4 Key Benefits CPA Firms Gain By Partnering With A Tax Consultant

Written by Darren Labrie, CPA. Updated Oct 7, 2015.

Learn four benefits of partnering with an outsourced tax consultant.Clients increasingly expect their CPA firms to have knowledge on the subject of corporate tax credits and incentives. Heightened demand for tax services that help clients generate revenue and improve cash flow means you must work harder to satisfy client needs.

Failing to provide guidance in this area diminishes your competitive advantage in a market where CPA firms are doing everything possible to achieve their clients’ goals. However, tax rules are often complex and beyond the average CPA’s scope of expertise.

Partnering with an outsourced tax consultant gives you the tools you need to provide a fuller range of services to clients. When you gain control of your client base and maximize tax savings, you position your CPA firm as an industry leader. The following are four benefits of partnering with an outsourced tax consultant:

1. Outsourced Tax Consultants Complement Your CPA Firm

Given the multitude of stringent rules and regulations associated with capturing tax credits, many CPAs shy away from tax responsibilities. However, backing away from pursuing tax benefits for your clients isn’t an option anymore.

When you partner with an outsourced tax consultant, you are empowered to decide your consultant's level of involvement as you pursue valuable corporate tax credits. While it’s your responsibility to maintain client relationships, your tax consultant should offer services that complement your CPA firm and make the tax credit process simpler.

2. CPA Specialty Tax Software Standardizes Client Programs

Lack of transparency and control over the corporate tax credit process usually results in the fragmentation of your client programs. You need to ensure your CPAs are consistent in capturing the right tax credits for your clients. That’s where a CPA partner software tool helps. Your CPA partner  software tool helps CPAs review, identify and manage the process of capturing tax credits when outsourcing projects to specialty tax firms.

3. Training Enables Your CPAs To Offer Tax Guidance

By partnering with an outsourced tax consultant, you gain access to training services for your CPAs that educate them on tax credits and incentives. This training is not intended to turn CPAs into experts in every detail of corporate tax credit programs. However, CPAs learn to speak intelligently on the subject of capturing tax benefits.

 4. Goal Charting And Roadmapping Optimize Your Program

A highly targeted approach to capturing tax credits is necessary to help your CPA firm meet client needs. Your tax consultant gathers important information critical to fulfilling program requirements and determines action items that enable you to achieve client goals. Most importantly, your consultant offers expert advice on adjusting your program as needed to maximize the benefits you capture for clients.

It’s important for your CPAs to stay focused on their core objectives as they provide services to clients. While maximizing tax savings is a beneficial cost-saving solution, CPAs must not lose sight of other essential accounting responsibilities.

An outsourced tax consultant enhances your CPA firm’s ability to capture tax benefits but does not overshadow your other priorities. Consequently, your CPA firm is able to expand your range of services without reducing the quality of services you already offer. No details are lost in the transition when you decide to partner with an outsourced tax consultant.

Are you interested in learning how to maximize R&D tax credit savings for your CPA clients? Discover tips for navigating the complex R&D tax credit landscape.

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Darren Labrie, CPA

Written by Darren Labrie, CPA

Darren brings more than 20 years of experience in tax credits and business incentives. In his current role, he focuses on the overall operations of the practice and ensuring the highest level of service to clients.