover, it may compel an investigation by the Internal Revenue Service. Glocal Accounting is renowned for tax preparation outsourcing in the USA. Our experts stand with you and actively seek out your best interests, biggest refunds and smallest legal tax liabilities.

It is advisable to look for a tax expert to guide you from the initial stage of the application phase. For example, you need to answer LLC-related questions during the application phase. If you elect to be treated as a corporation, it would be C-Corp or an S-Corp. If you were to be S-Corp, what would be the reasonable salary you would pay? We know that maximum start-up entrepreneurs are not prepared to answer such questions.

Why do you need tax preparation outsourcing?

● Risk Mitigation: According to the Association of Certified Fraud Examiner’s study conducted in 2018, it has been discovered that small businesses having employees of around 100 to 150 are the maximum victims of fraud. It would be best to tax preparations outsourcing to avoid abnormal financial activities. Glocal Accounting understands the potential transition risk associated with your business and the mitigation strategies needed to achieve your business goals. We perform tax activities depending on the business operating model selected, the number of employees involved and your organization’s size.

● Access Licensed and Experienced Experts: Outsourcing helps access skilled professionals who have experience dealing with tax and regulatory changes as per your business necessities. Glocal Accounting team can smoothly highlight the risk associated with your business and help lower the tax risk exposure as well as penalties.

● Improve the financial function: The tax preparation team can assist you in controlling and gaining visibility over indirect tax requirements in the international and global markets. VAT is the indirect tax that raises about 25 % of tax revenue globally. In some countries, VAT represents 45% of total tax revenue. Ignoring each country’s unique tax requirements can lead to penalties, fines and reputational damages.

Tax preparation outsourcing in the US can increase productivity by leveraging modern operations with automation. Glocal Accounting is also an outsourcing service provider that offers tailored solutions to deal with accounting errors accurately. In addition, our experts analyze your business’s financial health, cash -flow and overall expenses.

Your partnership with us can increase the productivity and profitability of your company. You can spend more time acquiring additional clients for the elevation of your business. Log on to www.glocalas.com for more information.