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Growing Your Tax Preparation Business with Professional Tax Software

As a tax professional, you know you live in an ever evolving world. If you want to keep pace and grow your business, you also know that you can’t stick to manual processing because of the billable time it costs. This is how professional tax preparer software comes in handy. These are essentially computer programs created to make your work more efficient and add value for your clients.

Below are some of the key advantages of using tax preparer software for professionals:

Flexibility

Most software or applications for tax professionals offer a multiple window feature which enables you to view more than one set of data (Input, Prior Year Input, Forms, etc.) in one screen. Forms also usually come synced with one another, so if you were navigating to your Itemized Deduction entry, the software will automatically show you Schedule A and Itemized Deductions entries in the past year.

Simplified Organization and Fast Data Extraction

Good professional tax software come with a feature that allows you to automatically label and organize your clients’ source documents, which means locating and identifying them in your electronic files will be easier.
You can also move data from the processed source documents directly into the software, reducing data entry considerably.

eSignature Convenience

Professional tax preparation software usually comes with eSignature, allowing you to save money and time, as well as avoid IRS hassles and more. You and your clients can take advantage of this secure, convenient and efficient way of signing tax documents through digital technology.

Quick and Trouble-free Error Correction

We all know that accuracy of returns is crucial to reducing IRS rejections. Good tax preparer software lets you find mistakes more easily, inspect your returns with an overriden entries list, and locate e-filing errors linking directly to the specific form that must be corrected. On top of that, these programs generally allow you to easily go over the return summary, including forms.

Maximized Refunds

Lastly, if you pick the right tax preparer software, you can have a feature that lets you check out a myriad of tax scenarios for your clients and then save them for reference in the future, add new data or replace existing data in the current return. Efficiency is important for any tax preparation professional as it not only retains old clients but also keeps new ones coming.

As you might expect, professional tax software can vary widely on many aspects, from features to pricing to customer service and more. Before you choose one, do your research. And keep in mind that considering a lot of software is better than just focusing on one. If you have options, you have points of reference that can help you decide whether a specific solution is indeed the one you’re looking for.