7 Benefits Of Outsourcing Tax Credits Services To The Experts

Written by Taz Singh, CPA. Updated Aug 25, 2015.

corporate-tax-credit-researchThis is an updated version of a blog article that was originally published in May of 2015.

Outsourced tax credits services are a valuable resource for CPA firms working to provide more effective delivery of tax savings to their clients.

Every client your CPA firm works with has different needs and aspirations when it comes to their budget. Pursuing tax incentives is a beneficial strategy for many businesses, but it’s sometimes difficult for CPAs to navigate the path that earns clients maximum tax savings.When CPAs pursue tax credits and incentives for their clients, they likely also have a significant number of questions and not enough time to implement all necessary steps to effectively capture tax credits.

The following highlights seven solid ways outsourced tax credits and incentives consulting benefits your CPA firm:

1. Outsourced Tax Credits Services Save Time Internally

Outsourcing to tax consultants affords your firm the time to provide other important, relevant services to clients. CPAs are able to continue their work on bookkeeping, accounting and consulting while their clients earn valuable credits and incentives that improve tax budgets.

2. Tax Consultants Provide Audit Support

Audit support is critical when your client must prove that its qualifications for a tax credit are legitimate. Relying on years of experience, tax experts that offer outsourced tax credits services are able to assist you and your clients in this area.

3. Outsourced Tax Credits Services Allow Your Firm To Be Flexible

When your firm works with a tax consultant, you are never forced to advise clients to hire different services for all of their tax requirements. You become the reliable firm they turn to for every accounting, bookkeeping, consulting and tax credit need.

4. You Receive Financial Benefits When You Work With A Tax Expert

Credit research outsourcing is a more financially feasible option than hiring a full-time tax specialist workforce. Your CPA firm may not need tax experts on hand on a daily basis, but a consultant is always available when needed if you outsource.

5. Outsourced Tax Credits Services Are Able To Take On Large Projects

Small CPA firms are unlikely to employ a large team of tax experts if capturing tax credits is not their specialty. If your client has a project that requires the work of multiple people with tax expertise, an outsourced tax consultant service is able to help.

6. Tax Experts Offer Their Specialized Knowledge

It is sometimes difficult to pinpoint what tax incentives your clients are eligible for without expertise in tax rules. Remaining current with deadlines and required documentation is a challenge for many CPAs that need to focus their efforts on other areas when serving clients.

7. Tax Consultants Allow Your Business To Focus On Strengths

Whether your CPA firm offers a variety of services or specializes in a more focused group of competencies, it is important for any business to build upon its strengths. Attempting to offer services you are unable to excel in is not advisable.

Your CPA firm will benefit from the services of outsourcing tax credits and incentives services in a variety of situations. If you wish to offer more ways to improve your clients’ budgets through tax savings without breaking your budget, working with a consultant is the best option.

Are your clients eligible to claim often-overlooked tax credits, such as for research and development activities? Download your complimentary, educational guide below.

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Topics: R&D Tax Credit, Employment Incentives, Training Incentives, Property Incentives

Taz Singh, CPA

Written by Taz Singh, CPA

Taz has 20 years of experience in tax and business incentives. Prior to establishing CTI, Taz served as a corporate tax auditor for the California Franchise Tax Board. During his tenure, Taz specialized in auditing tax credits, including manufacturers’ investment credits, research & development credits and credit limitations (IRC 382 Limitation) due to ownership changes.