Over 700,000 accountants, CPAs, lawyers, and enrolled agents are gearing up for
due on April
. With little time in hand and frequently changing IRS guidelines for
this year’s taxation have
made tax preparation all the more difficult for everyone.
Luckily, however, the pandemic has forced tax firms and CPAs to revisit their practices and show them how technology is both empowering and enabling. To benefit from technology as you prepare for this tax season, here are some tech tips that accountants and bookkeepers at every firm should know.
It’s the Time to Cloud
In case your tax firm is still stuck in the 90s, you must be using desktop programs to prepare for tax filing. Not only the system is insecure, uncompetitive, and slow, it’s also obsolete. To bring agility to your workflow, it’s time to switch to cloud-based tax software. It will bring agility – which you desperately need to meet the deadline - and offer a one-stop solution to all your accounting and taxation needs.
CPAs and accountants sometimes wonder whether moving to a digital tax practice management system is a good idea. When you are dealing with tough timelines, anxious clients, and IRS at the same time, making a tech move at this point may seem daunting at first, but let us tell you why you need to digitize your tax practice.
Cloud-based tax software is a one-stop solution for all accountants and CPAs in the true sense. It offers a range of functions and features on a single platform that you can benefit from. From clients to accountants to individuals in the firm, everyone can be on a single platform and work in cohesion.
Collaborate and Communicate
A major hassle for bookkeepers and CPAs during the tax season is to carry out
back and forth
communication. Asking for documents, ensuring to acquire them in time, and then
proceeding with the
filing is an exhausting process for CPAs. With digital tax practice management
systems, you can make a single point for collaboration as the clients upload
documents on the portal,
and you or your team can
access it from there.
Similarly, modern tax management systems are equipped with integrated communication tools. Hence sending bulk emails, corresponding between different channels, and joint communication becomes easier.
Secure and Reliable
Security is one of the growing concerns of tax professionals and emailing tax documents is dangerous . Therefore, finding a tech solution that can make the transfer of documentation secure is essential. Cloud-based tax software eliminates the risk of identity theft through tax documents filled with valuable information.
Organized and Holistic
Not only tax practice management systems are secure portals for tax documents, but these systems are also holistic and organized. Instead of dealing with tons of new data near tax season, adopting cloud- based tax software can help you monitor and manage workflow for tax preparation in advance. Get in touch with us to know about our digital tax system, AccountantWS.