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Outsource Tax Preparation Services

Tax Preparation Process

More often than not, the tax filing and income tax returns season is quite nerve-racking for both individual taxpayers as well as businesses. This stems from the fact that most people are likely to wait till the last moment before filing their income taxes. Most businesses fail to realize that having enough time for tax preparation allows them to put their documents in order, and reduce the overall chances of any errors from occurring.

At the same time, leaving tax preparation and income tax processing in the hands of individuals who do not have the necessary skills just in order to save time and money can lead to further problems down the line. This is especially true for large businesses with a variety of assets under their name. Outsource2india offers bespoke tax preparation services for both small and large scale businesses, and we distinguish ourselves by actively seeking out the best preparation process that suits your business, allowing you to benefit from better refunds and smaller tax liabilities.

Tax Preparation Services We Offer

At O2I, we have experience in both individual tax preparation services and business tax preparation services. We specialize in minutely examining your balance sheets and interpreting and classifying each item on it for accurate and faster filing of tax returns. We will also classify and interpret P/L items, and interpret the taxability and treatment of various accounts. We offer tax preparation services for the following:

  • Form 1040 - For individuals
  • Form 1065 - For Partnerships
  • Form 1120 - For Companies and Corporations

O2I’s tax preparation services

Individuals Individuals
Fiduciaries Fiduciaries
Corporation Corporation
Non profit, estates & gift tax Non profit, estates & gift tax
Partnerships Partnerships

Our Tax Preparation Services for Federal and State Tax Returns Include -

  • Individual Income Taxes
  • 'C' Corporation Income Taxes
  • S' Corporation Income Taxes
  • Partnership Income Taxes
  • Fiduciary Income Taxes
  • Non-Profit Corporation Taxes
  • Heavy Equipment Use Taxes
  • Non-Resident Tax Return Preparation
  • Small Business Tax Return Preparation
  • Individual Income Taxes (for all states)
  • Corporation Income Tax Returns
  • Partnership Income Tax Returns
  • Intangible Tax Returns
  • Tangible Tax Returns
  • Charter/Franchise Tax Returns
  • Capital gains taxes
  • Gift Tax Return Preparation

Tax Preparation Process at Outsource2india

With 17 years of extensive experience behind our back, our knowledge of income tax preparation comes second only to our enthusiasm and the quality commitment we promise to our customers. With over 9000 customers and counting, we have been able to fine tune our tax preparation and processing process to provide the best possible benefits to our clients.

Our streamlined training procedure ensures that our employees are updated with the latest technology, software and workflow processes to enhance on-the-job efficiency for tax processing. We subscribe to online financial journals to stay abreast of the latest trends in global sourcing, Finance and Accounting Outsourcing (FAO), and best practices in global business. Our tie-ups with reputed CPAs abroad help to keep our finger on the pulse of global finance, what's on and what's coming, and sensitizes us to the special needs of international companies.

Our Tax Preparation Process

Sending Scanned Documents

1. Sending Scanned Documents

It starts with sending us scanned documents. We supply you with our standard format to send the relevant data either in the form of PDF files, MDI or e-fax messenger. Once we receive the files, our trained tax professionals enter the information into a tax software of your own choosing

Entry of Tax Return Data and Auditing

2. Entry of Tax Return Data and Auditing

Once relevant data has been entered into the software, the tax return is audited to verify that all the information received has been correctly entered and accounted for

Review of Return

3. Review of Return

Next, the returns are transmitted using ASP/FTP to your firm for review. You'll receive complete returns, including any questions or comments the preparer thought to be necessary. You are free to request as many modifications as you might need

Submitting Final Copy of TAX Return to Client

4. Submitting Final Copy of the Tax Returns to the Clients

Once you firm reviews and finalizes the tax returns, we update the tax file and send you a final copy for income tax return filing before the due date

Advantages of Outsourcing Tax Preparation Services to O2I

As mainland tax service costs increase, more and more accountants and companies are opting to outsource tax preparation and processing services to help minimize operating costs and maximize efficiency and profits. To meet this market demand, we at outsource2india provide customized tax preparation and tax processing services while using top of the line tax software and technology, such as, Intuit's Lacerte, Creative Solutions' Ultra-Tax, Intuit's ProSeries, ATX, and Drake.

Some of the advantages of outsourcing tax preparation services to us include -

  1. Significantly reduced tax preparation costs: Tax Returns / income tax returns prepared by us will cost up to 60% less than the average tax preparation cost currently incurred by a mainland firm. This cost reduction will not only ensure increased profit margins, but will also provide a significant marketing advantage for acquiring new customers
  2. Improved speeds and turnaround time: We pride ourselves on our ability to deliver accurate tax returns before the deadline, and our amazing client satisfaction ratio speaks for itself. The standard turnaround time is just 1-2 business days, and based upon urgency, we can set up a turnaround time which suits your requirements
  3. Ability to focus on core tasks: With our help, you can free up your resources to focus on more important tasks, thereby benefiting from increased operational efficiency
  4. Higher levels of customer satisfaction: A well-coordinated workforce management ensures low overheads and quick ramp up of a flexible team size that can meet tight deadlines. This results in high levels of customer satisfaction and repeat business from them. Implementing the processes trains both the organization and people to be methodical and process-driven
  5. Streamlined methodologies: Our tax preparation and tax processing service methodology provides CPAs and Tax service providers of almost any size with a great new way of handling their tax compliance workload and meeting filing deadlines
  6. Reduction in the problems and failures: Customers benefit as a result of fewer defects, reduction in turnaround time and improved delivery capabilities. These provide value-additions through improvement in the performance of the systems that have been outsourced, a reduction in the problems and failures, and improved stability
  7. One-stop-shop for all tax accounting services: Apart from expert tax preparation service, we also offer various financial and accounting services such as VAT return services, financial reporting services, H&R Block Tax Cut Processing Services, etc.

Choose Outsource2india for High-quality Tax Preparation Services

We are one of the leading tax preparation service providers in India, and our aim is to be your financial and accounting professional for many years to come, not just this year. Not only do we regularly keep updated with the latest tax laws, but support high-end infrastructure which allows us to function as a virtual extension of our client's team, while ably providing our cost-friendly services.

Our team of tax experts can also help you with quarterly tax filing services. Read more about the advantages of outsourcing Finance and Accounting Services to Outsource2india and outsourcing VAT return services to O2I. Also, find out how outsourcing financial reporting services to Outsource2india can help you take informed decisions about your future.

If you have any query related to advance income tax payment, income tax slabs, tax processing & preparation services, pricing, taxation outsourcing, etc. feel free to contact us for detailed information, we will be glad to assist you.

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