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Growing Your Tax Preparation Business with Professional Tax Software

As a tax professional, you know you live in an ever evolving world. If you want to keep pace and grow your business, you also know that you can’t stick to manual processing because of the billable time it costs. This is where tax software for professionals comes in. These are basically computer programs that allow you to work with greater efficiency, ease and value for your clients.

The following are the biggest benefits you get from professional tax software for preparers:

Flexibility

Most, if not all, tax programs for professionals let you view multiple windows for multiple data – for instance, Input, Forms, etc. – in a single screen. Forms will also usually be synced with one another, so if you want to, say, view Itemized Deduction, you will also be automatically shown Schedule A and last year’s Itemized Deductions.

Simplified Organization and Fast Data Extraction

With good professional tax software, you can label and organize your clients’ source documents automatically, making it easy for you to find and identify your electronic files.
You can also move data from the processed source documents directly into the software, reducing data entry considerably.

Convenience of eSignature

Professional tax preparation software usually comes with eSignature, allowing you to save money and time, as well as avoid IRS hassles and more. You and your clients can make use of this efficient and secure digital method of signing tax documents.

Quick and Trouble-free Error Correction

The accuracy of returns, as we all know, is critical to avoiding IRS rejections. Using good professional tax software, you can easily find possible inconsistencies in tax information, check your returns with a list of overriden entries, and find e-filing errors with a direct link to the specific erroneous form. Moreover, most of these programs will also let you review a summary o fthe return easily, including forms to be filed, refund, tax, AGI or balance due.

Refund Maximization

Lastly, with tax preparer software, you can go over various tax situations for your clients, save these for later reference, or add or replace data in the current return. Efficiency is vital to the tax preparation business – it not only retains old customers but it attracts new ones too.

As we’d all expect, tax preparer software can differ significantly on many points, such as pricing, features, services, etc. Before selecting one, do your homework. And remember, it’s better to consider several products instead of just one. If you have options, you have points of reference that can help you decide whether a specific solution is indeed the one you’re looking for.