CPA Firms: Want A One-Stop Shop For Finding Clients Tax Credits?

Written by Darren Labrie, CPA. Updated Apr 28, 2015.

one-stop-shop-cpa-firmWhile outsourcing was once considered a “trend,” more and more companies across all industries are now moving towards outsourcing as a smart, cost-effective business plan. By now, you likely already know that many CPA firms are outsourcing various processes to achieve greater efficiency and strategic aim. 

CPA firms are continuously turning towards outsourced tax experts for their wealth of expertise in a particular segment of the industry. Also, the right outsourced tax service comes equipped with state-of-the-art technology created and refined by the experts themselves, who use the software daily and with a variety of clients. 

Outsourced tax services are a key area of efficiency improvement for CPA firms who also have several other core competencies. Optimizing your clients’ tax credits and incentives is a complex and time-consuming process – when the experts step in, the process is automated and on point.  

How does this one-stop outsourced tax services shop work? Overall, you need a partner that offers a streamlined, service-level approach to their processes. 

Look for the following critical attributes in an outsourced tax expert: 

Do they have a proven diagnostics process for discovering eligibility for tax credits and incentives?

One of the most valuable elements of partnering with an outsourced tax expert is they know exactly how to take a deep dive on identifying eligibility and maximizing tax savings. Based on heavily researched statistics, these experts also easily address complexities that tend to hinder CPA firms from making real progress for their clients. 

However, the right outsourced tax expert is going to provide you with reports for estimated benefits so you may decide together if certain tax credits are worth pursuing. 

Do they take a highly targeted approach to developing the most feasible and direct route for achieving tax savings? 

As with any journey from point A to point B, you need to chart a course, especially if the landscape ahead features some difficult terrain. In the ever-changing landscape of tax credits and incentives, it’s important to anticipate any potential roadblocks. 

When you partner with the right outsourced tax expert, you’re teaming up with a guide who has hard-won experience with every potential opportunity and pitfall that a journey towards tax savings presents. 

Ensure your outsourced tax expert is clear about how they plan to take the burden of the charting process off of your company’s internal resources. 

Do they develop a detailed plan for reaching your clients’ tax savings goals? 

If so, what should your clients’ detailed plans for tax savings look like? A plan should be developed completely, but it should never be written in stone. 

Any tax savings plan should provide flexibility for adjustments to improve the process and, ultimately, maximize the benefits. Your outsourced tax credits expert should work with you and your applicable departments to create seamless transitions to capture the credits. 

Also, once all the work is done, your outsourced tax expert should be the one ensuring credits are claimed correctly for your CPA firm clients, right down to reporting each tax savings reward.  

In the long run, outsourcing tax credit optimization for your CPA firm clients saves both time and money – and your clients see significant tax savings. 

One final tip for teaming up with an outsourced tax service: Ensure your expert provides benchmarking for progress along with clear metrics. This way, you’ll never feel like you are losing control of your client accounts. 

Ready to learn more about how partnering with an outsourced tax expert optimizes your CPA clients’ tax credit opportunities? Call 866-444-4880 or click here to speak directly with an experienced tax expert at Corporate Tax Incentives. 
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Topics: R&D Tax Credit, Employment Incentives, Cost Segregation

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.