Outsourced Tax Preparation Services for Accounting Firms
Tax return processing poses a considerable challenge for accounting firms aiming to broaden their service offerings. In peak seasons, the relentless task of tax filing drains a significant chunk of your firm’s resources and time, diverting focus from client relationships and impeding your firm’s expansion efforts.
Scope of Work
LLC Partnership Tax Returns – Form 1065
Proficient in managing Form 1065 for LLCs and partnerships, outsourced tax specialists oversee income allocation to partners, ensure accurate preparation of Schedule K-1 forms, and maintain the correct carry forward of basis.
C Corporation Tax Returns – Form 1120
Skilled in Form 1120 preparation for C Corporations, our professionals handle books to tax adjustments, prepare schedules M-1, M-2 & L, and offer assistance with 5471’s & 5472’s for foreign reporting.
S Corporation Tax Returns – Form 1120S
Capable of addressing the unique filing requirements of S Corporations, we manage Form 1120S preparation, along with related shareholder schedules and assistance in preparing work papers & schedules, simplifying the review process for accounting firms.
Trust Tax Returns – Form 1041
In overseeing trust tax returns, we identify the trust type, assess its tax obligations, and file the appropriate tax returns.
Individual Tax Returns – Form 1040
For individual tax returns, We handle tax return preparation, accounting for various income sources, deductions, and credits. This includes processing documents and records of estimated tax payments, reducing review time for ACCA firms until e-filing diagnostics are resolved.