Tax Incentives Blog

How An Outsourced Tax Consultant Boosts Your CPA Firm’s Value

Written by Darren Labrie. Updated Apr 23, 2019.

MechanicI have a great mechanic. “Eddie” is well-rounded, his knowledge spanning all that is automotive. Yet, I wouldn’t say he’s expert in any one area. When you need the basics, he’s the guy. This became a bit of an issue, though, when my car came down with a confounding transmission problem.

After two separate visits to remedy the trouble, my car was still running wonky. Eddie wanted me to bring it down for a third try. I, however, felt that at this juncture it was time to take the car to an expert.  I asked if he partnered with a good transmission specialist. Nope. Eddie said he didn’t want to “give business away,” he could do it all on his own. In the end, after more time lost in Eddie’s garage, I took my car to a specialist – who fixed it on the first try.

I tried to explain to Eddie that partnering with specialists isn’t sending business “away.” Rather it works to enhance your business by demonstrating to your customers that you put their interests first in offering the best possible service – whether it’s within your own walls or outsourcing to an expert. And this builds trust.

Decrease Small Business Tax Liability with the R&D Tax Credit

CPAs may also want to keep this notion in mind. Outsourcing certain client tax needs to a consultant can add value to your firm and keep your clients coming back. It truly is unrealistic to expect a CPA to know every kernel of every tax precept. By supplementing services with a consultant’s specialized repertoire, you can deliver optimal accuracy and focus for your clients’ needs.

And here’s how:

Outsourcing for Value

Prosper from Proprietary Software
Today’s corporate clients appreciate, perhaps even expect, leading-edge services - including the latest technologies. Taking advantage of an outsourced consultant’s sophisticated software helps streamline your firm’s processes, such as automated data transfers that wipe out the need for error-prone manual entries. The software can also aid you in identifying maximum tax-saving opportunities for your clients. Both you and your clients garner greater benefits.

A Boost from Specialized Guidance
A consultant’s proprietary software can only do so much. The expertise of a tax consultant partner can help navigate the intricate tax incentive landscape, ensuring you glean all relevant data for an accurate and comprehensive report of every tax opportunity.

Once you identify all credit and incentive possibilities, a consultant can lend a specialized hand to reliably capture the full breadth of incentives and credits, such as the R&D tax credit, WOTC, and cost segregation.

Amplify Expertise
Partnering with a tax consultant can also add value to your firm by training your CPAs. Whether answering niche questions or procuring valuable tax-saving opportunities, your CPAs will have the knowledge to speak intelligently and work accurately for your clients. And tax consultant training can be a boon towards your CPAs fulfilling their CPE requirements.

Supplement Your Services and Add Value to Your Firm

At the end of the day, your success is really based on your clients’ success. Stepping outside your firm to obtain dedicated specialized assistance from a tax consultant is just one way to cater to your clients and provide them with the best opportunity for tax-savings.

The elite team of tax professionals at CTI can help you provide your clients the utmost value and expert services - ensuring prosperity for all.

 


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Topics: CPA

Darren Labrie

Written by Darren Labrie

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.

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